When you know how to present your rental property, you’ll better be prepared to find tenants in a short period of time. Here are six steps you must take to present your rental property to potential tenants.
1. Prepare your property
Before inviting potential tenants to view the property, make sure it is in tip-top shape. Clean thoroughly, make necessary repairs, and make sure everything is functioning properly. A well-maintained property not only looks more attractive, but also shows potential tenants that you are a responsible landlord.
Pay special attention to curb appeal; mow the lawn, trim shrubs, and add some potted plants to create a welcoming entrance. Inside, spaces are organized and depersonalized so that tenants can imagine themselves living there.
Remember, first impressions count, and a clean, well-prepared property sets the stage for a successful showing.
2. Highlight key features
During the presentation, be sure to highlight the property’s key features. Point out recent renovations, energy-efficient appliances, and unique aspects like a spacious backyard or stunning views. Use descriptive language to paint a vivid picture of what life is like there.
For example, instead of just mentioning the kitchen, highlight its modern design, ample counter space, and stainless steel appliances. If the property is in a desirable location, talk about the benefits of the community, such as being close to schools, parks and public transportation.
Highlighting these features can help potential tenants understand the true value of the property.
3. Start the screening process
Use showings as an opportunity to begin the tenant screening process. Observe how potential tenants interact with the property and ask them questions to gauge their interest and suitability. Ask about their current living situation, employment status, and rental history.
Let them know your screening criteria, such as a credit check, income requirements and references from previous landlords. This initial interaction can provide valuable insight into whether they will become a reliable long-term tenant.
Please remember to maintain professionalism and respect privacy when gathering the requested information.
4. Explain the application process
Clearly explain the next steps in the application process to interested parties. Provide them with the application form and outline the required documents, such as proof of income, identification and references. Explain all application fees and the timeline for processing applications.
Be transparent about how you evaluated the application and which factors were most important in your decision-making process. This clarity helps manage expectations and ensure potential tenants understand what is needed moving forward.
Finally, provide your contact information so they can ask any questions or concerns.
5. Follow up with interested parties
After showings, follow up with potential tenants who have shown genuine interest. Prompt follow-up demonstrates your professionalism and keeps you motivated. Send a thank you email or message that reiterates key points about the property and reminds them of next steps in the application process.
They are encouraged to contact us if they have any further questions. Not only does this follow-up show that you are attentive, it can also help you gauge their level of interest and seriousness in renting the property. Effective follow-up can be the key to finding the right tenant quickly.
6. Comply with Fair Housing Laws
Throughout the process, make sure you comply with fair housing laws. These laws are designed to protect tenants from discrimination based on race, color, national origin, religion, sex, familial status or disability. Be consistent in your communications and application process with all potential tenants to avoid any bias.
Understand federal, state and local fair housing regulations to ensure full compliance. By following these laws, you not only protect yourself from legal issues, but you also promote a fair and equitable leasing process for all applicants.
Private showings and open days
When listing a rental property, you have two basic options:
- Personal inspection (one-on-one with potential tenants)
- Open House (anyone can visit, no reservation required)
Let’s start with the pros and cons of personal screenings.
advantage
- Personalized attention: Individual showings allow you to give each potential tenant your undivided attention. You can address their specific questions and concerns, customizing the tour to highlight features that match their interests.
- Deep filtering: One-on-one interactions provide the opportunity to begin the tenant screening process. By observing your tenant’s behavior and asking relevant questions, you can gain a better understanding of your tenant’s suitability.
- privacy: With personal screenings, there is more privacy and less chance of feeling rushed. Prospective tenants may be more comfortable discussing sensitive topics, such as their rental history or financial situation.
shortcoming
- time consuming: Scheduling and conducting personal showings can be time-consuming, especially if you have a large group of interested parties. Each screening requires individual preparation and coordination.
- Limited scope: You can only show the property to one person or group of people at a time, which can slow down the process of finding tenants compared to an open house where multiple parties can view the property at the same time.
- Scheduling conflict: Coordinating schedules can be challenging. Space available to potential tenants may be limited, causing delays in showing the property.
Here are the pros and cons of an open house.
advantage
- efficiency: Open houses allow you to show your property to multiple potential tenants at the same time, saving time and energy. This can speed up the process of finding the right tenant.
- Increase exposure: More people can view properties in a shorter period of time, increasing the chances of receiving an application and creating a sense of competition among potential tenants.
- convenient: Open Houses offer set viewing times, reducing the need for multiple appointments and making it easier to manage your schedule.
shortcoming
- Less personal interaction: With multiple people viewing properties at the same time, it can be difficult to give personal attention or thoroughly answer specific questions.
- Maintain order in the crowd: Managing large numbers of visitors can be challenging. Ensuring everyone has a chance to visit the property and ask questions requires good organization and possibly extra help.
- Security Question: Open houses can present security risks because you have less control over who enters the property. It is important to take precautions to protect property and any personal belongings.
final thoughts
Now that you know how to present your rental property, there’s only one thing left to do: take action. In no time, your property will have top-notch tenants and you’ll have more money in your bank account.
Save time and money with this refreshing guide to managing your own property.
exist self-managed landlordAmelia McGee and Grace Gudenkauf share tips for efficient property management, tenant screening and onboarding, and scaling your business, all to help you escape the 9-to-5 drudgery and create lasting wealth through real estate.
Notes on BiggerPockets: These are the opinions written by the author and do not necessarily represent the views of BiggerPockets.
