How do I close the deal? - Landlord Forum thread

How do I close the deal? by Anonymous on August 2, 2012 @18:48

I have good prequal questions I ask over the phone, then I decide if I'll show it to them (they've already seen a video online of the place). So I go show it to them and ask them if they're interested and 90% say yes. I hand them an application and rarely get it back. They can email, fax or snail mail it to me. Should I have a table and chairs set up for them to fill out the app on the spot? I usually show vacant units unless the current tenant is super clean and nicely decorated. I don't know how to take it to the next step.

thanks for your help!

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Re: How do I close the deal? by Jake on August 2, 2012 @19:40	[ Reply ]

Almost all of the interested parties who come to look at your rental will not be qualified. They take the application because they do not want to tell you to your face that they are not qualified. So do not set up a table and ask lookers to fill it out right then and there. A stack of unqualified applicants to sort through will just soak up your time and energy. Just why unqualified applicants come to look is a bit of a mystery. Perhaps many they believe they can somehow size you up as a sucker and get in without a deposit, credit check or even the first months rent and the utilities are still connected. Believe it or not, this happens.

Re: How do I close the deal? by jannie (IL) on August 2, 2012 @20:07	[ Reply ]

I had that happen, although with prescreening questions I cut out showing to people who weren't qualifed by a lot. I explained that I would be showing to several. 1st. looked at it and was perfect - but didn't want an app. as she'd just bought a car, had payments & couldn't afford at that rent (hinting - lower rent). 2nd. walked through took app. & took pictures for partner - no application. 3rd & 4th the 4th came early and (according to 3rd indicated they were renting it. 4th took app and pictures for partner never. 3rd. I didn't seal the deal and asked for boyfriend to fill out app. (nothing) 5th Great couple - perfect - filled out app. turned us down for newer place same price. 6th. didn't fill out app, perfect couple - rented bigger SFH, 7th Single guy renting now. And, I think a couple would have worked better with a table & chair. But some people are just curious.

Re: How do I close the deal? by Anna Mouse on August 2, 2012 @21:16	[ Reply ]

What I did is emailed the application prior to the showing. I felt this took all the guess work out. I said I am going to email this application and if you wish you can have it filled out prior to the showing. I instructed them that they needed to print it out and I need a hard copy if they were interested in handing it in. This worked well for me.

Re: How do I close the deal?

Re: How do I close the deal? by NY-LL on August 2, 2012 @23:11	[ Reply ]

We require interested prospective tenants to provide confirmation of credit, income and employment with a financial rental binder, prior to completion of the written rental application. We obtain written authorization signed by the tenants to perform credit, financial and background checks when the rental binder is received. We know we have a serious tenant with the delivery of the financial rental binder, the income and employment confirmation, and written authorization for landlord verification of income, identity, and financials. The rental application is completed by the tenant during the landlord’s verification process and generally returned with or within a few days of the requested documentation.

Re: How do I close the deal? by Anonymous on August 5, 2012 @22:02	[ Reply ]

One of my before you see it statements is "you must have three times the rental amount in verifiable income." You can let them stand at the kitchen counter to fill out the application. I find people are more often taking the application with them than they did years ago. Tell them on the phone before they view it is their choice if they want to fill it out while they are there or if they want to take an app with them if they are interested. I had one that came from out of state, so I filled out the app with her by phone. Eliminate some of the tire kickers by giving them the address two days before the appt to see it, and have them drive by. Tell them to call you to confirm the appt one hour before arrival. If they can do these two things, let the place sell itself.