Leasing Tip of the Day: Be Honest!

This tip comes from Ashlei Smith, our resident Corporate Housing Leasing Agent

Be honest about your property details and any other important information that would discourage/frustrate a renter once they move in. Photos of the inside/outside/neighborhood as well as details like a walk score included in your listing are the best way to honestly represent your property.

The benefits from being honest outweigh the benefits of getting a renter by ‘excluding’ negative information about your property. Why? Because it essentially benefits YOU, the owner.

1.) Being honest gets you the ‘right’ renter for your property. ‘Right’ meaning your property fits what that renter is looking for.

2.) Getting you the ‘right’ renter will ultimately lead to a longer lease term. The more comfortable a renter is in your property the less likely they will feel the need to move on. Whether they are looking to purchase a new home, lease a new property, or they are looking for an unfurnished property, a comfortable renter is less likely to push for a close on a home (or even start to look for one) or feel forced into signing a new lease on a different property. When they are comfortable with their environment, looking for new options becomes less of a priority.

3.) Being honest creates less of a chance for you, the owner, to have an unhappy renter. An unhappy renter could potentially create a hassle. Due to the fact that they are unhappy they will most likely complain about issues in the property, even if those issues aren’t relevant to their stay. This may be because they are unfortunately held to a signed lease and possibly feel was misrepresented. They may leave a negative review or demand their money back too.

4.) Being honest shows the prospective renter you are an honest owner, which will create a certain level of trust. Trust is beneficial when competing against other properties or options the renter is choosing from (this is very common for renters to appear as if you are the only option they are looking at when in fact they are choosing from multiple options).

5.) People talk. As much as you would like to think that a bad experience goes away when the renter does, that is very much not the truth. A bad reputation goes a LONG way. With the expansion of users online, it’s much easier to get the word out. An angry renter will have the motivation to spread this bad reputation also. Keep this in mind with dealing all renter experiences because a good reputation with a recommendation is almost a guaranteed future renter for your property as well as a perfect reference.

Keep it honest and you will save yourself time and energy.

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