After we have done our best to make the property rent ready, improved curb appeal, advertised the property, and set the price competitively the real proof that we have the right mix to attract a tenant is in the feedback we get from showings. Until we actually have a showing, everything we have done is based upon historical data. Setting the price is always based upon lagging indicators of what similar properties rented for last month.
We track as many of our leads as possible including leads from websites, emails, and phone. Then we track the number of showings scheduled and the number of showings completed. Based upon these numbers, we can gain insight into the current state of the market for your property.
For example, if we are getting a lot of web, email, and phone leads, but few scheduled showings, we can assume that the price is too high. People are looking at the property online or are driving past, but are not interested enough to schedule a showing.
If we have a good number of scheduled showings, but then the number of completed showings drop off, this is often an indication of poor curb appeal. The pictures look good and the price is attractive, so they schedule the showing. When they arrive at the showing, the curb appeal or the neighborhood turns them off and they don’t even bother completing the showing.
We can also gain additional insights from the comments of the prospects. With these real time market insights we follow up with you the property owner bi-weekly to determine if price needs to be changed or curb appeal improved. Time is money in rentals. This real time intelligence is critical for decreasing vacancy time and increasing your Return on Investment.
We understand property management and property investments. With over thirty years’ experience in property management and more than 300 offices in the United States and Canada, we have become the largest property management franchise in North America.