When you have a property that’s up for rent, it might make sense to organise a multiple showing, or an open house. This is especially true for residential properties.
An open house has the advantage of saving you a lot of time, and allows you to schedule your week better. It is best to schedule an open house during the weekend or after office hours, which is the time most prospective tenants allocate for house hunting. This might require you to provide information to prospects ahead of time so that you can plan better.
Another advantage that an open house gives you is that it creates a little bit of additional excitement among potential tenants. It also becomes a little bit of a competition between them. The applicants feel an urgency to close the deal on the spot, which usually helps you secure a better deal for the property.
It helps to keep application and receipt forms handy during an open house. It is also important to be prepared with all the information with regards to the property itself, in order to answer any questions that applicants may ask.
An open house also allows you to observe the potential tenants at close hand without being intrusive or appearing obvious. In a one-to-one meeting, prospective clients usually try to be at their best, and could turn out to be quiet different later on. A multiple showing gives you a chance to observe the applicants in a more open environment, which may reveal behaviour that could otherwise be difficult to spot.
