Lock Box Showings
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Lock Box Showings (by Roy [AL]) Oct 3, 2018 6:06 PM
       Lock Box Showings (by Vee [OH]) Oct 3, 2018 6:19 PM
       Lock Box Showings (by Ken [NY]) Oct 3, 2018 7:18 PM
       Lock Box Showings (by Robert J [CA]) Oct 3, 2018 7:22 PM
       Lock Box Showings (by BRAD 20,000 [IN]) Oct 3, 2018 11:28 PM
       Lock Box Showings (by Roy [AL]) Oct 4, 2018 1:32 AM
       Lock Box Showings (by NE [PA]) Oct 4, 2018 3:57 AM
       Lock Box Showings (by Roy [AL]) Oct 4, 2018 4:16 AM
       Lock Box Showings (by Doogie [KS]) Oct 4, 2018 4:51 AM
       Lock Box Showings (by S i d [MO]) Oct 4, 2018 5:10 AM
       Lock Box Showings (by NE [PA]) Oct 4, 2018 5:19 AM
       Lock Box Showings (by Ken [NY]) Oct 4, 2018 5:35 AM
       Lock Box Showings (by Sisco [MO]) Oct 4, 2018 8:56 AM
       Lock Box Showings (by Mike45 [NV]) Oct 4, 2018 10:36 AM
       Lock Box Showings (by Jim in O C [CA]) Oct 4, 2018 11:15 AM
       Lock Box Showings (by GKARL [PA]) Oct 4, 2018 1:28 PM
       Lock Box Showings (by DJ [VA]) Oct 4, 2018 3:24 PM
       Lock Box Showings (by Roy [AL]) Oct 4, 2018 3:54 PM
       Lock Box Showings (by Robin [WI]) Oct 4, 2018 5:26 PM
       Lock Box Showings (by Roy [AL]) Oct 4, 2018 6:40 PM
       Lock Box Showings (by Ken [NY]) Oct 4, 2018 7:47 PM
       Lock Box Showings (by GKARL [PA]) Oct 4, 2018 9:19 PM
       Lock Box Showings (by Roy [AL]) Oct 5, 2018 3:44 AM
       Lock Box Showings (by NE [PA]) Oct 5, 2018 3:48 AM
       Lock Box Showings (by GKARL [PA]) Oct 5, 2018 4:32 AM
       Lock Box Showings (by Roy [AL]) Oct 5, 2018 4:37 AM
       Lock Box Showings (by NE [PA]) Oct 5, 2018 4:46 AM
       Lock Box Showings (by NE [PA]) Oct 5, 2018 4:55 AM
       Lock Box Showings (by S i d [MO]) Oct 5, 2018 5:18 AM
       Lock Box Showings (by Roy [AL]) Oct 5, 2018 5:33 AM
       Lock Box Showings (by S i d [MO]) Oct 5, 2018 6:03 AM
       Lock Box Showings (by Ken [NY]) Oct 5, 2018 6:04 AM
       Lock Box Showings (by NE [PA]) Oct 5, 2018 6:15 AM
       Lock Box Showings (by S i d [MO]) Oct 5, 2018 6:53 AM
       Lock Box Showings (by NE [PA]) Oct 5, 2018 7:06 AM
       Lock Box Showings (by S i d [MO]) Oct 5, 2018 8:21 AM
       Lock Box Showings (by NE [PA]) Oct 5, 2018 8:30 AM
       Lock Box Showings (by Mickie [OH]) Oct 6, 2018 4:59 AM
       Lock Box Showings (by REMaven [PA]) Oct 17, 2018 4:45 PM

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Lock Box Showings (by Roy [AL]) Posted on: Oct 3, 2018 6:06 PM
Message:

If you do not meet your rental prospects to show them your house and you use a Lock Box on the door,....what are you min. requirements for a total stranger get access to your house?

