Hosting an open house is an opportunity to showcase your rental property and create an excellent first impression with potential tenants. In this article, you’ll find steps to host a successful open house for your rental property that will attract the best tenants.
What Is a Rental Open House?
A rental open house is an event hosted by a landlord or property manager where interested renters can tour the property and ask any questions, as well as receive a rental application.
Prepare Your Property
Before you host an open house, ensure your rental property is in the best condition. Clean and repair any damage in every room. You should also check if the appliances, electricity, and plumbing work since potential tenants will be roaming through the home and may turn on the light and water to see if they are working. To create a homier feel, you could stage your rental with furniture so potential tenants can envision themselves inside your rental home. If you can’t afford to rent furniture to stage the house, make sure all the lights are on and open a window or two if the weather permits. Finally, if your property has a front or back yard, ensure the lawn is mowed and edged. If there’s a driveway, rake away all the leaves and plant flowers. The better your property looks, the more potential tenants you will attract.
Set a Date and Time
The best day to have your open house is on the weekend so you can ensure that all possible tenants can attend. If you are unavailable on the weekends, host your open house later during the week, after 5 pm, to ensure interested renters can come after work.
Advertise the Open House
To find suitable tenants for your property, you first need to advertise your open house. Start by posting your listing on a real estate website, like Apartments.com. On Apartments.com, you can upload photos, write a property description, and include your phone number and email address.
Next, add a “For Rent” yard sign on your property to catch the attention of passersby. On the yard sign, include your phone number and the time and date of the open house. If you have a property on a quiet street, place signs at the nearby blocks with balloons attached, directing interested renters where to go.
Since most renters today start their search for their next home online, be sure to post your property on social media with all the necessary information and the time and date of the open house. You can create a virtual flyer to post on multiple social media sites to attract searching renters.
Have Snacks
Food is a great way to connect with people, and it’s an even better way to make an excellent first impression. But this doesn’t mean you have to have a full meal. You can have small refreshments like candy or small bags of chips or cookies.
Organize Essential Documents
Before any potential tenants arrive, it’s a good idea to organize any documents into a packet for interested renters. Be sure to include a rental application, information on utilities, property rules, and your contact information so interested renters can ask any questions.
Create a Sign-In Sheet
As interested renters arrive, you will want to capture their contact information, so use a sign-in sheet to collect each person's name, phone numbers and email addresses so you can follow up with them later.
Welcome Potential Tenants
On the day of the open house, be welcoming, friendly, and professional. Greet each potential tenant at the door, offer them a property tour, and be ready to answer any questions during the tour. Once the tour is complete, let them look around on their own.
Follow Up
After the open house, follow up with potential tenants who expressed interest in your property. You can do this by sending out an email to each attendee, thanking them for coming and asking them if they have any questions for you.
Frequently Asked Questions
What if no one shows up to the open house?
If no one attended your open house and you hosted it during the week, try the weekend instead. Make sure you post the house on social media in local groups where your property is located. If you receive any interest at all, be sure to reach out and ask if they would like a tour of the property. If your rental price is too high compared to other rentals in the area, consider lowering it and hosting another open house to see if you can attract interested renters.
How do I show the rental if it’s occupied?
If a tenant currently occupies your property and you would like to host an open house, be sure you are courteous of their space. Ask them what time works best for you to host an open house, such as when they are at work. To ensure the property looks its best, hire a cleaning service. Since the home is occupied, the open house should be shorter than 2 hours. If an open house is not feasible because of your current tenant, schedule individual showings that are 30 minutes or less. No matter what, make sure you inform your tenant in advance.
Hosting an open house for your rental property can be an effective way to attract potential tenants who are the right fit for your property. By preparing your property, advertising the event, and being an accommodating host, you will increase your chances of securing a reliable tenant.
