Renting out a property comes with many benefits and some challenges. One challenge can be showing a rental property. As a landlord, this can be a tedious task that demands a lot out of your busy schedule. Property managers, on the other hand, have the expertise and dedicated time to show properties to a wide range of potential tenants. Learn the key differences between each approach in our helpful guide!
A Landlord’s Approach to Showing a Rental Property
Landlords will often take a hands-on approach when showing their rental properties. This can be appealing to prospective tenants as it offers a personal touch and lets them get an idea of who they’ll be dealing with monthly. Landlords will typically handle all aspects of the showing process, including scheduling appointments and conducting tours of the property.
This approach comes with its limitations as landlords may lack the time and resources to manage multiple showings effectively, especially considering they may have other engagements. This can lead to delayed responses to tenant inquiries and potential scheduling conflicts. All of which can ultimately lead to less polished presentations, which may in turn reduce the likelihood of securing a lease quickly.
A Property Manager’s Approach to Showing a Rental Property
Property managers bring a high level of professionalism and efficiency to the process of showing a rental property. Unlike landlords who may juggle several other responsibilities, property managers specialize in managing rental properties full-time, allowing them to dedicate all the necessary attention to each showing. This is done partly through streamlined systems to schedule tours, ensuring that multiple showings are handled smoothly and with little to no scheduling conflicts.
Property managers also bring marketing expertise to the table. They can present a property in its best light using techniques such as professional staging and high-quality photography to attract prospective tenants. They also employ digital marketing tools to list properties on multiple rental platforms and use data-driven strategies to reach the right type of tenant.
Key Differences Between a Landlord’s Approach and a Property Manager’s Approach
Both approaches differ in effectiveness, but each holds its own value. Significant differences can be seen in areas like time management, communication, and marketing strategies.
Time Management
Landlords often lead busy lives and can get bogged down by simultaneous engagements, making it difficult to manage multiple showings, delays in answering tenant queries, and may lead to overall poor presentations. On the other hand, property managers handle rental properties as a full-time profession, making them much more flexible and efficient when it comes to handling multiple showings.
Communication
Landlords offer a personal communication style, which can be a good selling point for some tenants. They are often emotionally vested in the property and can speak directly about its unique features. However, this personal connection may sometimes stand in the way of effective negotiation and difficult tenant inquiries. Property managers are trained in professional communication, enabling them to approach interactions with tenants in a structured, business-like manner, while remaining approachable.
Marketing Strategies
Landlords may rely on more traditional methods of marketing, such as word of mouth or posting ads on a limited number of rental websites. This may limit the pool of prospective tenants. Property managers, by contrast, employ advanced marketing strategies, using a wide array of tools like online listings, social media, and digital advertising to showcase properties.
For more information on rental property showings and how GIL can help you through the process, contact us or request a free property management consultation!
