What is usually the biggest mistake an owner can make with their rental? Despite our strong suggestions otherwise, in a hurry to re-lease a property the owner insists on starting to allow prospective tenants to see the home prior to the existing tenant completing a move-out, or funding a trash/clean out. One of two things occur..potential tenants are actually lost due to the condition of the home, or promises are made that cleaning, maintenance and painting will be completed..and the tenant’s expectations are established at a level that may not meet what the owner will complete or is possible. Why? Often, the owner approves the items but wants to accommodate a tenant moving in, and promises are made to repair something. Unfortunately, after the tenant moves in it is much more complicated to make the repair and for whatever reason it does not get made completely. The best practice is to show a property, and enter a lease, in a ready-to-move in condition with no list of repairs of maintenance promised.
Ultimately, losing a new tenant due to a bad showing appearance is costly. At any one time there exists a market for potential renters. They jump on any new property for rent. The first few days of a new listing are often some of the busiest. A bad impression will never bring those prospects back.
More importantly, really good tenants (you know the ones you want living in your property) expect to move into a clean, well maintained home and often can’t imagine what your property will look like once it meets their standards. Moving on to the next property is easier than imagining. I always use the first week of vacancy in a property to complete a full inspection of all maintenance items that might have been a tenants responsibility, but is usually not done to my level of expectation. Items such as gutters cleaned out, furnace filters changed, and most importantly a cleaning that is just not possible when a home is occupied.
Making the best first impression with potential new tenants establishes what type of owner and management company we are and what we will expect from our tenants. What kind of tenant rents a home that is dirty or needs repairs? Often it is a tenant that has set their standards lower. Is that really who you want renting your home?
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Tags: Indianapolis Property Management, Indianapolis Property Manager, Wilmoth
