Novice property investors looking to hold their first open house could need some guidance, as they’ll want to make sure everything goes smoothly to pique the interest of potential renters.
When prospective tenants come to an open house, have a sign-in sheet waiting. Besides getting their contact information, this can be good for security purposes, a concern when allowing strangers through a property.
Rental managers may want to give guided tours of their properties to make sure that visitors see the highlights and advantages. Discuss good lighting, views and other benefits. If there are neighborhood attractions nearby, consider giving the visitor some background on them.
These steps may help attract and appeal to guests:
- Advertise the open house online and with signs, preferably placed at nearby intersections with significant traffic.
- Consider holding the open house at a time when others will not be open so more visitors can make it.
- Print fliers with contact information, the date, time and address of the open house, and distribute them locally.
- Have rental applications and information ready, so that eager prospects can apply on the spot if they want to.
- Make sure the property is tidy inside and outside.
- Check lighting fixtures and replace any that are not bright, so visitors can see clearly. Also, let light in through the windows.
- Keep parking open so that visitors don’t have to walk far.
Open houses can be an efficient way ?for landlords to meet, and show a property to, potential tenants. Meanwhile, having visible competition sometimes pushes potential tenants to apply more quickly.