And why even use a Lock Box? What not just leave the back door unlocked? --68.63.xxx.xxx




Lock Box Showings (by Vee [OH]) Posted on: Oct 3, 2018 6:19 PM
Message:

Phone screening with full names and drivers license numbers, if they balk just screened themselves to save you a hassle. --76.188.xxx.xx




Lock Box Showings (by Ken [NY]) Posted on: Oct 3, 2018 7:18 PM
Message:

Phone screening to make sure they meet my minimum requirements,if they sound weird I meet them,if they sound reasonably normal I give them the code.I don't just leave a door unlocked so I maintain control over who gets in --72.231.xxx.xxx




Lock Box Showings (by Robert J [CA]) Posted on: Oct 3, 2018 7:22 PM
Message:

Never use a lock box anymore, going on 25 years now. Once a person get's inside, had a key and a phony stationary that says they paid the rent -- the police will do nothing because it's now a civil matter -- your word against theirs.

So you were too busy to show your unit. Didn't want to pay a realtor. So now you have to go through an eviction and repair all of the damages.....Realtor=1 months rent vs damage=$25,000. You do the math. --47.156.xx.xx




Lock Box Showings (by BRAD 20,000 [IN]) Posted on: Oct 3, 2018 11:28 PM
Message:

Roy,

For YEARS (20?) we just left the front door unlocked. Worked great for years without a hitch. Town of 45,000 people, Midwest values.

Then we went to code 0000 and promoted it on our website and fliers. That worked great for years. Probably rented 1000 leases over time with these 2 systems. Casualties: 1 window AC my guys SHOULD have removed, 1 $150 used stove the day before Thanksgiving, and a few unflushed toilets. (C'mon! Ya can't push the flush handle??)

Now, with increased opioid addicts looking for places to shoot up and more homeless people we have to lock them. Rats. It used to be sooo easy!

We don't bother with phone or email prescreening steps. App is free online or at the house, fill it out, once the app is mostly OK we text them "Congrats you are pre-approved for up to $XXX in rent. Which home are you interested in touring? See photos and video walkthru on www.BRAD20,000....." If they respond we text them the code for that home, ask them to text us when they enter and again when they lock up, along with their remarks or decision.

If we don't see a lock up text within 30 minutes after the ENTERED text we text them again. They usually say they forgot to reply.

Please notice

-the simplicity and small number of few steps.

-We did NOT spend ANY time on the 99 who do not qualify.

-We're only texting 2-3 per home

-We have not yet met them because it does not matter. They lie in person. Liars WANT to meet the LL so they can convince the LL with their lies. We have their paper qualification and will not sign a lease until they pass the 2 Minute In Home Visit. Can pay, can care for the home. Good.

-Most apps are disqualified in seconds with a simple check of online court records and/or their paystubs (or lack of!)

Roy, Try it on one house. You'll love it!

BRAD

--68.50.xxx.xxx




Lock Box Showings (by Roy [AL]) Posted on: Oct 4, 2018 1:32 AM
Message:

Thanks Brad20k,

I am trying to get the nerve up to try this. To me, it like leaving your new car parked with the keys in the ignition.

Plus, I like to see who is applying. I sometimes reject people on just the way they look. Too trashy looking, I do not want them. --68.63.xxx.xxx




Lock Box Showings (by NE [PA]) Posted on: Oct 4, 2018 3:57 AM
Message:

I'm not a fan of this, however I've had to do some lately out of necessity.

Prescreen. If I don't meet the people there, I will do in-home inspections. --50.32.xxx.xxx




Lock Box Showings (by Roy [AL]) Posted on: Oct 4, 2018 4:16 AM
Message:

NE,

That is what I asking here. How do you pre-screen a total stranger that wants to see your house (NOW) instead of when it is convenient for you to open the door for them?

A total stranger (rental prospect) calls you and is standing at your rental house and you are 30 miles away. How do you screen this person before giving out the lock box code? --68.63.xxx.xxx




Lock Box Showings (by Doogie [KS]) Posted on: Oct 4, 2018 4:51 AM
Message:

Roy - I was very skeptical of this process at first as well. I met Sid and Brad20,000 (and you for that matter) at St. Louis this year and really listened to their process on how to do lockbox showings. I had a vacant house already, so when I got back from convention the fist thing I did was buy a lockbox. I implemented the process for prescreening and gave it a go on just one house. It was UNBELIEVABLE how much time it cut out of my schedule. My next step was to buy 4 more lockboxes!

