As a landlord, your livelihood lies on whether your rental property is occupied. However, sometimes you may need to find new tenants with current ones still residing. It’s more challenging to handle property showings when your rental unit is being lived in.
Navigating this requires great negotiation skills with the current renters. You also need to find ways to get them to cooperate with your plan. Some tenants may not be open to the intrusion on their privacy. But when your leasing agreement stipulates this condition and they signed the contract, you should have no problem showing the unit to prospects.
Positives of Property Showings with Tenants
The great things about pushing through with property showings even when tenants still occupy your property are the following:
Consistent rental payments
You’ll avoid the payment interruption and won’t subject yourself to taking the maintenance expenses from your savings.
Seamless transfer of names on the utility bills
If there’s a gap between tenants, the utility bills will be changed to your name. Afterwards, you’ll need to transfer it to the new tenants when you find suitable ones.
Homes displaying furnishing look better than empty units
Prospects don’t have to imagine how the rental space will look like when it has furniture. Thus, furnished units tend to be more attractive and rent out quicker.
Negatives of Property Showings with Tenants
The downsides to showing a rental property with tenants are the following:
The rental space can be messy
Owing to the fact that the unit is occupied, you have less control over its appearance.
It can be in complete disarray, leaving the prospects unimpressed.
Repairs and property improvements need to be performed
Since you haven’t conducted the final walkthrough yet, damages can still be present. You’ll be showing a less-than-perfect rental home in the eyes of potential renters.
Current tenants may be uncooperative
Due to the nature of moving, the current tenants may be completely swamped with tasks. They may not have the free space to schedule the property showings. They might also not be comfortable showing their private space to strangers.
Tips for Showing a Property with Tenants
1. Set a reasonable schedule
Avoid scheduling the property showing too early. Who wants to crawl out of bed so early to let prospects look around their rental home? Remember that your tenants also need to rest, especially with their imminent move on the horizon.
At the same time, never schedule a property showing too late. The tenants may be catching up on rest or prefer not to be disturbed at late hours.
Strive for common ground. Better yet, allow your tenants to choose the appropriate time for them. It shows you respect their time and you’re working on creating the best schedule for their convenience. You can even show them different schedules so it’s easier for them to pick a designated period.
2. Send prior notice
Avoid conducting property showings without giving your tenants a notice. This shows you respect their privacy. As current renters, they have a right to quiet enjoyment. Send reminders in case the tenants forget about the showing prior to the day itself.
Some tenants will choose to be around on the property showings, while others prefer not to be there. Whatever your tenants’ preference, send a notice. It’s best to attach a list of the property showing schedules for the day or the week. It will help them manage their own schedules.
3. Communicate with tenants
Talk to your current tenants sincerely. Be open about wanting to avoid an income gap. Be upfront about needing cooperation. Find ways together that make property showings convenient for both of you.
When you’re able to articulate your perspective as a great landlord, you stand more of a chance of meeting your goal. At the same time, inform the tenants that you can achieve your purpose better with support from their side.
4. Show appreciation
Since you’ll need your tenant’s cooperation, provide them with little incentives. It shows your gratitude for their time.
Show how much you appreciate their support by giving convenient, useful gifts. It will make them feel that you value their support. Thus, they’ll likely be more cooperative.
Providing financial incentives are also welcome. You can reduce their last month’s rent or make it free. Renters will do their best to get your rental unit quickly occupied by keeping the place more organized. They’re also likely to allow interruptions to their day for the property showings.
5. Practice courtesy
Always be mindful of your tenants. Property showings can disrupt the flow of living. Therefore, be polite and create a schedule that’s amenable to both of you.
Be conscious of the time. Always ask for favorable periods for property showings. Show respect for your tenants’ time.
It’s best to not overload the week with too many property showings. If the tenant is away, showing prospects to the rental home more frequently is acceptable. Be smart and respectful when designing a schedule for property showings.
6. Request properly when asking the tenant for support
Showing the rental property is better in a clutter-free setting. Since your tenant still lives in the unit, this can be challenging. You have little control so you need to request kindly for your tenant’s cooperation. Ask them to:
Keep their pets in a cage
Having a pet can frighten off new prospects, especially when loud barking greets them at the door. It helps to keep the dog, or any pet, away during property showings. You need to enlist your tenant’s help for this.
A more organized home can entice prospects to apply for the rental. If your tenant is naturally drawn to cleaning, then this presents no problem. However, if this is too much to ask, you can always arrange a professional cleaning. It will unburden your tenant, especially one who’s busy packing up belongings.
Initially, it might seem challenging to conduct property showings while your rental home is still occupied. However, simply being more honest with your tenants can help solve this dilemma. You just need to honor their privacy and be polite while attending to the property showings.
It might also help make it easier if your leasing agreement contains specific conditions. You can state your right to conduct property showings when the tenant opts not to renew the tenancy. If you have any inquiries regarding this post, contact Real Canadian Property Management Solutions today and we’ll help you from every angle of the rental investment business.