Attract Better Tenants with the Perfect Open House

Attracting the right tenants can be a difficult task, but representing yourself as a high-quality landlord starts from the moment you make contact with potential tenants. One of the most lucrative ways you can attract better, higher-paying candidates is a well-planned open house showing. Follow these guidelines to make your showing as professional as possible and land yourself a dream tenant.

Is All Starts with the Listing

The first impression you make on potential renters comes through your listing, so do your research and craft one that will catch a potential candidate’s eye while laying out all of the amenities your property can offer. Once you’ve crafted this ideal listing, post it on sites that will connect you to a wider audience of wanting renters. Apartment search engines like Hotpads.com and Apartmentfinder.com offer various ways to showcase the best components of your property, with interactive maps, easy listing templates, and a variety of other listings to help you compare and competitively price your rental.

Schedule Showings

Don’t wait to schedule showings as you begin to receive inquiries. Be proactive and set a few dates during which potential candidates can attend. This will make preparing the home more manageable for you. You’ll want your showing to be convenient for prospective tenants; schedule it for at least 48 hours after your posting goes up, during non-business hours, and on a weekend date if at all possible. This will mean more traffic for you and a better pool of candidates to choose from.

Understand the Area

You need to come into an open house with thorough knowledge of the neighborhood and surrounding areas. This includes detailed insight on local restaurants and shopping, the school district your property falls under, and nearby outdoor areas like public parks that tenants will be able to take advantage of. If you have the time, make fliers that will detail these issues and hand them out to tenants as they walk in to peruse at their disposal.

Consider the Details

Even the smallest of efforts can make a huge difference in your open house. Time your showings during the best time of the day. If your property offers amazing views of sunset, schedule your open house an hour before and allow visitors to see the beauty offered. Avoid showing the home on a day where the garbage is out to be picked up—curb appeal is important. Make the apartment or house feel homey by providing fresh-baked treats, like a plate of brownies or a fruit platter to encourage your guests to take their time and really take in the space. If it doesn’t make sense to bake inside the home, you can just as easily order cookie bouquets and have them set up on the counter when inquiring candidates attend your showings. Little touches like these provide a more personal connection, and will be an attractive facet of your showing to quality tenants.

Recruit a Cohost

If an influx of potential renters arrive at the same time, you’ll need some backup help. Consider recruiting a cohost to help you show the place. It’s likely you’ll receive many people during the showing (if your listing did the job it was supposed to) and it’s unlikely you’ll be able to give each candidate the attention they need throughout the entirety of the open house. If your property boasts outdoor amenities that you’ll want to show off during the listing, i.e. a barbecue area, pool, etc., you can have your cohost serve as a guide to these areas, while you remain in the main home to welcome any other arrivals.

Communicate with Current Tenants

If there are tenants residing in the property you are attempting to show, do your due diligence and keep up with communication, letting them know at least a week in advance that they’ll need to be out of the home on the specified dates. Offer to pay for a meal for your current tenants—this thoughtful gift will get them out of the house and thank them for their efforts. The more respect you provide to them, the more you’ll receive in kind, and this will hopefully result in a cleaner apartment and less work for you when it comes time to clean up the space for viewings.

Pulling off a successful open house requires honing in on the details and plenty of preparation, but when done correctly, could mean wonderful things for your tenant placement and rental income.

10 Clever Tips to Avoid Buyer’s Remorse

Have you ever bought something only to feel the pangs of regret a few days later? You were experiencing buyer’s remorse, a feeling of regret or guilt after making a purchase. People think that buyer’s remorse only happens with expensive items like a home or car purchase, but any purchase carries the potential for regret. Here are some ways you can prevent it from happening to you.

Don’t buy on impulse. Unplanned purchases have the biggest risk of buyer’s remorse, but you’re less likely to experience these feelings if you take a day or two to think before making a purchase, especially a big purchase.

Weigh the pros and cons of the decision. Thinking through the reasons you should and should not make a purchase can prevent you from regretting the decision later. By the time you finally decide to make the purchase, you’ve already rationalized the downsides and accepted that the benefits outweigh the cost.

Evaluate less expensive alternatives. If you can find a lower-cost option, not only can you avoid regret, you also feel a sense of accomplishment by saving money. You might ultimately decide against the alternatives, but you’ve at least weighed your options and made an informed decision to go with the higher-priced product.

Consider the opportunity cost. Sometimes buyer’s remorse isn’t about the purchase you made, but the purchases you could have made if you hadn’t already spent the money. Before you buy, consider whether there’s something else you’d rather spend your money on.

