I will be showing you a quick strategy you can use to fill your vacant rentals within a week. I have outlined this method in 6 simple steps. Stick to the steps and you are guaranteed to find your tenant.
1. Make sure your rental is deep cleaned, staged (as much as possible) and is ready to be shown. When it comes to staging just think “model home” and that should keep you in line.
2. You will heavily market your property for 5 days, then show it on the 6th day. Marketing Monday through Friday with a showing on Saturday usually works best.
3. Set aside a time slot for your one time showing on the upcoming Saturday, say 1-3pm. You will be making it known to the world that you are only showing your rental one time, on Saturday from 1-3 and will choose a tenant on the following week. This creates the hype you need to get those tenants clamoring to get into your rental. This also creates a strong psychological competitive streak among potential tenants when you conduct your one time showing.
4. Starting on Monday, you should post at least 2-3 ads a day on Craigslist and similar websites along with photos, rent amount and information highlighting your rental. You may post the cross streets and area but do NOT post the address. You want the potential tenants to email or call you so you can give them the address. This will let you know about how many people to expect on Saturday. You should also immediately print out flyers and post them at local laundry mats, grocery stores and bulletin boards at apartment complexes, specifically in areas that surround your vacant rental. Above all, do not forget to state that the showing is a one time showing only and that the new renter will be chosen the following week!
5. On the morning of your showing you will need to place signs in your rental area, almost like you are having a garage sale. The signs should say something like “Rental Open House 1-3pm, One Time Showing” with the address, as well as arrows. Place these signs at all surrounding main streets and red lights to direct traffic straight to your door. This should also bring in potential renters who are out driving on Saturdays. It is also a good idea to attach balloons to the sign in front of your rental or on all of them! You should also buy a pumpkin spice or cinnamon roll scented candle and light it at least 2 hours before your showing begins.
6. At the time of your showing simply let people discover the rental, answer any questions they may have and have a pile of rental applications on the counter. Let everyone know that you will be reviewing the applications and will choose sometime next week.
Viola! Not only have you brought those potential tenants in, but you did it with one single showing and you have the pick of the litter. Now all you need to do is screen those tenants properly! It is important to cross check rental applications in-depth, because believe it or not, some people lie on those applications! You may want to read my article on the fail safe tenant screening method to make sure you pick the best possible tenant for your rental.