Over the past 20 years there have been many changes to how prospective tenants are able to view a rental property.
Ten years ago, the policy of most agencies was that every property was advertised as "key in office" and opened for general inspection on a Saturday. At any one stage anywhere between 10 to 30 keys were available for prospective tenants to view vacant properties. They paid a deposit, took the key and viewed the property. As most of the interaction for a prospective tenant was with the receptionist, this didn't give the property manager a chance to discuss the property's finer points or gain the valuable feedback on a prospective tenant to make an informed decision.
Then came a shift to gathering prospective tenants feedback so we added “twilight” weekday viewings to our inspection policy . This strategy allowed your property manager to book and advertise an inspection time so any prospective tenants could arrange to view midweek.
Over the past 12 months we have experienced a new change in what prospective tenants want and how they view a property. Prospective tenants now prefer to view properties during their lunch breaks or by private appointment. This allows them to view their shortlisted properties during the week and give them back their weekend leisure time.
When there are a large number of similar style properties on the market, it is in our landlords best interests to get as many prospective tenants through their property at a time that suits them, "sell' the property's benefits and be able to answer any queries they may have on site. This strategy has resulted in more applications to rent, shorter leasing times and a reduction in vacancy periods.
The typical marketing plan that worked in the past may not be the best strategy for your property now. When discussing a marketing plan with your property manager ask for their recommendations on a personal open for inspection strategy based on your properties location and features.