Alex Smith here from Evernest, Chattanooga, with another installment of Questions Owners Ask. Today’s question is, “How many showings will it take to get an application on my rental house in Chattanooga?”
On average, it takes between three and four showings before we can expect that first application. Sometimes it takes more, sometimes it takes less. There are several factors that influence that.
All you really need is that one person to come through, love the house, put in an application, and be approved. However on average, we’ve found it takes between three and four showings.
If you have a lot of showings and not necessarily the number of applications that you were hoping for, there could be a couple issues.
The first could be a price issue. Try lowering that price, and see if that entices anyone.
The second thing that could be affecting your number of applications is what we like to call a “product issue.”
Maybe you’ve got some maintenance issues you weren’t aware of that tenants are finding. If they’re not sure that you will take care of the issues before they move in, it could dissuade them from applying.
We like to call prospects that have seen the house recently and see if there are any recurring. If there are, we need to get out to the house and take care of them.
A couple things to keep in mind there. If you have any other questions, feel free to reach out! We would love to hear from you!
Matthew is the CEO of Evernest. He is a student of the book Good to Great and is passionate about building the best property management company on the planet (and maybe even the universe if Elon Musk will hurry up). You can usually find Matthew at the baseball field with his son, at a dance recital with his daughter, or at his favorite restaurant with his wife, when he’s not in the office. And if you can’t find him in any of those places, it probably means he’s traveling.