Private Leasing For Landlords

We break down private leasing and why it solves the most time-consuming part of owning rentals without taking control away from the property owner. We share how we market, show, and screen so you can save time and reduce the risk of placing the wrong tenant. 
• defining private leasing and who it fits best 
• marketing listings across major rental sites and social media 
• open-house style showings with a seven-day schedule 
• upfront tenant qualifications to avoid wasted applications 
• screening process including national and local background checks 
• real costs of a bad tenant and why thorough screening matters 
• flexible options for lease, move-in, utilities, and owner final say 
• service areas including Canton, Massillon, Akron, and Cleveland 
If you're looking for something like that, reach out to us. We can be found at the Rick and Shauna team on Facebook, leave a message, one of us will get back to you. Or you can find us at iconmgt.net, leave an email, make an inquiry, we will get that and we will reach back out to you as well. If you're on YouTube watching us, leave a comment below and we will reach back out to you as well. Yeah, and also, hey, if you could just like us on you know, yeah, like and subscribe. Spotify, like and subscribe also on YouTube, and that helps the channel that um you know that really helps us out, and we we greatly appreciate it. 

Transcript

SPEAKER_00 0:00

The biggest car is all the float by the float down.

Welcome And Private Leasing Defined

SPEAKER_01 0:23

Welcome to the Rick and Shauna Show. So welcome back to the Rick and Shauna Show, Property Management Unfiltered. And today we're going to have a discussion about private leasing. And just give a definition of what that means. That's somebody that's looking for leasing that is not under property management. And that could be for someone that is just starting out and maybe isn't in the mode where they need property management yet, or maybe can't afford it. Or it could be for somebody that does have a lot of properties, and that is the thing that's costing them the most time. So maybe they have that is managing the properties, that might be their full-time job.

SPEAKER_00 1:10

Right.

SPEAKER_01 1:10

So this is an alternative for both, whether you're just starting out or you could be an experienced investor.

SPEAKER_00 1:19

Right.

Marketing And High Volume Showings

SPEAKER_00 1:20

So what is covered under private leasing? We do the same. And if you're familiar with property management, your property manager definitely markets and takes the pictures and things like that. So we start to finish, take the pictures. We do market. We market on a lot of the bigger websites. So Cherzillo, Trulia, HotpadsApartments.com, Realtor.com. There's a couple other sprinkled in there that some people might go to, but we also use social media. So we do have the Rick and Shana team Facebook page that we put them on. We have a TikTok page that we will also put the listings on from time to time. Marketplace for Facebook. We have an Instagram. So we have we're on top of all the social media, right? So we do throw in one there. And then, of course, all the websites that I mentioned. We do have a team of three leasing agents that do open house style showings, which I think is very important to point out because they have a seven-day-a-week schedule. So their schedule is just open. This is what they do for us. They lease. So they have open house style showings. That means that up to 15 different people could be looking at this property at any given time. I think it's important to mention that our leasing agents also reach out to the prospects before their showings to ask them a couple qualified questions. We do have our standards or our qualifications that we use in order to, you know, approve tenants or not. And they will reach out ahead of time just to make sure that the most qualified tenants are uh coming or prospects are coming to the showings, right?

SPEAKER_01 3:03

Well that's the goal, right? The goal is to get us the most qualified applicants you can get there because if you don't have something in in place that states those qualifications, whether it be that you um post it online if somebody's looking or you're telling them in person, but it's important because you want to make sure that people that are showing up, we we don't want people to apply, honestly, that that aren't qualified. Right. Because it's just it's a waste of the money. Yeah, so you don't want to just people applying. So um there's multiple times

Pre Screening And Clear Qualifications

SPEAKER_01 3:33

that um these potential tenants um understand what these qualifications are. So right up front, even at the even then, if they decide they want to apply, they get it again. There's another message that gets sent by our agents that gives them that you know sequence of things that they have to do to qualify.

SPEAKER_00 3:51

Right. So all of this is time consuming, right? So this is the service we're offering. This is the pain point we're trying to um alleviate for property owners. You might be new, like you said, or you might be seasoned, and this is just what you do as far as managing the properties, collecting your rents and things like that, doing the maintenance, that's fine. This part that it seems to be the most time consuming part of all of it, right?