Put it on a credit card with the most benefits. If you use a credit card for your purchase, pick the one with the best perks. Rewards give you a little something extra for your purchase. Perks like refund guarantee, purchase and price protection, or extended warranty may come in handy if you later regret your purchase.

Don’t buy the first model of a new product. Unless you’re an early adopter who likes to try new products, it’s probably better to wait until the second or third version of the product. That way, the manufacturers have a chance to work out the product kinks and you get a more reliable version of the product.

Read the reviews. It’s easier than ever to read reviews on products. Type the product name + review in a search engine and read through the good and bad reviews to get an idea of what other consumers think about the product.

Check your budget, savings, or credit limit before buying. Make sure you can afford the purchase before you proceed. Don’t empty your savings or emergency fund for a purchase – you’ll regret it if an emergency does crop up.

Buy for the right reasons. Make your purchase only because you want to and can see how it will benefit you, not because there’s a great offer, everyone else is buying, a salesperson pressured you, or you’re afraid of missing out.

Know your return options. You may not be able to avoid buyer’s remorse, but you at least want the option to return the product if you don’t like it – assuming it’s not a consumable product. Give more consideration to the purchases that are more difficult to take back.

If you’re not sure you should make a purchase, walk away, at least for now. Give yourself time to think through the decision and compare products. Wait until you feel good about the purchase before you make the buying commitment.

Compare Car Insurance with these 3 Strategies

Anyone who has ever driven a car before remembers the rush of receiving your first driver’s license and getting behind the wheel as an independent driver, only to have it come right back down when you receive your first car insurance bill. Car insurance is not just a necessary part of the process; it’s an expensive one. At the same time, not everything in life is about saving every penny. Sometimes you get what you pay for. That’s exactly why you should remember there are more than a few ways you can satisfy your most important needs when comparing insurance the proper way.

Let’s check out three effective strategies below.

Look to Tech Friendly Companies

Car insurance has traditionally been one of the most important sub fields of the insurance industry. With significant amounts of paper, regulation, and policies that are thicker than a brick, it’s no wonder the industry is made up of outdated practices. However, there is new life being breathed into the insurance world, and with the right companies you can actually get ahead. This doesn’t mean that the car insurance industry is changing overnight. However, what it does mean, is that people are starting to see new efficiencies being created and utilized within the field.

One of the most interesting ways that insurance companies are able to get more competitive with pricing is by using new tech in their design. With strategies such as Plug Ins, you will not only find a more individualized insurance rate but you will also be able to help yourself practice safe driving habits. Technology is just starting to jump into this industry as well, so whether it is the devices that go in the car, or the technology utilized on the back end of quoting, you have a much better chance of saving money for the same coverage.

Keep It All Together

It doesn’t matter what industry you’re in because bundling it all together can and will still save you money! This is especially true for an industry that is predominantly made up of administrative duties. The more coverage you can obtain by doing the same amount of processing, the less the fixed costs will be. This is especially true in the areas of billing, renewing policies, checking out your credit history and more.

The important thing to remember is that you also save yourself time (which is technically money) when you bundle policies together. You only need to contact one company or one agent. You only need to write one check. Plus, the comfort of knowing that all of your insurance is only with one or two companies eliminates excess amounts of paperwork like when you have a different insurance company for each of your policies.

Understanding the Service

Even if you might be willing to save a few dollars to switch, you absolutely cannot afford to be stood up when a claim happens. That’s why it is so important to understand what you are getting yourself into far before you write a new policy with a new company. You might not be a claims adjuster yourself, but you can already imagine just how important it is to have the right type of help when it comes to an accident or a claim. Furthermore, you wouldn’t want to be out of luck and without a vehicle because the discount company that you switched to is taking their time to go through the claims process. Even worse than that is if your claim gets denied or you find out that the policy language actually had more exclusions in it than was originally known.

You need to understand the company you are securing car insurance with and you need to understand who pays claims (as well as under what circumstances they do) before you even think about pulling the trigger on a new quote. That’s exactly why it makes sense to compare car insurance with a service like Coverhound, and then comb through any quotes you do receive with a close eye. Just because someone is going to charge you less doesn’t mean that they are actually going to give you equal coverage, let alone a better one.

Car insurance is an interesting subject. Not only are people oftentimes completely against using their hard earned money on it, but the displeasure is usually swallowed knowing it could really make an unfortunate scenario better in an instant. That’s exactly why you need to do all of the homework you can upfront, to ensure you are getting the proper coverage for you and your family, while still getting a rate you can afford.

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