My first step now when someone moves out is to get the lockbox on the door asap. I use this for contractors, handyman, cleaning people, etc. I no longer meet anyone at the house. After it's ready to go, it goes up on the website and showing requests start coming in. Like BRAD said, most requests are screened out in seconds. Not enough income or pits is the 2 most common reasons for me (they used to get showings in the past and waste my time!). The ones that pass the prescreen, I call and not text to set up the appt. This allows for further screening (no sob stories about the current LL, etc). If they have to move ASAP, huge red flag and they 99% sure to be disqualified. To answer your question to NE, nobody gets to see the place NOW. They must all go to the website and fill out the request for showing so I can pre-screen them.

Overall, this has really streamlined my process. This is the reason I went to St. Louis as I couldn't continue how I was doing it. It was taking way too much time. I'm tweaking the process still, but it is working out very nicely. I do understand why some folks on here don't like it. I don't blame them. They have their reasons and they are valid. For me though, I don't have the time. The last house I rented, I probably spent a total of 2 hours on it. 1 hour of it was because the guy that rented it live in a neighboring town and I had to drive further for the in home inspection. Worth it!

I wish you good luck in whatever process you decide to go with! --98.175.xxx.xxx




Lock Box Showings (by S i d [MO]) Posted on: Oct 4, 2018 5:10 AM
Message:

Roy, they fill out my website form that includes:

1) First name, last name, middle initial. Takes me 30 second to run that thru Missouri Case Net for a free background check.

2) Documented household income. Must be 3x the rent, minimum.

3) Reason for moving. Nothing bad about past land lord.

4) Current living arrangements. Living in a motel? Nope.

5) How soon will you be ready to move?

If the answers aren't to my liking, we don't do anything else.

Brad's system is really good, but realize he has a slightly different business model. 99% of his homes are Rent To Own, so those folks are more motivated to give out an entire application because they're stepping up their game to become home "owners".

Renters aren't so willing to take the time to fill out a 4 page application and pay our credit check fee just to get a tour.

My worst "casualties" to date are one unflushed toilet and one light left on. 4 years. That works out to at least 500 trips to and from to show houses saved @ 10 miles round trip plus time, no-shows, looky-loos....do the math on how much time and money I've saved!

When I give out the code, I always remind them that our handyman will be in and out during the week and to say "hi" to him if he's there. He's the one who drives the big dually pick up truck. Now do you think crack-head Bob will come cause trouble in my rental when "Larry" the redneck maintenance man could show up at any time?

I hope that clearly shows that what I do is not the same as leaving the door wide open for anyone wander in. --173.20.xxx.xxx




Lock Box Showings (by NE [PA]) Posted on: Oct 4, 2018 5:19 AM
Message:

Roy, they wouldn't be standing at the door calling me. I don't put out rent signs in the yard.

I ask them the same pre-screen questions as before. If they don't qualify, they don't get the code.

I also use screening software that requires them to be pre/screened before they are even able to schedule an showing. --174.201.xx.xxx




Lock Box Showings (by Ken [NY]) Posted on: Oct 4, 2018 5:35 AM
Message:

Roy,the worst I ever had was someone left the front door open and opened all the windows,it was late fall so it could have froze up but fortunately my maintenance helper walked by and called me so he closed it all up and took the key with him and that one was shown in person till it was rented,i have shown hundreds of units this way and most of my houses are an hour away so it saves me incredible amounts of time.I buy and sell quite a few houses that are in rough shape and I show them with a lock box also --72.231.xxx.xxx




Lock Box Showings (by Sisco [MO]) Posted on: Oct 4, 2018 8:56 AM
Message:

Roy, the lockbox is the easiest, least expensive way to allow entry for prospective tenants. You should try it.

But, if you work a neighborhood that is too dangerous for lockbox, then hire a doorman.....the bigger picture is that showing takes too much of your time.

Get their application, screen...then spend some time with them during the in home inspection.

As for the pre screen: my leads come from FB marketplace and Zillow. Over 100 inquiries are the norm in my market (many are looking for a house 100 miles away from my locale).

I send every one of them the lockbox code. 10 or less show up to look.

