Back to: Landlord Success: Proven Strategies & Practical Advice for Stress – Free Property Management
Showing the Property
The process of showing the property begins as soon as your current tenant gives notice they are moving out. You'll want to begin advertising the rental at least 5 weeks in advance if possible. This does a few things:
- Tells you what type of situation the prospective renter is in -- last minute (ditching their current landlord or being kicked out?) or planning ahead (they know they have to find a place for the end of next month so they want to line something up.)
- Provides a chance to pre-screen as many applicants as possible to find and select the perfect tenant without rushing.
When scheduling showings, you'll want to arrange a time with the existing tenant (i.e.: Tuesday and Thursday between 3 & 7 pm) and schedule 20 minute time slots for prospective applicants to see the property.
During the showing, remember you're inviting a stranger to your property so BE SAFE! Bring a friend or partner with you to the showings if you have any concerns at all about being alone during the process.
Meet the viewers at the door, invite them in and see if they take their shoes off (this is the first indication of how they will treat your home or property.) Walk around and show and describe the home. Explain what's included and verify the rent and damage deposit amounts. Discuss who pays utilities and have a casual conversation with them so you can get to know some of the following:
- How many people would be living here and who are they?
- Have you ever lived together before?
- Where are you currently working, and how long have you been working there?
- Are you a student? If so, remainder of time to complete your program. If still in school inquire as to how the rent will be paid.
- Why are you leaving your previous home?
- When would you be able to move in? Have you given your existing landlord notice? (This is important to see how they treat the existing landlord).
- How long of a lease would you like (we only do 1 year, but good to get an indication of how long they plan on staying).
- Do any of the tenant’s smoke? If yes, would you smoke inside or outside?
- With the new cannabis laws, I guess I should ask if you smoke, eat or grow Cannabis?
- Ask about any pets (if you are ok with pets ask to meet them or at least see pictures).
- How many vehicles do you have and what kind (especially if parking is limited).
- I ask them will you be running a business from the house if so what kind?
- I tell them that we look after the property maintenance, and we do not want the tenant to do any repairs or renovations without prior authorization.
- I will discuss who is responsible for yard maintenance and snow removal and ask if they are capable and willing to complete this maintenance.
- I discuss the neighbourhood amenities.
- Ask them if they have any other questions.
- Ask them “How this property compares to the other ones you have viewed. It is important to tell me the truth as you have been viewing the current marketplace” (this helps you verify how accurate your asking rental price is).
- I ask them if they think the property would be a good fit for them.
If they say yes, you can ask if they want to fill out an application form. Have them take it with them and either email, scan or text a photo of it to you.
Let them know you're taking applications and will get back to them after reference checks. Thank them for viewing and let them know you'll get back to them ASAP.
Two Golden Rules:
Never sign up a tenant without following up on references first
Never take money at a showing
If an applicant is ready with cash in hand for damage deposit and first month's rent, they may try to offer cash at the showing to secure an agreement with you for renting. It's important to do your due diligence in order to make sure you're selecting the best tenant for your property. That can only be done by checking references and looking for any red flags that would prevent you from signing a lease with the applicant.