SPEAKER_01 4:19

That's where we get the most probably feedback on is when people have done this on their own. That seems to be where all the time is really spent. Right. You know, it's the phone calls, it's following up on all the emails. You know, we've done it for years and uh it can consume you. Yeah, especially the way that, and probably which is the way that um you know, somebody that's doing it on their own, they're basically putting on the website and they're fe they're they're fielding all the calls. Right. They're feeling all the fielding all the emails, all of it. So the nice thing about what we have is we have a uh service that allows people to schedule showings when they want to schedule them. Right. And um they just show up on our Asians calendar, which is great. Um so it's it's the eas we don't want to be a roadblock in terms of somebody get being able to see a property. Right. And that was when we were doing it, and we did it the old-fashioned way. Um people would always say, Oh, you know, I don't get a call back.

SPEAKER_00 5:17

Oh, our voicemails would fill up by 10 a.m.

SPEAKER_01 5:22

Yeah, you know, and can't ever get a hold of them.

SPEAKER_00 5:24

Yeah.

SPEAKER_01 5:25

Yeah, so it's a lot, it's a lot to manage. So we over the years, I think we've just perfected that and uh it works really well.

Background Checks National And Local

SPEAKER_00 5:33

Yeah. No, I I like a lot better, you know, through the years of experience of trials and tribulations, you know, we've discovered this new showing service, which not only takes our calls and makes our appointments, but it also screens our tenants or our prospective tenants. And it, you know, for us, we require all adults to do that, and it does run a background check. Um for that though, for for us anyways, we take it one step further because those national background checks, they don't always pull up everything. So we go one step further. We do have a third party that also not only screens that nationally, but will also run a local background check.

SPEAKER_01 6:10

And that's not a you know, you find that out through trial and error.

SPEAKER_00 6:14

Oh yeah.

SPEAKER_01 6:14

Because unfortunately a lot of people think, hey, I ran a national national background check, it's gonna catch everything. And unfortunately, it doesn't catch everything. And we found that when you do the local, um, it also may pick up some additional things because the national background is not. So those are just uh, you know, things that you learn over the years, and we try to do the best we can. You know, having said that, there's you can only do so much, right? Right. You pull up, you have the information that you have, you try to go everywhere you can to make sure you screen these tenants thoroughly, and at the end of the day, that's what that's what you have. Yeah. You know, so you have to go with that.

SPEAKER_00 6:51

Yeah. Most of the property owners that we get, whether it's even under management and now they've chosen to do management, or if it is just the private leasing, they don't do any of that. So we offer this professional service, you know, with this higher standard that yes, it's gonna cost a little bit of money, but think about the time that it's saving you. Think about the quality of tenants that you're going to get versus taking those phone calls and letting somebody tell you, hey, I got the money right now, um, I'm ready to rent this. And they come, they look at it, you think they look good, they sound good, you take their money, and then the next thing you know, they're in there and and they're not paying. You find out, you know, maybe you do a little research after the fact. So we do all of that up front. We save you all the time. Um, we know what to look for.

Why Bad Tenants Get Expensive

SPEAKER_01 7:37

That's a great point, though, that you made with the you know, what can happen because there is a lot of cost associated with not being as thorough as you can. Yeah. Anything can happen with a tenant. You know, we meet tenants, you know, spend 10 minutes with them, you do all you can to make sure that you've done your checks, everything's good. That's not a guarantee it's gonna work out, but it's gonna give you the best opportunity. And when you when a bad tenant goes in because maybe you didn't do all those things, it's very costly.

SPEAKER_00 8:09

Yeah.

SPEAKER_01 8:09

It's very costly because you could be asking someone to leave, you could be giving them a 30-day notice, you've got attorney fees, you've got the cost of turning the unit again. That's right, it's off the market.

SPEAKER_00 8:19

You've got utilities now you're taking over.

SPEAKER_01 8:22

The list goes on.

SPEAKER_00 8:23

Right. So, yes, our services cost money, but the alternative is probably much, much more.

SPEAKER_01 8:29

Yes.

SPEAKER_00 8:30

Um, if you don't do your checks and balances, and that's what we're here for. And that's why we started even, you know, providing the service in i in in the beginning is because leasing is so time consuming. It can be um, it can, I guess for lack of a better word, like people can pull the wool over your eyes, right? They can they sound good, they look good, and then they have money. And they have money, right? And I know that this is enticing. Everyone wants a profitable business. So, you know, and you don't want the properties to sit on the market.

SPEAKER_01 9:00

Yeah, that's right.

SPEAKER_00 9:01

So all of that can be enticing. We kind of take the the blinders off. We don't have any emotional attachment to it. We're sticking to the professional standards, and a lot of times we see property owners, they need that. They get too involved, they know their tenants very well, you know they're very per first name basis with them sometimes.