This is completely different than a yard sign type inquiry. I would try to make it easy to distinguish between an online inquiry and a yard sign inquiry ex. Ask for Alonzo for showing on yard signs. --72.172.xxx.xx




Lock Box Showings (by Mike45 [NV]) Posted on: Oct 4, 2018 10:36 AM
Message:

Roy, haven't you gone though a dozen of these threads already?

In large part, it comes down to how your local authorities will react if a person takes advantage of access by squatting. As Robert J points out, a fake lease, a fake receipt plus a key will (in his jurisdiction and mine) force you to evict a squatter, costing him (and me) a lot of money.

So I have never used a lock box to show, and I will not. I got rid of my last Los Angeles rental (I used a realtor to show it), and now my furthest unit is about 25 minutes away from my office.

At a guess (I don't keep stats), my last vacancy, we showed to three applicants before it rented -- and two of those were shown by our handiman who was already at the property doing last-minute check-list items. (Somehow, I always find some items to put on a punch-list after the crew announces a property is "ready.")

On the other hand, Brad knows his local authorities very well, and they will help him out if a squatter tries to take possession. For him, the risk of a squatter is much less, so he can do these lock-box showings.

--71.38.xx.xxx




Lock Box Showings (by Jim in O C [CA]) Posted on: Oct 4, 2018 11:15 AM
Message:

I would identify my rentals as B grade. That said I would never do a lock box situation because I probably would have squatter move in and/or remove everything that is not triple bolted down. --75.22.xx.xx




Lock Box Showings (by GKARL [PA]) Posted on: Oct 4, 2018 1:28 PM
Message:

I think the lockbox thing is effective based on how one is set up. I only have multis so it's not a hassle for me to show. The main thing that I've changed is pre screening real good before I agree to show. By the time Ive pre-screened, the number of actual showings is minimal. --172.58.xxx.xxx




Lock Box Showings (by DJ [VA]) Posted on: Oct 4, 2018 3:24 PM
Message:

Instead of an old style lockbox that contains a key, I highly recommend an electronic deadbolt like the ones I have. You can enter a code (several, actually) that can only be used once. If they leave thinking they can get back in, nope - it won't work again. No key to get dropped/lost in the grass, or potentially copied/used again later. --68.10.xxx.x




Lock Box Showings (by Roy [AL]) Posted on: Oct 4, 2018 3:54 PM
Message:

It seems many of the lock box only crowd here has a website where the applicants go first and fill-out online applications. I do not have that,..yet.

I post my phone number on my Zillow Ads because I want people to call me so that I can pre-screen on the phone. This works for me, so far,...but I am going make an attempt to use a lock box and see how I can make it work to my advantage. I may even just leave the back door unlocked.

I do have one question for the lock-box LL's here. When there is no water on at your vacancy and someone's takes a dump in your toilet, are you the one who has to deal with this stinking mess?

--68.63.xxx.xxx




Lock Box Showings (by Robin [WI]) Posted on: Oct 4, 2018 5:26 PM
Message:

Roy,

All you need to do is take 1.6L of water and dump it in the tank to flush it. Not a big deal. --204.210.xxx.xxx




Lock Box Showings (by Roy [AL]) Posted on: Oct 4, 2018 6:40 PM
Message:

Robin,

When it has been sitting there for a week and attracting flies, I can assure you it will take more than 1.6L to flush it. If you had shown the house in person, this would not have happened in the first place. --68.63.xxx.xxx




Lock Box Showings (by Ken [NY]) Posted on: Oct 4, 2018 7:47 PM
Message:

Roy,I can have someone clean up the toilet situation every now and then much cheaper than I can be at or have someone at the house every time it needs to be showed. --72.231.xxx.xxx




Lock Box Showings (by GKARL [PA]) Posted on: Oct 4, 2018 9:19 PM
Message:

"I post my phone number on my Zillow Ads because I want people to call me so that I can pre-screen on the phone."

One thing I picked up from Sid and others here is to stop talking with the tenant until absolutely necessary. I used text to pre-screen the last 3 folks I placed in the rooming house and it worked great. The first thing is it forces me to be consistent. I find that when I'm talking with people, I may forget to ask a question. By texting them a canned questionnaire, I make sure I ask everyone the same questions and before I show the place, I insist that they text me a copy of their latest paystub as well. I also run their criminal background using PA Courts. They nearly approved before I agree to show. This was very effective for me and I was far less harried answering calls.

