Investor · Cleveland, OH · Member since 2011 · 603 posts · 130 votes
Starting to transition my 25 rentals off my property manager and doing it in house. The plan is to manage a few myself with TenantCloud- then when I have my systems in place I am going to hire someone to do the book keeping/showings.
I just listed my first property which was a fresh rehab. The plan was to have an open house style showing this coming Sunday due to heavy interest. But I am having what appears to be extremely qualified people (engineers, Nurses, ect) begging me to let them see it early so they dont miss out.
So I have 2 questions -
1. How do I handle the people who dont want to wait for the open house. Is it acceptable to forgo the open house and let them see it early?
2. What is the best way to handle the dozens of emails/calls/texts I am getting. I am thinking I need a pre-qualification document before anything else to weed out non-qualified applicants even though I have the qualifications listed in the description. Any other ideas? Voicemail service or something of that sort?
Real Estate Agent · Princeton, NJ · Member since 2016 · 1k+ posts · 1k+ votes
7y
@Adam Craig
0. Create auto replies to your Zillow, text leads that reiterate your credit/income/pet/smoking requirements. If you reply to every lead, about 10-20% show up. I include a link to a bitly google form that asks basic questions. I had a “hot” rental listing that was correctly priced as an agent with like 500 emails/texts/calls in 1 month and 5-10 applications (mostly via realtors) and either the credit scores didn’t meet owners criteria or the person had a pitbull/animal or didn’t want to move in for 6-8 weeks.
1. If you host an early showing, make it an open house and make it available to all the current people who’ve replied via email or text that you can easily find, like Great News! I’ll also be showing the home from 5-7pm on Friday as well as 1-3 Sunday. Which one will you come to?
2. Definitely create a basic brochure with your requirements and have on site paper applications as well as links to an online application and the listing of your house with photos.
Good luck. Sounds like you’ll learn a lot from being your own PM.
Rental Property Investor · Boca Raton, FL · Member since 2019 · 5 posts · 3 votes
7y
@Adam Craig from the sounds of it your pricing might be a bit low if you have an abundance of people begging for the property, take a step back adjust pricing and move forward