Many new landlords are under the impression that they can do their Raleigh rental property showings in about half an hour. In reality, this is not the case even if you live within 100 yards of your rental home. Raleigh rental property showings will require considerable time for initial discussion on the phone, applicant paperwork, and driving to/from your property. So time management is essential in finding a quality and qualified renter for your property. To begin budgeting your time (and expenses for tax purposes), each showing will require:
- Time used up via phone for initial discussion: plan for 15 to 20 minutes
- Drive to property, show tenant inside and outside, and all features: plan for 25 to 90 minutes
- Applicant to fill out paperwork: varies greatly, anywhere from 15 minutes to 3 days or longer
- Car mileage: 57.5 cents per mile. If your rental property is ten miles away, then your total mileage deduction would be $11.50 per each time you drive there
- Car gasoline – About a gallon for each visit – about $2.50 per gallon
Please Note: Each property showing will require 1.5 hours, $11 of wear & tear on car, and $2.50 in gas on average
Another pitfall that many new landlords fall into is doing your Raleigh rental property showing once and accepting the first applicant with payment in hand. But 7 to 15 is the average number of showings before finding a quality and qualified applicant. With the above numbers per showing, doing 7 to 15 showings will consume about 10-20 hours of your time, $80 to $230 for wear and tear on your car, and cost $17 to $37 for gas.
The details above should give you a better idea as to the time and costs required for showing your property and help you plan. Would you like to know more about Raleigh property management? Contact us online or give us a call at (919) 827-1107 to learn more!
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.