Handling the pre-screening better has reduced the number of showings. I couldn't do a lockbox thing in the rooming house anyway, but in my apartments, I don't see where it would be effective as the pre-screen will reduce showings down to a manageable number. As long as its manageable with good prospects, I don't mind physically showing. --209.122.xx.xxx




Lock Box Showings (by Roy [AL]) Posted on: Oct 5, 2018 3:44 AM
Message:

Gkarl said, "One thing I picked up from Sid and others here is to stop talking with the tenant until absolutely necessary".

I completely disagree with this. Call me ole fashioned or whatever, but if you feel uncomfortable talking with strangers on the phone and want to avoid this at all costs, then maybe you need to hire a PM to handle your customers. Bottom line is this: This is a PEOPLE business we are in here and you have learn how to manage people or they will manage you. My people management starts with that first phone call from my Zillow Ads in which I introduce myself and tell them I am the Property Manager. I can tell a lot about someone from just 'listening to them talk or ramble' on the phone which is not something you can get from an online application.

--68.63.xxx.xxx




Lock Box Showings (by NE [PA]) Posted on: Oct 5, 2018 3:48 AM
Message:

Like you said Roy, old fashioned. I used to want to listen to the ramblings, now I don't even want to hear their voice.

Even buy anything from amazon? eBay? Any other online shopping venue? Did you talk to anyone? Did anyone there talk to you?

I don't 100% agree that we are in the "people" business. I'm in the real estate business and part of that is screening people. I'm NOT in customer service or sales. --50.32.xxx.xx




Lock Box Showings (by GKARL [PA]) Posted on: Oct 5, 2018 4:32 AM
Message:

Roy, how's texting a tenant different than discussing real estate matters here? I can tell a lot about a person by how they write and answer questions. I find my people management skills are actually enhanced by handling them in this way. It's just another management tool.

Most of the tenants are accustomed to texts and buying things without talking to people. Generally, most of them prefer not to talk to me as much as I prefer not to talk to them. Conversation often devolves into the unnecessary which is a time waster for me. --209.122.xx.xxx




Lock Box Showings (by Roy [AL]) Posted on: Oct 5, 2018 4:37 AM
Message:

NE,

If you were going to hand over the keys to a $100,000 house to a total stranger, wouldn't you want to have some ole fashioned conversation before you did that? Amazon, Ebay etc. that is nickle and dime crap compared to what I am selling or renting. No, I don't need to talk to anyone when I am buying a power saw or whatever at online retailers. I do understand your point though.

I will add this though,...if I had Class A or B applicants, I would probably use the Lock-Box method and not think twice about it. However, Class C (and some D's mixed in there) are completely different breed of applicant than A's & B's. One reason I talk to people on the phone and meet them in person is to separate the good C's from the D & F applicants. Sometimes C's, D's and F's are all members of the same family! How do you do this with an online application?

--68.63.xxx.xxx




Lock Box Showings (by NE [PA]) Posted on: Oct 5, 2018 4:46 AM
Message:

I use jotform for an online application. I will eventually talk to them of course. Usually they are weeded out before that.

Now keep in mind, I am in the infancy stages of moving into the lock box showings. I am doing it almost out of necessity, because I had quite a few vacancies the last two months and scheduling a showing in person was overwhelming. So I had to do lockboxes and it has worked out pretty good.

You will obviously interact with them before you sign a lease and handover the keys, but if you can refine how do you pre-screen and weed out the tire kickers ahead of time, then I see no reason to talk to the toothless time wasters.

I've been doing digital prescreening for a while before I have moved in the lockboxes, so there's been very little talking going on for quite some time now. I will just trade the In person showings and getting to view the applicant's personality and appearance with lockbox showings and in home inspections. By the time the in-home inspection happens, I will have an approved application so there's very few interactions that will be happening.

Trust me, I never thought I would be moving in the direction of lockbox showings. But I'm warming up to it and I've received many many other very good ideas from this forum, so I'm going to go this route until I exhaust of the possibilities of it being a benefit to my business before I totally scrap the idea.

