21:37 PM, 12th July 2012, About 10 years ago 1
I thought I’d share with you how we manage to close so many of our tenant prospects. Our secret lies in understanding the barriers that most agents put in place to put off tenants!
First, they require potential tenants to complete L O N G application forms (or duplicate/triplicate ones if multi applicants) which they must some how get to their offices (only open 9 – 5, and not weekends. Not great if you are working!). They could of course rely on snail mail…. Then they worry that the application process will take around 7 days when they need to get on with their house moving plans now.
Then letting agents demand large application fees. Agents are more concerned at the size of this fee than renting the house quickly, because this is where they make their money!
Now you need to understand this from a tenants point of view. They believe that they will pay this fee with the strong prospect that they will be unsuccessful. Given this quite rational fear, is it any wonder why many people who view do not apply?
Now, any good sales person will tell you that you that to achieve a successful sale, you need to overcome these barriers.
We have a simple 3 step solution to close tenant prospects;
1. Tenants apply by phone or online. Lines are open 24/7. The application process is therefore instant. Our Property Managers are encouraged to get interested tenants to apply by phone whilst at the viewing.
2. We do not charge an initial application fee! So a tenant can apply, we’ll credit check them, and if successfully pre-approved, only then do we charge a one off fee of £149. This process is completed within one day!
3. If for whatever reason the tenant’s application is then unsuccessful, for example, the landlord prefers one of the many applicants, the fee is refunded in full. Prospects can apply with complete peace of mind without having to wait around.
This means that we get more applicants, more quickly and the landlord rents their house sooner. They also have a larger pool of applicants to choose from.