Be proactive with your tenants
- Who attends vacant properties? Prospective tenants
- Who are prospective tenants? Future & CURRENT Landlords
- Who helps tenants find homes for the first time? Parents
- Do all landlords rent to their own kids & friends?
Some questions that you can ask people when they’re attending a property that’s for lease are:
- How does this property compare to other properties you have viewed? If it was possible for us to arrange that for this property would you apply?
- Will you be applying for the property? If they say “no’, ask them why, and see if you can work with them to help find a suitable property or even as mentioned above, find out if you can make it happen for the property they’re looking at now.
- How much do you think the property is worth to rent?
- What experience have you had with real estate?
Have a list of your vacant properties with you, so if this property isn’t suitable, you can offshoot them to another property you manage.
Finding potential landlords
Applications are a great source of finding potential landlords. The tenant created a relationship with the previous owner and their details can be put on the form as a reference.
At this point you can then call the owners and thank them for the reference check, but then offer to help find them a new tenant as it’s now come available…unless they’re selling or moving in themselves.
When a property is vacant it’s one of the most stressful times for an owner, so they are now at a point where they need your help, and you can offer some help when you’re making that call.
Your point of difference
Having a system like InspectRealEstate (IRE) in place within your office is having a service for your potential tenants that’s above and beyond your rival agents. They, as tenants, recognise this when they’re looking for a property with you, as you’re making life easier for them and they get impressed with the notifications. They (If they’re a landlord) start to question “why isn’t my agent using this service?”, or “wow I manage my own properties and can’t offer this for my own tenants when looking”.
You are now offering a service above and beyond your rivals……a point of difference (POD).
- Send tenants a PDF of your vacancy list once per week.
- Follow them up when they have said they will apply……chase the application ….especially if you know they’ll be a great tenant.
- Create a top 10 prospective tenants list.