How to fill your vacancy and rent faster

The Telephone Sale

The phone is usually your first contact and you need to generate interest in the contact. The sales staff will tell you that you only have a few seconds to capture someone’s interest. The goal is to answer the question in a way that is enthusiastic and creates the desire to see your vacancy.

Get the appointment

The obvious reason a prospective tenant calls is to find out about the rent. The obvious reason you are picking up the phone is to get the viewing appointment. Not only are you providing information, but you are trying to rate the caller to see if they fit in and then create enough interest to get the viewing appointment.

* Role play: make believe that you are the caller and imagine what the most common questions are. Have a good answer that shows confidence and enthusiasm. Practice!

Link: Don’t just stick to the facts. You want to get the attention of the caller. Consider some positive and interesting ways to describe the unit or neighborhood. Write them as catchy sentences and prepare to use them.

* Know the caller: To generate interest with the caller, you should try to have a contact conversation. Find ways to develop a common interest. It can be as simple as having been where they are from or playing sports. Anything, to help create a feeling of friendship. Become the master of the five minute relationship.

* Know your unit – This is important because you need to create interest and you need to be prepared and enthusiastic. Create an interest rate that makes the caller want to know more and see the unit.

* Sell Enthusiasm – After you’ve given the caller the basics ENGAGE IT, prepare to be excited about their positives. Earn real interest and GET that quote

o If the caller is married, be excited about the school or community center that offers classes for two-year-olds, etc. Is there a park nearby?

o If the caller is single or of a higher level, be prepared to talk about restaurants or easy transportation to the theater or museums. Create interest.

o Is it on the top floor or is it quiet or does it have good light? Is it near a gym? Find the EMOTIONAL qualities of your unit

o It seems that tenants love the hardwood floors, the light, the views, and the quiet. Emphasize without seeming to sell.

Gathering Information … Ask Qualifying Questions

* Full name, address, phone number, alternate number or email cell and URL, please read the information.

* Ask if there is anything else you can bring to help the viewer decide.

* Don’t forget to bring a pen, application and a convenient way to fill out the application.

* It is not a bad idea to let a friend know that you will be showing them this apartment and agree to call them shortly after. This way, in the unlikely event that a problem does arise, you can arrange some help in advance.

The view

* Consider creating multiple appointments fifteen minutes apart. People like to have some privacy for sensitive questions and answers.

* Be positive about the property and emphasize its positive points.

* While selling the merits of the property, connect with the viewer. Ask questions, be polite, and observe and learn about the potential customer. If you ask, they will tell you what they want and you can emphasize their needs as part of your presentation.

Observed:

* Did they show up on time?

* Did they make a good impression on you and how did you feel about them?

* Do you smell smoke or alcohol?

* They were loud or disrespectful.

* Don’t be afraid to ask for the app. You are not too daring, remember that you are selling this vacancy to the right person and politely asking if they would like to apply is a compliment.

* Always have an application form with you and a receipt book for any cash deposits that have been made.

* Can you leave a refundable retention deposit or application fee?

* The more often you get a viewer into the process, the more likely they are to follow you.

The application:

Please use a completed application form. Make sure all sections of the form are completed, dated and signed and that one form is required for each adult occupant.

The application must include:

* Employment, income and credit history

* Social security numbers and driver’s license

* Previous evictions or bankruptcies

* References

* The tenant application form is crucial and the most important document after the lease. It contains the address, the rent and the required security deposit.

* It is the basis of the tenant selection process. You must provide enough information to allow the landlord to contact the tenant or relative.

* Credit checks are mandatory. Most states will limit the amount of money you can charge for an application fee, but you should always cover the cost of the credit report. The application fee should cover this cost plus processing time. Discovering a deadlock before hiring is worth all that cost and effort.

* Tell your prospects that their request will be considered and give them a response time. I’d bet on a two-day shutdown, waiting too long can cause some renters to move elsewhere. Remember, many tenants will have another option. Don’t keep them waiting if possible. Closing the loop reduces anxiety and helps each side understand what to expect.

* Look for inconsistencies in the information: does everything add up?

* Call previous owners, never current owner, for confirmation of a good lease and ask the following:

Good question:

* Did you pay your rent on time?

* Did he / she follow the house rules?

* When did the tenant move and when and why did they move?

* Did you give adequate written notice, usually thirty days?

* Did you leave the unit in good condition?

* Would the landlord rent to you again?

* Applicant must reveal the name and address of at least the last two owners and go back at least three years.

* Require at least two recent pay stubs to accompany the completed employment verification form.

* Self-employed persons must provide two years of IRS tax returns. Few people will inflate income to the IRS.

* Please note the Federal Credit Reporting Act requirements to request credit checks from prospective tenants.

* Create a simple checklist of all the documents needed to complete the application verification process, so that the tenant can have everything they need ready for the lease signing.

* Create a simple form with the amounts of the security deposit and rent and instructions on how to pay the type of check required. You can include the law on when deposits must be returned by visiting our website here

* Remember to inform prospects that you have declined; be prepared to objectively justify why you rejected them. Remember to keep all your records as evidence, in case you are accused of discrimination.

* Be safe and create a fair and objective set of criteria and apply them to all applicants.

Fair Housing

Avoid discrimination lawsuits

Fair housing laws specify clearly illegal reasons for refusing to rent: race, religion, ethnicity, sex, age, or because you have children or a disability. For a more in-depth discussion, see Fair Housing Explained

There are legal reasons for refusing to rent:

* Your rental criteria.

* Poor credit history, insufficient income to pay rent

* Past behavior, such as damaging property, makes that person a great risk.

* A valid occupancy policy that limits the number of people per rental unit. Know your state’s law before turning tenants away based on the number of people allowed in your unit.

The signing of the lease

* Use a quality contract or a lease. You can buy all the necessary legal agreements or applications and all the process forms from your local apartment association.

* You can ask an attorney to prepare a lease for you, but unless it is a commercial lease, your apartment association should be all you need.

* Finally, after you have completed the inventory or moving checklist, (which could ideally include photographic evidence), review the content of the agreement with the prospect. It is a good idea for the tenant to initial each important page or paragraph. If there is a dispute later, you can refer to the lease and the initialed paragraph.

* Make sure your documentation is in order before signing the lease. All dates and signatures in place and all addendums covering any special circumstances that you have agreed to are signed and dated.

Howard Bell for yourpropertypath.com

Add a Comment

Your email address will not be published. Required fields are marked *