[5-DayForum] 5 Day Rental

[Terry Wigfield]

Good thoughts

 

Terry Wigfield

HouseMaster

800-789-6007 voice

301-791-7216 fax

terry.wigfield at housemaster.com

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From:
5-dayforum-bounces+terry.wigfield=housemaster.com at mailman.howtosellyourhomei
n5days.com
[mailto:5-dayforum-bounces+terry.wigfield=housemaster.com at mailman.howtoselly
ourhomein5days.com] On Behalf Of Bill Effros
Sent: Friday, August 10, 2007 9:00 AM
To: How To Sell Your Home in 5-Days
Subject: Re: [5-DayForum] 5 Day Rental

 

Terry,

I do 5-Day Rentals all the time.  You don't have to take notes.  If you run
a 5-Day Rental properly (starting at 50% of what you are sure you can get)
you should get twice as many potential renters as you can find buyers.  (We
once got 605 responses to a 7 line ad in the NYT -- they said it was the
modern record -- responses went to a box number controlled by the NYT).

They will all stop at the same point.  You will have multiple qualified
buyers.  Make them fill out a daunting application.  Take 2 months security.
(Not the first month and last month rent.)  This sorts them all out, you'll
get your place back clean as a whistle, renters will pay on time, you can
rent out the place, again, the following weekend.  Checking the applications
takes longer than conducting the 5-Day Rental.

Bill Effros



Terry Wigfield wrote: 

I own rental property and ordered your book with the intention of selling
one or two. I have decided that since I do not need to sell any, not to sell
at this time. However I want to do a 5 Day Sale! I recently had an apartment
come up empty and will rent this out using the 5 day method. From experience
I know that you can get somebody to agree to pay virtually any rent. This is
especially true if the potential renters are desperate. I see a red flag
when ever I get someone pressuring me. The problem is collecting each month.
Unlike selling a home, I still need to qualify persons. That will mean
taking notes during the open house. I imagine this would be delegated to the
closure. I would think I will have to screen out those unacceptable.  I
welcome thoughts from anybody.

 

Terry Wigfield

 

terry.wigfield at housemaster.com

 

 





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