Welcome, Renters: Hosting an Open House for Rentals
FOR REALTORS/LANDLORDS: April 2023 Substack Exclusive
By Cameron Austin, Go4Rent Guest Writer
While open houses have been a standard practice across the real estate industry, they’ve generally been reserved for properties for sale—not rentals. But as the real estate market has shifted and more prospective buyers are opting to continue renting, open houses for rental properties have grown in popularity.
Why Open Houses for Rentals Are Valuable
Over 70% of renters reported touring at least one property before signing a lease, indicating that renters are eager to check everything out in person before committing.
For Realtors and landlords, one of the biggest benefits is connecting with several prospective renters simultaneously, saving time in scheduling multiple tours with different parties.
With strategic marketing, landlords and Realtors will generate buzz for the property, growing awareness organically and attracting interested renters in the area. Plus, multi-unit landlords have the added benefit of showing clients other potential units available if the initial property doesn’t fit their needs.
How to Host a Rental Open House
Here are some ways Realtors and landlords can prep for their rental open house:
5-7 days away:
Marketing—Hang flyers, add to the Multiple Listing Service (MLS) or post on real estate rental sites.
1-4 days away:
Give the current tenant notice—If a tenant occupies the rental unit, landlords and Realtors should double-check the current lease agreement and provide “reasonable” notice before scheduling or holding an open house. In Florida, “reasonable” notice is defined as 12 hours via confirmed email or phone call before entry into the rental unit. Texas law doesn’t specify how long is considered reasonable when notifying a tenant.
Stage or clean the unit—If the property is vacant, this is also the time to bring in any staging furniture or a cleaning crew to get the rental ready.
Day of:
Come prepared—Renters expect the open house host to answer questions about the available unit or home. The open house host should clearly understand the rental details, like what’s included in the rent or the steps in the application process.
Have a way to collect information—Whether it’s a sign-in sheet or a digital form, collecting information on attendees will help with follow-up and building a client database.
Create an enjoyable atmosphere—When renters tour the property, they want to feel relaxed and welcome. Some simple ways to do this include playing soft music in the background, lighting a candle or offering appetizers.
Day After:
Follow up—After the open house is complete, send a “thank you” email to give prospective renters the opportunity to move forward after the tour. Also, ask for feedback on the property to see if there are areas to improve for the next open house.
Keep this checklist nearby to stay organized for prospective renters for each home.
Don’t Make These Common Open House Mistakes
A well-attended open house can expedite the tenant search and grow a Realtor or landlord’s network. But even small errors can impact the effectiveness and create problems at the event.
Here are some common mistakes to avoid:
Hovering
Guests touring a property want to imagine themselves in the property. They don’t want to be followed through the house by the host. Instead, Realtors or landlords should offer to answer any questions and give prospective renters space to explore the property independently. This also applies to other guests. The host should work to control the crowd, ensuring there aren’t too many visitors at once.
Leaving Valuables Out
While hovering creates an unwelcome environment, allowing guests to wander independently can create the risk of theft. For occupied rentals, property owners should ask residing tenants to stow away all valuables.
Failing to Communicate
Leave a note on nearby buildings about the upcoming event, so neighbors can prepare for any unusual activity at the property. This may also be a chance for interested neighbors to tell their own social circle about an available rental.
Not Requesting That Tenants Leave
If the property is occupied, the current tenant and any pets should not be on site for the open house. An empty property will ensure guests can tour the property without uncomfortable interactions or distractions. Coordinating this involves direct communication and proper notice to the tenant so they can make plans to be away that day.
Messy Property
No matter how welcoming or prepared the host of an open house is, if the property is dirty or smells bad, it can be a turnoff to potential renters. Cleaning a vacant property is straightforward, but an occupied unit can present challenges. Incentivizing the tenant to clean or offering to hire a professional cleaner can be mutually beneficial and ensure the property is presentable.
With most renters touring a property before signing a lease, open houses can be a streamlined way to show a unit to multiple people at once. By offering an open house, Realtors and landlords can meet renters where they are—while saving time and money in the process.
Do you want more information about Go4Rent’s services? Are you a Texas or Florida resident looking for a new home? Visit Go4Rent.com today!