If it works, then I'm 10 steps ahead of the other landlords in my area. --50.32.xxx.xx




Lock Box Showings (by NE [PA]) Posted on: Oct 5, 2018 4:55 AM
Message:

Another thing Roy, is that it took quite a while for this to make sense to me. I had to think about it and re-organize it in my mind so it could fit into what I do. Now there are still times where I won't do this, because they are houses in rougher areas. But on most of units, definitely. But I'm still pre-screening electronically.

Two main reasons I did it, to save time and I'm sick of looking at and talking to and dealing with the circus performers that make it through the prescreening sometimes and then want to stand there and talk to me about every little problem in their life and how their current landlord doesn't do this and doesn't do that and blah blah blah. Because at the end of the day, I do not care and I do not want to hear it.

And this falls back on to not being in the "people" business. These places need to sell themselves, if the person doesn't want it, they can go somewhere else and live. I don't care. I don't need freaks occupying space in my minds and wasting my time, trying to sell themselves to me so I'll rent to them. --50.32.xxx.xx




Lock Box Showings (by S i d [MO]) Posted on: Oct 5, 2018 5:18 AM
Message:

Roy,

Solve your unflushed toilet worry with a $1.25 roll of Saran wrap.

If you don't want to Saran wrap your toilet, so what if you end up having to plunge, flush, then scrub a toilet? A few strokes of the old plunger, a cap full of bleach swished with a toilet brush, and in less than 30 seconds you can flush your problem away!

There's some folks on this board who refuse to see the benefits and low risks of lock box showing in EVERY market. I have explained multiple times how I deal with potential risk of squatters and vandals, so I'm not going to do it again. Folks either find the way to make it work or they don't. Doesn't affect me which way they choose to go. I wish they'd TRY it before dismissing it.

I enjoy being 100% full with a less than 3% vacancy rate for the year and spending hardly any time showing. The method works. It can work for you and anyone else too.

It's not a debatable issue to me. The success rate is TOO HIGH and the worries are TOO FEW to let this tool go unused.

I have yet to actually see any one say, "I tried the lock box and I got a squatter." It's always "what IF I got a squatter?" I don't function on "what if."

Sisco hit the nail on the head: if you want to reach the next level of success you have to think BIG PICTURE. For those who insist that lock box can't work, at least hire someone (doorman) to show units. Don't waste your valuable time doing a $10/hour, unskilled job. It takes minimal skill/effort to drive a car to a house and unlock a door.

Remember your post "Your Hourly Rate?" from last week? How do you think I met and exceeded my $200/hour goal so quickly? I've been eliminating/outsourcing low value tasks like in-person showing and replacing it with high value tasks like the 2-minute in home inspection. But soon that task will be outsourced as well. Now that I've done a few of those, my checklist is taking shape. Soon I will hand it off to someone for $25. Why? I'm looking to add at least 5 more units before 2018 is done. I don't have time to risk letting the best deals thru my fingers because I'm fiddling with showings, etc.

Roy, you know real estate. Ever hear the phrase "highest and best use?" It's a concept in real estate that land reaches its full potential and value when put to use in the most beneficial way. You, Sir, have a "highest and best use" of your time, and it's not unlocking doors. You have proved to us you know how to buy houses for $5000....creating $10,000+ of instant value. How many doors would you have to unlock to hit that same level of value? --173.20.xxx.xxx




Lock Box Showings (by Roy [AL]) Posted on: Oct 5, 2018 5:33 AM
Message:

Sid,

It is always a pleasure talking with you. And based on your reply alone here, I am going to test out the lock-box method today. I had a tenant skip-out on me a week ago and I just learned about it yesterday when I was about to post a P/Q notice. Again, I will be testing out the lock box method and see if I can make it work for me. Yes, I will buy some Saran wrap and hope they don't use the bath tub instead. --68.63.xxx.xxx




Lock Box Showings (by S i d [MO]) Posted on: Oct 5, 2018 6:03 AM
Message:

Roy, awesome! You've taken the first step into a world I think you will love!

If you and I think at all alike (and I suspect we were twin brothers separated at birth), what you'll do is the first week of lock box, you'll drive past the house every day (maybe twice) and check on your baby to make sure she's okay. That's fine! That's normal! I did that too.

After a week of no incidents, you'll start to relax and go every other day.

