Tuesday, January 8, 2013

Creating a listing (Continued from previous)



... Continued.

Second, be up front about what you are expecting from a potential tenant.  On every one of our rental applications a list of requirements is right there in black and white.  Things like how much their income must be to afford this home, what background checks we are doing, what the pet policy of this house is, how much deposits and fees are etc.  These applications are available online for a tenant to review before they even call to make an appointment to see the home.

This is a great time saver.  If a tenant doesn’t qualify, they usually rule themselves out before even showing up.  Also, seeing the requirements in black and white usually makes the rules more real to somehow.  And if a potential tenant doesn’t qualify, they usually just take the application never to return.  When someone tries to ask to break a rule “just for them” or, “just this once”, just say no.  If you start your relationship with a tenant breaking rules, expect to do it all the way through their tenancy. These rules are restricted from state to state so make sure you check with your attorney.  I have an attorney for every state (except Alaska) so if you need a recommendation, let me know.

And third, is to try to get prospective tenants (especially if you’re looking for a prospective buyer) emotionally attached to the home before even stepping foot inside.  This is also a huge time saver as you won’t have to show the home to tenants that feel the house is not their style or to as many neighbors that just want to peek.  Neighbors quite often like to peek online so they feel that nobody knows they are looking.

To really create this emotional attachment, first create a floor plan of the home.  Include all of the windows and doors and hallways.  Also, show where the appliances in the kitchen go and the bathroom layouts.  It doesn’t have to be to builder’s accuracy, but the closer the better.  This will allow tenants to start thinking of where to put their furniture and how they personally would use each room.  Plus, unless you do a major remodel, this image can be used over and over again.

To Be Continued...

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