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Keep marketing until you take the deposit!

By
Services for Real Estate Pros with Homepointe

Here is another reminder to always continue to market your vacants until you physically take the security deposit.  I had a very nice property that was priced properly--it generated plenty of response from the masses.  I quickly had several excellent applications come in.  Homepointe time/date stamps our applications and always place the applications into chronological order.  After a couple duds we approved a family who loved the property.  They asked to come in asap to place their deposit.  I had met them previously and knew how interested they were.  I removed the property from our vacancy list after speaking to them at 3pm, expecting them to honor our appointment and bring in funds at 8am the following day.  In removing it from our vacancy list it also missed the deadline for ads and our weekend showing schedule.  Long story short, they stiffed me on the appointment as they felt our lease was too stringent.  Fortunately I was able to reach the next applicant in line and move them in shortly after.........but, if they had moved on I would have had a vacant home that missed a weekend of advertisement due to my ill advised move to remove it from our list.  Keep marketing!!!

If you or anyone you know has questions about property management in Sacramento, rentals in Natomas, rentals in Roseville and beyond....please do not hesitate to contact me.

Sincerely,

 

James Safonov

Property Manager

jsafonov@homepointe.com

 Homepointe Property Management

1220 Melody Lane #110

Roseville, CA 95678

 T: 916.781.7075  F: 916.781.7095

www.homepointe.com

Jennifer Chiongbian
Specializing in all types of Manhattan apts & townhouses - Manhattan, NY
Real Estate Broker - NYC

Here in NYC, the property gets marketed up until the leases are signed.  There are so many flaky people that you can never say, andmight as well cover all your bases.

Jul 07, 2011 08:44 AM
Gwen Banta
Sotheby's International Realty - Los Angeles, CA

This is true of homes SALES also. I continue to market until all contingencies have been removed...no matter how smoothly the escrow is progressing. That way I can always recover instantly, as down time can really hurt the prospects for a lease or sale.

Jul 07, 2011 08:53 AM
Michelle Francis
Tim Francis Realty LLC - Atlanta, GA
Realtor, Buckhead Atlanta Homes for Sale & Lease

James, 

We keep marketing UNTIL the lease is signed and certified funds are received!  Things happen, but I don't want to get caught off the market.  

All the best, Michelle

Jul 07, 2011 12:32 PM
Wallace S. Gibson, CPM
Gibson Management Group, Ltd. - Charlottesville, VA
LandlordWhisperer

Ditto Michelle * In the "olden days" it was hard to advise owners that I kept COSTLY classified newspaper ad in until I had signed lease and deposited their check cashed check.  I keep posting to Craigslist and taking phone calls until the lease is signed.  I get funds before preparing the lease in this market.

Jul 07, 2011 10:15 PM
Robert Machado
Homepointe - Sacramento, CA

Thank you for the responses--a deal is only a deal when they sign and deliver the funds.  I also rcall the "discussions" about expensive newspaper ads....I am very happy those days are over.

Jul 08, 2011 09:09 AM