When you’re trying to fill a vacant rental property, getting potential tenants through the door is a big part of the leasing process.
But should you schedule individual rental property showings, or would a rental open house make more sense?
It really depends on the property, the amount of interest, and how much time you want to spend coordinating appointments.
For property managers, knowing when to use each option can make the leasing process a lot more efficient.
Here’s a breakdown of the pros and cons of rental open houses and individual rental showings, plus when each one makes the most sense.
- What Is a Rental Open House?
- What Is an Individual Rental Showing?
- Rental Open House vs. Rental Showing: What’s the Difference?
- When Should You Host an Open House for a Rental Property?
- When Should You Schedule Individual Rental Property Showings?
- You Can Use Both Rental Open Houses and Individual Showings
- Make Rental Showings and Open Houses Easier with Showami
What Is a Rental Open House?
A rental open house gives multiple potential tenants the opportunity to tour a rental property during one scheduled block of time.
Instead of coordinating separate appointments throughout the day or week, you can group several interested renters into one window.
When a rental is getting a lot of interest, grouping multiple showings into one scheduled window can save time and make the process easier to manage.
With Showami, property managers can request a licensed, on-demand showing agent to stay at the property during the scheduled open house and assist potential tenants as they arrive.
Pros of a Rental Open House
A rental open house can help you:
- Show the property to several interested renters during one time block
- Spend less time going back and forth to coordinate schedules
- Cut down on repeat trips to the same property
- Make high-interest rentals easier to manage
- Free up your team to focus on other property management tasks
- Replace several separate appointments with one scheduled showing window
If you already have several interested renters, grouping those rental tours together can save a lot of time.
Cons of a Rental Open House
Rental open houses are not always the best option.
Some renters may not be available during the scheduled window, while others may prefer a more private tour of the property.
An open house also makes the most sense when there is enough interest to justify having someone at the property for a longer period of time.
If only one or two prospective tenants want to see the property, an individual rental showing may be the easier option.
What Is an Individual Rental Showing?
An individual rental showing gives a prospective tenant or small group their own scheduled time to tour the property.
Individual rental property showings are a great option when interest is lower or when you need more flexibility with scheduling.
Pros of Individual Rental Showings
Individual rental showings can help you:
- Give renters more scheduling flexibility
- Accommodate prospects who cannot make an open house
- Give potential tenants a more personalized rental tour
- Get someone into the property quickly when they are ready to tour
- Keep showings moving even when interest is still limited
They can work especially well when rental inquiries are coming in at different times throughout the week.
Cons of Individual Rental Showings
The biggest downside is time.
If several prospective tenants want to see the same rental property, individual appointments can quickly turn into a lot of scheduling, driving, and repeat trips.
That is usually the point where hosting a rental open house starts to make more sense.
Rental Open House vs. Rental Showing: What’s the Difference?
The main difference between a rental open house and an individual rental showing comes down to how many potential tenants you are trying to accommodate and how you want to schedule them.
Individual showings work well when one renter or a small group wants to see the property at a specific time, while a rental open house can make more sense when several potential tenants are interested.
You also do not have to choose one option for the entire leasing process. A combination of both can work really well.
When Should You Host an Open House for a Rental Property?
A rental open house can be a great option when:
You Have Several Interested Renters
If your property is getting a lot of inquiries, you may not need to schedule every showing separately.
Instead, you can group several interested renters into one open house window and make the showing process a lot easier to manage.
Your Team Is Already Busy
Property managers already have a lot on their plate.
Between applications, maintenance, resident communication, inspections, move-ins, and move-outs, rental showings can quickly take up a lot of time.
Grouping several tours into one open house window can help free up your team for everything else that needs to get done.
Several Renters Want Similar Times
If three or four renters all want to see the property on Saturday afternoon, it may make more sense to group them into one open house instead of scheduling several separate tours.
You Are Managing Multiple Vacancies
Managing several vacant rentals at once can make scheduling even more complicated.
Using open house windows can help you stay organized, reduce repeat trips, and make it easier to keep multiple properties moving through the leasing process.
When Should You Schedule Individual Rental Property Showings?
An individual rental showing can make more sense when:
You Only Have One or Two Interested Renters
If only one or two renters are interested, there may not be a reason to set up a full open house.
An individual showing lets you get them into the property without waiting for more inquiries to come in.
A Renter Cannot Make the Open House
Even if you already have an open house scheduled, the timing may not work for everyone.
An individual showing gives interested renters another chance to see the property without missing out.
The Property Needs a Little More Explanation
Some rentals have unique features, access instructions, or details that are easier to walk through one-on-one.
In those cases, an individual showing can make the tour easier for both the potential tenant and the person showing the property.
You Need to Get Someone In Quickly
Sometimes a renter is ready to tour right away.
If an individual showing can happen sooner than your next open house, it may make sense to get them through the door while they are still interested.
You Can Use Both Rental Open Houses and Individual Showings
For a lot of property managers, the best approach is not choosing between rental open houses and individual rental property showings.
It is using both when they make sense.
For example, you could schedule a rental open house on Saturday for most of your interested prospects, then use individual showings during the week for anyone who can’t attend.
That gives you the efficiency of an open house while still keeping your rental showing schedule flexible.
Make Rental Showings and Open Houses Easier with Showami
Whether you need coverage for one rental property showing or want a licensed showing agent to host a rental open house, Showami can help.
Property managers can request on-demand licensed showing agents to assist with rental showings and rental open houses, helping teams keep the leasing process moving without having to attend every rental tour themselves.
And when several potential tenants want to see the same rental property, hosting an open house can be an efficient way to group those tours into one scheduled window instead of showing the same property over and over.
Have multiple prospective tenants ready to tour?