It’s time to find new tenants for your rental home but your current tenants still have a month left on their lease. Here are six things to consider when showing a rental property with tenants.
Tips for Showing a Rental Property With Tenants
Work with the Current Tenants
Remember that showing a home for rent is quite comparable to showing a home for sell. It’s important that the home be clean, smell fresh, and look like a prospective home to those touring it. In order to make this happen you’ll want to work closely with the current tenants.
Be sure to communicate clearly with your tenants the timing of showings and expectations for these showings. Answer questions like: Do you want them vacant from the premises? If so, for how long? Prior to the showing, touch base with them again confirming that you will be arriving with the prospective clients the next day at the designated time. Repeat your agreed upon expectations at this time.
Open House vs. Individual Showings
The manner by which you show your home should be highly dependent upon your availability and the convenience of your current tenants. With private showings, you can line up the appointment with a time when your tenant will naturally be out of the home or can run an errand to fill the time. If you plan an entire day of showings, be sure to communicate with your current tenants so they can plan accordingly. Be mindful of families with smaller children. It will be more difficult for them to pick up and go for an entire day. You need their cooperation and they need their children to nap. It is best to find a way to work around those situations.
As you go through the process of showing your home, you’ll have quite a few schedules to coordinate. Your own, the current residents, and the prospective tenants. When possible, line up the showing times when the tenants are naturally away from the rental. For example, schedule showings during their work hours. Those that are looking for a home will understand that there are residents in the home and will be surprisingly cooperative. They’ll also feel better about having you as a landlord when they see with what great care you work with both the current residents and prospective clients.
The Showing Process
Be sure to knock prior to entrance even if your tenants have agreed to leave prior to the showing. If there are pets in the home, request that animals be properly secured. There’s nothing more unsettling than entering a home unaware of an animal.
If the current tenants come up in conversation, speak about them respectfully. Don’t sugar coat negative situations or dismiss reasons for your tenants leaving but keep it diplomatic. Be mindful that if you speak poorly of the current residents, they will wonder how will you speak of them as the new tenants.
Incentives for Current Renters
You can thank your tenants for their flexibility in many ways.
Offer reduced rent as a thank you for cooperating with the home-showing process.
Provide gifts cards to restaurants as a thank you to your tenants.
You may want to pay for yard maintenance during the time you are showing your rental, even if your tenant is typically responsible for maintaining the yard. This will improve the overall curb appeal.
Remember that the house is currently lived in. A home that is currently lived in will have natural odors, be it cooking, or overflowing laundry. Offer to pay for a cleaning service.
This may seem a bit over the top but there is a lot of benefit to not having an empty rental during showings. According to Zillow, homes with furniture sell more readily. It is safe to assume that rentals have a similar success rate. There is also no lapse in income from the property. With this in mind, incentives like a cleaning service or reduced rent can be very cost-effective.
Not all tenants will be cooperative in the showing process. If that is the case, it may be worth having an empty home to show. The break income may be much better than working with the headache of a non-cooperative tenant.
Finding the right tenants for your rental property can be time-consuming and difficult. Check out these tips for screening your tenants!
If you decide you no longer want to rent your property, we’d love to help! If you’re in the Indianapolis area, Ben Buys Indy Houses will purchase your home in AS IS condition. That includes damage from your last tenant! Contact us and we’ll walk you through the process!