Copyright Douglas Barnes 2013
Showing Your Rental Property in Cape Cod and South Shore
Having researched and followed applicable laws with regard to renting out your property, setting an appropriate rent and security deposit, making the home ready to rent to new residents and writing a stellar ad to get attention of those prospective residents; your phone and email should now be getting inquiries to visit the property. Our Cape Cod property management service will help you better understand how to show your rental property effectively in the regions of Cape Cod and South Shore.
Most new landlords in Cape Cod and Taunton think they will amply spend about half an hour to show their rental property. Even if you live within 100 yards of your rental home, this simply is not the case. Showing a rental property will require significant time for initial discussion on the phone, applicant paperwork, and driving to/from your property. As such, time management becomes key to find a quality and qualified renter for your home. Our services for property management in Weymouth and other cities recommends these few things to keep in mind as you schedule your time and expenses for tax purposes are as follows per showing:
- Time spent on phone for initial discussion, plan to talk 15-20 minutes.
- Setting up viewing appointments.
- Drive to property, show tenant inside and outside, all features, 25 to 60 minutes.
- Applicant will fill out paperwork, this varies greatly; anywhere from 15 minutes to 3 days or longer.
- Screening applicants – 1 to two hours.
- Car mileage: 57.5 cents per mile. If property ten miles away, then total mileage deduction would be $11.50 per each time driven.
- Car gas – About one gallon per visit – about $2.50 per gallon.
- Each showing will require 1.5 hours, $11 of wear & tear on car, and $2.50 in gas.
Another trap many new landlords fall into is showing the property once and taking the first applicant with money in hand. However, it takes on average 7 to 15 showings to find a quality and qualified applicant. Based on the above numbers per showing, performing 7 to 15 showings will burn approximately 10-20 hours of your time, $80-$230 for wear and tear on your car, $17 to $37 in gas, and $100 in time spent screening.
The above information should give you a solid idea as to the time and costs required for showing your property so that you can plan accordingly. For more information, see our Landlord Calculator.
For reliable tenant screening and showing your property contact Real Property Management Associates, Call 508-509-4485.