Hey everybody. Alex Smith here from the gkhouses office in Chattanooga and this another installment of Questions Owners Ask.
Today’s question is, “How many showings can I expect before I get my first application on my rental house?”
And what we found is that, on average, it takes between 3 and 4 showings before we can expect that first application.
Again, that’s the average. Sometimes it takes more, sometimes it takes less. There’s a number of factors that kinda influence that.
All you really need is that one person to come through, love the house, put in an application and be approved. But, on average, what we’ve found is between 3 and 4 showings is the number there.
If you have a lot of showings and not necessarily the number of applications that you were hoping for, there could be a couple issues going on.
The first could be, maybe you’ve got a price issue. So maybe just try lowering that price, see if that entices anybody.
The second thing that could be going on is maybe you have what we like to call a “product issue”.
So, you know, maybe you’ve got some maintenance that you weren’t aware of that tenants are seeing that, you know, they’re not sure if you’re gonna take care of before they move in and maybe that’s dissuading them from applying.
What we like to do is we like to call up, you know, some people that have seen the house recently and see if there’s, you know, any recurring themes or, you know, if the same things keep popping up then maybe we need to get out to the house and take care of.
So, a couple things to keep in mind there, but that’s it for today’s edition of Questions Owners Ask. Thanks everybody.