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REI Tech

“Hello, Room Service? Send Up a New Tenant Please.”

Ugh. All you landlords out there know that feeling. The feeling you get when a good tenant texts/emails/calls you and gives notice they are moving out.

Now the fun begins. Your mind starts thinking of all the things you have to do to fill your vacancy. It’s headache city when you have to:

  • Deal with move-out checklists
  • Coordinate any repairs and cleaning
  • Argue over how much the security deposit refund will be
  • Start marketing for other tenants (write ads, put up signs, network, etc.)
  • Deal with inquiries over text, email and phone
  • Schedule showings
  • Run applications
  • Turn down tenants who tell you being a pedophile is ‘not that bad’
  • Sign leases
  • Coordinate utilities
  • Blah, blah, blah…

Wouldn’t it be nice to do it yourself without having to do it alone?

Technology to the Rescue

You knew there had to be a tech solution. (After all, this is the tech section of Real Estate Mogul.)

All you burned out landlords should check out the Tenant Turner (TT) website. The website was started by three guys who all own rental properties. They were feeling a little annoyed by the tenant acquisition process and thought other people might be as well.

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They were right.

The founders want to take all the hassles out of turning your properties. The company is geared to providing high-quality tenant prospects who will view the property when it is convenient for you.

Once you determine which tenants you want, Tenant Turner will screen the tenant for you and verify they are a good fit for your property.

In other words, all you will have to do is:

  • Tell Tenant Turner what kind of tenant you want
  • Let them know when you are available
  • Show the property
  • Select a tenant

That’s it.  For you anyway. 

“Pay No Attention to That Man Behind the Website”

TT starts the process after you register on the site. They will ask you to provide information about the property and required qualifications for a tenant. Then their staff will go to work behind the scenes.

What’s nice is that they will customize the marketing for each property.

Have a rental property right on Wall Street? Tell them you’ll take only people with perfect credit.

Have a property in downtown Baghdad? You’ll probably want Tenant Turner to check for ISIS affiliation.

And the whole range in between.

As long as there is no illegal discrimination involved, each property can be different.

Based on the information you provide, Tenant Turner will create the marketing on the web for your rental unit. They will blast ads out to all the major websites. You won’t have to worry about being ‘ghosted’ on Craigslist anymore, or think about reposting your ads to keep them fresh… 

Tenant Turner takes care of all that for you.

They will also do a market survey for you and suggest a range that you can charge for rent. Ultimately though, all the decisions are left up to you.

Once the marketing is out there, all incoming communication goes to Tenant Turner, not to you. Tenant Turner prescreens all prospective leads based on your criteria. At this point, the people at TT will not be doing a formal background check. They will ask people to self-identify any problems.

Tenant Turner gives the prospects a ‘suitability score’ and puts them on a customized screen for you to see.

For those who meet your criteria, TT will schedule showings based on what you input as your availability.

Just Show Up To Claim Your Prize

All you have to do is meet the prospect(s) at your property and decide which one you want as your new tenant.

No shows? Not really. TT automatically texts prospective tenants prior to their show time to remind them to be there.

After you finish the showings, Tenant Turner will run a background check on the prospective tenant for you and let you know the results.

Then you’re ready to sign the lease, get the new tenant moved in, and start the cash flow all over again.

But TT’s service doesn’t end there. Tenant Turner offers a dashboard for you to keep track of metrics on all your properties.

If you are using a property manager, you can track how they are doing with showing your properties. Otherwise, you can see

  • How long it takes to rent your properties
  • How you are doing overall with all your rentals, and
  • What showings you might have coming up.

Property Management Service, Without the Property Management Fees

Tenant Turner is much less expensive than having a management company rent out your property. If you have less than 10 properties, you can just pay TT when you have a vacancy. 

If you pay by the vacancy, it’s just $119 per rental. The folks at Tenant Turner have found on average their services save a landlord 16 hours per rental.

Even if you value your time at $10/hour (you should never value it that low), you would still be saving money over doing it yourself.

The site is also mobile accessible. You don’t have to change what you’re doing each day to manage your vacancies – just work with Tenant Turner via smartphone.

If you have a lot of properties or you’re a property manager yourself (sorry – didn’t mean to put down you guys in this lesspon – you can still use it for your company), you can sign up for subscription-based pricing. This is for people who anticipate they will have more than 11 vacancies in a year. You then pay $79 per vacancy.

Another nice feature for multiple property owners is that TT can send tenant leads from one property to another if the tenant fits criteria at both properties and the tenant is willing.

So if you are getting burned out by all the hassles of renting out your properties, it may be time to start using Tenant Turner. The website works especially well for landlords in hot markets who get tons of calls, and for slow markets, where lots of advertising is needed.

Talk to Us

Would you use this helpful site? Have you? Tell us about it in the comments section below.

 

Do It To It! Immediate Action Steps

Save Time – Time really is money in real estate or any other aspect of your life. It’s important to figure out ways to maximize your return while minimizing your time working.

Use Tech as a Team Member – People are expensive. Look at new technologies and alternate ways of doing things before rushing out and hiring people just because you feel overwhelmed.

Analyze Your Rentals – It’s easy to get caught up in the day-to-day tactical stuff. That’s NOT where the money is. Take some time to analyze your business. Which houses are making you money? Which ones cost you? Is it time to sell some? Raise rents? Kick tenants out? You’ll never know unless you do some analysis.

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