How to Get Your Investment Property Rented Quick
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Hi, Benton Cotter here. Helping making your investment rental successful. Today we’re gonna talk about how to get your rental investment rented quickly.
There’s a lot of factors that go into marketing and getting your home rented quickly, but we’re gonna start off with some basics then we’re gonna go into something that I feel like is a trick or a niche that we found that have worked really successful.
First, we’re gonna talk about make it rent ready. Make it presentable. Do the repairs that are necessary to get it to a point where it’s ready to move in. That’s the easiest way to present yourself. A lot of tenants shy away from homes that have damage or have repairs up to snuff. They’re gonna walk away immediately, or not even look at it through the pictures.
So key, make it rent ready, number one thing. You don’t have to go overboard. We’re not talking about over-upgrading. We’re just doing it to make it a presentable, livable space that’s nice for the renters, making it an experience for them.
Second, get good pictures. I don’t know why people don’t do pictures, but have pictures. Do 15 to 20 pictures, and include a picture of the outside and one of every room in different angles or ways that you wanna show off. Even show the community amenities. That’s a big thing. You want people to be a part of the community.
If it has a community pool, make sure you take a picture of that. Include it in the pictures so they know that they’re getting that. A lot of these sites, that’s the first thing that pops up is always pictures. They just scroll through pictures, then they’ll read details about the property. So they filter through the pictures when they’re searching. So make sure you have good quality pictures to showcase your property. Don’t have to be professional. You can do that, you can stand out.
Some people do 3D pictures. We do like 3D pictures and mapping where they can walk through the home. It definitely helps, but not necessary. Just take your iPhone, they’re great cameras. Get 15 to 20 pictures. Again, make sure you take one of the outside, take one of each room.
When you’re doing pictures open up the doors, open up the windows, let as much light in as possible, turn on all the lights, make it good pictures. They’re blasted everywhere. Put it on Craigslist, Zillow, everywhere you can find on a website that you can advertise. And a lot of these are free, put it out there.
A great tool a lot of people use is called Postlets, it’s owned by Zillow, but it zips it out to Zillow, Trulia, and their network Homepath.
There’s lots of things on there that’ll it’ll shoot out to. You want to put it in as many areas as possible where tenants are looking, so blast it everywhere you can. Craigslist is a little tricky, you kind of have to update it and you get down the line but you’ll definitely post it wherever you think is appropriate. But blast as many spots as possible.
Now the key to renting a home quickly, there is something that we found as we’ve you know, rented over 10,000 units or doors, we’ve gotten, kind of wrapped our heads around this idea. It’s something called self-showings. Now this is kind of a new term that’s come around about the last few years. We’ve been using it for around four years. We understand the game and it’s definitely helped improve our vacancy time to trim it down. So self-showings is where you get the opportunity for the prospect, prospective tenant to come and view their home on their time and when they schedule it without anybody there.
It’s kind of, some people like it makes flags wave, I’m not going to let a tenant in my house just to roam around with no one supervising them but again, it really is not a huge risk. We actually haven’t seen any issues with it. If someone’s there and trying to do harm on your property a little white box is not going to stop them anyways.
They’re going to take a hammer to it and do what they want and steal things or do what they want to do. Self-showing is pretty safe actually. You kind of gather information about it. So how it works, they go they fill out a form on our website, they figure it out. Put all their information in.
Upload a drivers license and then once that’s approved they get a code to unlock the door for one-time use. So we have that sophisticated system on checks and balances. You can do the same thing. What we used to do is have them take a picture of the ID, send it to you, make sure it looks legit then giving them the one-time code and let them use it.
You might not have the sophisticated box where you can have multiple codes, each one has those little, you know, code boxes that have one number programmed into it. So once you show it to somebody or give it out you might want to change it a few times throughout your vacancy so not one person has that code during the whole vacancy but you can do it. And what this does is it minimizes the time for them to schedule.
Typically when a prospect is coming to find a property they have to call either the landlord or the agent of the property management company and it takes time.
Sometimes they don’t get through, they get frustrated, they call multiple times they’re sending emails, they don’t get a response respond within an hour they get frustrated and they move on to the next property. And sometimes well that’s unfair, I’m trying the best I can. I’m working, I can’t you know, reach out to every inquiry.
We understand that as a landlord but this is an easy method that you can do that you get the opportunity to email or phone you and send them a quick text to say, “Hey do you wanna see the property right now? Yeah, okay, just give me your information, maybe send out a photo of a credit card we’re gonna do.” They submit it to ya, text them one code, it’s that simple. They can go see the property immediately.
They’re very responsive, they can see it on their own time, they don’t feel pressured. A lot of millennials like this, a lot of people in general. A lot of our tenants like this. They like to see it on their own terms. Don’t have to wait til they coordinate with and find somebody there and they can see the property immediately.
Once they see that property you’re going to have an advantage over the next person. Once they see the property they’re usually more inclined to rent it rather than the next property. So you want them in the home. A lot of people do not rent properties unseen.
They wanna see the property so if there’s a friction point, remove that friction point and self-showing has been a huge advocate and a huge blessing for us to be able to rent the properties quickly. So you want to take advantage of that again, you don’t need the sophisticated equipment we have.
You can do it on your own or if it’s too much, you can’t figure it out, we kind of have the secret sauce, we can figure it out for ya and help you do that and help you find the renter quickly and actually we’ve proven to find better tenants even faster through our processes.