Flexible Move In And Owner Control

SPEAKER_00 9:22

So I, you know, for for the investors that are in the Canton area, Maslin, Akron, Cleveland, those are the ones, those are the areas that we service. If you're looking for something like that, reach out to us. Um, we can be found at the Rick and Shauna team on Facebook, uh, leave a message, one of us will get back to you. Uh, or you can find us at iconmgt.net, leave an email, make an inquiry, we will get that and we will reach back out to you. If you're on YouTube watching us, leave a comment below and we will reach back out to you as well.

SPEAKER_01 9:58

Yeah, and also, hey, if you could just like us on you know, yeah, like and subscribe. Spotify, like and subscribe also on YouTube, and that helps the channel that um you know that really helps us out, and we we greatly appreciate it.

SPEAKER_00 10:10

So yeah, if there's any other questions also that you're coming up with on any of our episodes that we do, and you want to know more information about a certain um episode, or you have a question that we didn't go over, please also leave those comments or you know, go to the Rick and Shauna team Facebook page, make an inquiry on the website. We will get back to you. We like talking to property owners about the services that we offer, about the knowledge that we have, you know, the experience that we've grown to have over the years. Um we're we're willing to share that.

SPEAKER_01 10:43

Yeah, and we also, like Shauna said, with the comments, if there's something that you would like to see in an episode, um, that's great for us because there's very few things that we haven't experienced. So if there's something out there that you would like more information on or would like to hear about, you know, we'd love to love to hear it.

SPEAKER_00 11:00

Yeah, absolutely. So, you know, as far

How To Reach Us And Subscribe

SPEAKER_00 11:02

as the private leasing goes, again, you know, just to cover a few points, it allows an owner to kind of keep control and yet let someone else do the time-consuming thing, which is, you know, schedule the showing, show the properties, find a good tenant. We even go far, you know, so far in that um particular service as to make sure the utilities are switched over, deposits paid, um, first month is paid, lease is signed. I know a lot of private, any property owner, I should say, may not have their own lease. So we provide that, right?

SPEAKER_01 11:35

So if they have their own lease, great. If they don't, we can provide it. Yeah, we can actually do the move-in.

SPEAKER_00 11:40

Yeah.

SPEAKER_01 11:41

But we have some owners that decide that, hey, I've got my own lease, I'd like to do my own move in. You guys just get somebody that's a good tenant, you think feels qualified, and they take it from there. So we've got multiple, you know, ways of getting this done for you.

SPEAKER_00 11:54

Yeah, so they have many options. Um, we're we're pretty flexible with that. Um, I think, you know, the the property owner with private leasing, they get the final say.

SPEAKER_01 12:03

Yep.

SPEAKER_00 12:03

You know, and I know a lot of times they like to do their own moving because they like to meet the tenants. Um, they do like to meet who's, you know, moving into their home, especially since they weren't involved in the process, and that's fine too. Um, you know, but basically what we're doing is trying to free up the time so that you can go and do the things that matter, taking care of other properties or finding more properties.

SPEAKER_01 12:23

Yeah, grow your business.

SPEAKER_00 12:24

You know, yeah, and we're here to help with you know those those other things. Um, so again, if you want more information on anything else, you have more questions, please let us know. You have anything else?

SPEAKER_01 12:35

The only other thing that I will say is that, you know, so obvious obviously the private leasing is something that we offer, but you know, this is also a segue into people, you know, that may want to get into property management. It gives them the opportunity to get to know me and Shauna and understand kind of what the business is out, uh what it's about, and how we do business. So, you know, it's also a way to understand who we are. So some people maybe just, hey, like I'm just getting this idea about getting into property management, it's a nice place to start as well. Right. And you can kind of get to know us and how we do business.

SPEAKER_00 13:10

Right. I think most people will find that we do go above and beyond um, you know, the the normal property management service that that you expect, right? We do a lot of footwork, um, not just for our out-of-state investors. You can be local and still just not want to have much to do with it, or I think you mentioned previously, have a day job that you know you want to concentrate on, or or family, or you know, you just sometimes even more with local investors.

SPEAKER_01 13:37

Yes, absolutely.

SPEAKER_00 13:39

Yeah.

SPEAKER_01 13:39

And they're paying attention to their properties very closely. So sometimes that uh there's other things that they're requiring of us.

SPEAKER_00 13:46

Yes, absolutely. So we're here to help. Yep.

Final Wrap And Listener Requests

SPEAKER_00 13:48

Well, thank you for joining us, everyone. Um, again, like and subscribe if you want to see more. If you want to know when our episodes come up, that would be great. That helps us out. Um, if you have any questions, any comments, anything that you want to see next, please leave those below and we'll be sure to get to it. Thank you.