Marketing a property for rent

4 Replies

Our tenant moved out this week so we are taking the opportunity to do some improvements while it's empty.

We listed it as available on Aug 1.  We have received 9 inquiries but only 2 showings are scheduled.  This is ok with me, but it got me wondering.  What is a typical ratio of showings to inquiries?

It was listed 2 days ago.

@Angela Smith

I’m sure it varies by location and landlord procedures. Some don’t do showings until people apply and qualify. Some do showings to everybody that inquires. Many of us are in the middle....tell people requirements and see if they still want a showing.

For me: I’ll have 20 inquiries (50 “Is this still available” button thumpers), 10 will state they are interested, 4 of those will say they want a showing after I explain the criteria, 3 of those will show up, 1-2 will actually apply, hopefully 1 qualifies and follows through.

There's not a typical ratio that I know of, but you can intuitively know what a reasonable number is given the immediate vicinity and when it's been vacant in the past. Keep in mind, some people nowadays browse Zillow et. al. and hit "inquire" on a bunch of properties in a row just to see what shakes out. 

I don't know what area this house is in but 2 showing requests in 2 days seems like you're off to a good start. Rentals are a numbers game. Get enough people in there and you should be able to find a tenant. 

That sounds about right.  The house I have for rent currently has about 35 inquiries by phone/text and 45 by email.  So far I have only 7 applications (just less than 10%).  This doesn't include FB inquiries.  Also, I do require applications before showings which I'm sure slightly decreases my application numbers.  The couple I do lose due to not wanting to complete the application first is worth it compared wasting my time with every tire kicker that sees the ad.  Out of the 7 applicants, 3 passed initial screening, 2 of those didn't want to move for nearly two months, so out of ~80 applicants I have one I am currently screening.