So on and so forth, until you get comfy. Then maybe you'll go by once or twice a week, which is what I do today to make sure there aren't any lights left on or windows propped open.

A caveat: are there risks? Yes, there are. Every strategy has risks. It's up to you and me to have a plan to mitigate and reduce risks.

With in-person showing you risk missing out on qualified tenants as you juggle your schedule to fit theirs. You also risk missing awesome real estate deals because you can only be in one place at a time. Either you can be scouting deals and making offers or you can be unlocking doors for people who no-show. There is a risk of looky-loos who have no business being in your rental wasting your valuable time and gasoline.

Leaving the back door open you risk transients setting up camp.

The bottom line: EVERY strategy has risks. Our job as investors is to reduce that risk to an acceptable level.

Every big company in corporate America has a department called "risk management." There is no such thing as risk elimination. I think that's what trips up so many folks with lock box showings. Their fear of the risks is not an accurate picture of reality and they don't expend the effort to find ways to minimize the probability and the extent of risk. They want zero risk. Unfortunately, they don't know how to value their time and ignore the risk of wasting it doing low-value tasks.

All this is meant to encourage you, and to prepare you in case you do end up with someone who takes a dump in the tub. Again, this IS a risk if you Saran wrap your toilet! It COULD happen. But....your job now is to think "how could I minimize the risk of someone doing #2 in my bathtub".

I've been doing lock box for over 4 years. NEVER had someone do this in my tubs.

Keep us posted on how it goes. --173.20.xxx.xxx




Lock Box Showings (by Ken [NY]) Posted on: Oct 5, 2018 6:04 AM
Message:

Sid,well said.I wouldn't saran wrap the toilet,that jeems seems like it will create bigger problems if a kid uses it anyway --72.231.xxx.xxx




Lock Box Showings (by NE [PA]) Posted on: Oct 5, 2018 6:15 AM
Message:

Roy, I'm still in the nervous-drive-by every few days stage. Earlier it was drive by after every lock box showing. It is scary at first. But I still drive by the occupied units with tenants that have passed all my screening and signed lease. --50.32.xxx.xx




Lock Box Showings (by S i d [MO]) Posted on: Oct 5, 2018 6:53 AM
Message:

NE, baby steps, just like Dave Ramsey says!

You'll get comfier eventually. What strategies have you thought of to help make you more comfy?

These two lines help me sleep better:

1) "I've let our handyman know you may stop by today..."

2) "The code for today is..." --173.20.xxx.xxx




Lock Box Showings (by NE [PA]) Posted on: Oct 5, 2018 7:06 AM
Message:

With the system I'm using, each person gets a personal code that's only good for 2 hours with a pre programmed lock box. The software gives them the code when they are standing in front of the lock box. I also use "you may see the handyman there, his name is Dan, say hi if you do" tactic. --50.32.xxx.xx




Lock Box Showings (by S i d [MO]) Posted on: Oct 5, 2018 8:21 AM
Message:

NE, What's the model, brand of the lock box you use? --173.20.xxx.xxx




Lock Box Showings (by NE [PA]) Posted on: Oct 5, 2018 8:30 AM
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Sid, it's provided with tenant Turner. --174.201.x.xx




Lock Box Showings (by Mickie [OH]) Posted on: Oct 6, 2018 4:59 AM
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Because I still have a day job, I like ideas that save me time. Automation helps and I've really enjoyed the information WMH,Sid and others have shared here. This post has given me a lot of pro's and con's. Our little town has a meth problem so I've been hesitant to try lockbox showings. I may start with one and see what happens. --174.233.xxx.xxx




Lock Box Showings (by REMaven [PA]) Posted on: Oct 17, 2018 4:45 PM
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I created a google form for tenants to fill out. If they don't fill out the form, I don't contact them for a showing. I ask email,name, income, pets, credit/criminal issues they want to tell me about. If they pass muster, I contact them via email and tell them that they are welcome to tour the home at their convenience. Please text me when they are at the property and I will give them "that days" code. Ask them to text when they are done so that "my handyman can go change the code." or "he may be there working, and if so, no need to text me when you leave."

I do actually have my dad, who is local change the code pretty frequently. At least 3 times a week. --96.245.xx.xxx



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