how's your ad response vs showings vs applicants: SFH Milwaukee

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how's your ad response vs showings vs applicants: SFH Milwaukee

Kelly G.
Florissant, CO · Member since 2013 · 184 posts · 69 votes

Greetings;

I have a SFH for rent in Milw. WI. I realize that Christmas is probably not the best time to try to rent a house in WI - but here I am.

So my ad is on Zillow, Trulia and Hotpads.  I'd rather not use Craigslist.  In 5 days I've had about 15 inquiries and 3 open houses . . . . .   with only 2 people showing up and no one returning an application yet.  I thought 15 inquiries around Christmas wasn't too bad; but everyone asks about a showing and no one comes to the open houses; and no one replies that the time is not good for them. 

How's your response rate this time of year?  I've heard that landlords/PMs in Milw have lease clauses that basically prevent anyone from moving btwn Nov and Feb!  The house is in a good neighborhood on a quiet street.  

Are my expectations too high:  to expect people who inquire about the house to actually COME to an open house!  

Thanks

Kelly

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  • Kim Meredith HamptonBusiness Member
    Real Estate Broker · St Petersburg · Member since 2014 · 2k+ posts · 2k+ votes
    9y

    Maybe you could try a MTM or 6 month rental to put you at a better time of he year

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  • Adam Christopher Zaleski
    Investor · Pueblo West, CO · Member since 2014 · 310 posts · 213 votes
    9y

    I give them a personal appointment instead of telling them to come to the open house. I typically schedule appointments every 20 minutes. I try to book 9-12 potential tenants in a 4 hour block.

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  • Joshua Martin
    Investor · Milwaukee, WI · Member since 2016 · 389 posts · 193 votes
    9y
    Might want to try Craigslist. That site is so widely used for rental properties...
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  • Dan C.
    Milwaukee, WI · Member since 2013 · 384 posts · 109 votes
    9y

    @Kelly G. Yes that sounds like a low rate of converting to an appointment.  However if this is the week immediately before Christmas you are talking about, I would totally discount it.  Its not that much harder to rent a place in Milwaukee in the winter.  But right before Christmas I think folks are very busy and distracted and it would not surprise me at all if a lot of people called to get info on a listing but did not make an appointment.

    You might want to at least consider Craigslist.  It's all I use in addition to a sign in front.  When I post a vacancy on Craiglist I am overwhelmed with responses.  Often its so much I have trouble even responding to every single interested party.

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  • Marty JohnstonPro Member
    Lender · Wauwatosa, WI · Member since 2016 · 570 posts · 203 votes
    9y

    Just to reiterate what others have already said; although Craigslist may have some tire kickers, it is certainly the most unanimously used free advertising site out there. If exposure is what you're looking for, you may want to ignore your personal reasoning against using it.

    And yes, Christmas and the New Years is a killer for a lot of people. I've noticed with business especially, most people have completely ceased communicating - it's the time most people are putting all things aside. Who knows, maybe there is an application from those 15 waiting to be sent until the New Year.

    Give it another go this week.

    [email protected]414-600-0123
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  • Gail K.
    Augusta, GA · Member since 2014 · 1k+ posts · 1k+ votes
    9y

    Just a comment...we have one SFH available right now. I've noticed the folks "eager" to move (the ones that ask for an application, return it and, so far, have been denied due to bad credit, history of previous evictions, not meeting the income requirements) have, invariably, been living with relatives prior to looking.

    In other words, you may find you are being contacted this time of year by a larger percentage of what may be described as the "desperate" crowd who are living with relatives because no one else will take them.   You can post all your requirements in your ads, repeat these on the phone when the call, repeat them AGAIN during the walk through...and there will still be a certain number who may waste your time attempting to rent from you.

    Unfortunately, this is the cost of doing business as a landlord.   The idea of holding an open house is a good one; you'll still likely get some of these time wasters but, hopefully they'll come in "bunches" as opposed to "dribblers" with separate appointments.

    Gail

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  • Kelly G.
    OP
    Florissant, CO · Member since 2013 · 184 posts · 69 votes
    9y

    Wow!  Sooo much activity "post" Christmas . . .  here and with showings of my house.  Must have been the holiday.  I didn't give it that much weight because when I was renting 'back in the day' - I didn't care what day it was - I needed to find a good place to live!  

    things have picked up significantly.  Have done 7 showings in 2 days with a couple applicants ready to move in tomorrow! 

    Thanks for the comments - everyone.  and @Gail K. - very good point - and certainly something I will keep an eye on.  After all - it's not only Christmas/New Years - it's Winter in WI and colllddd for moving (brrrrr).  

    For now - still avoiding CL - just cuz I think I'll get better candidates off Zillow/Trulia/Hotpads - though may take a little longer.  

    Appreciate all your comments - and have a 

    Wonderful and Prosperous New Year!!

    Kelly

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  • Marcus Auerbach
    Investor · Milwaukee - Mequon, WI · Member since 2010 · 5k+ posts · 7k+ votes
    9y

    @Kelly G. - good to hear and congrats. I am with you on Zillow vs CL, however CL seems to work better with lower price tags. Be sure to do a good background check, especially with tenants who are ready to move in today and care more about getting a YES than what the home looks like. I use mysmartmove.com (Transunion) and let the applicants pay for the service - doesnt get much better than that.

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  • Jason V.
    Investor · Milwaukee, WI · Member since 2012 · 109 posts · 42 votes
    9y
    Craigslist works great with my Milwaukee SFH. I get 50-60 responses, about half come to the open house or appointments. I get about two applicants after listing my background requirements and one tenant usually clears, takes about 2-3 weeks for me to get a tenant.
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