He's Lockbox Sketchy

After having SO MANY who have looked at my current class C home via lockbox showings...without renting it... I can't help but wonder if some prospects are turned off by not having someone there while they look to answer questions.

Hmmm.

--70.92.xx.xx

He's Lockbox Sketchy (by Mike [TX]) Posted on: Dec 29, 2019 7:12 AM
Message:

When I use to rent I would never go to lockbox showings . One reason is because I would always want to ask questions and considered it a waste of time. The other reason was every lockbox showing I went to was advertised as a nice place. When I got there it was a dump. It seemed to me it was always a landlord who didn’t take care of their place.so I wasn’t going to waste my time was the biggest reason I wouldn’t go to them. --73.166.xxx.xxx

He's Lockbox Sketchy (by NE [PA]) Posted on: Dec 29, 2019 7:21 AM
Message:

I'm wondering that too. The main thing that's changed with me regarding these extended vacancies is starting lockboxes about a year and a half ago.

But....

The entire process is automated / digital, so it's not presented in a slumlord type approach. --50.107.xxx.xxx

He's Lockbox Sketchy (by Mike [TX]) Posted on: Dec 29, 2019 7:38 AM
Message:

By the way , to all of you who do lockbox showings and think every thing will be fine because you have a pic of their ID . In my town there was some people sending pics of fake ID’s to the landlord they would then go to the house and steal all the appliances and anything else worth money. --73.166.xxx.xxx

He's Lockbox Sketchy (by WMH [NC]) Posted on: Dec 29, 2019 8:22 AM
Message:

Lockbox showings indicate a LL who is too busy to engage. If they are too busy at that stage, what will they be like when I as a tenant need something? --50.82.xxx.xxx

He's Lockbox Sketchy (by LindaJ [NY]) Posted on: Dec 29, 2019 8:24 AM
Message:

For me, I want to talk to the people. I want to answer their questions. Having 1850s houses with land around them, I want to explain that unless you are used to country living, it isn't the wonderful place city people think. I also want them to know I am a hands on LL. I want to keep the place nice, I want to know what is going on etc. That is why I SHOW the place.

I would think that lockbox showings might give the impression it is a big company that doesn't care about the tenant or a absentee LL. --108.4.xxx.xx

He's Lockbox Sketchy (by Oregon Woodsmoke [ID]) Posted on: Dec 29, 2019 8:33 AM
Message:

I don't have any lockbox experience, but my live interactions show that 80% of callers won't make an appointment because they know that they won't qualify and, of the rest, most won't show up if I don't have another intermediate step before I make the appointment. Of the ones who get that far and have an appointment 10-20% won't show up.

Just a guess: if they can go to see the place without an appointment, they don't actually schedule a time in their own minds, and they forget. My experience is that most tenants are bad at arranging their time use.

Are you sure that people are actually showing up? Maybe they forget to go and look. Or forget how to get in touch with you again. --98.146.xxx.xxx

He's Lockbox Sketchy (by Gail K [GA]) Posted on: Dec 29, 2019 9:02 AM
Message:

I (stupidly; I'll admit it) turned some of my properties over to Property Management several months ago and they use lockboxes instead of showing in person.

So far my experience with such has been dismal.

In one case the feedback from viewers included the comment that the house had an odor. The PM knows I still want to keep my hand in all of this so they contacted me and asked if I wanted to check on this or if I wanted them to. I was in the neighborhood and stopped by. I should point out the water to the place was on but shut off at the meter to prevent issues with accidental problems in an empty house.

The house has three bathrooms. Guess what I found in each toilet? And I'm not talking liquid waste either.

Other times I stopped by and found one of the bedroom doors closed and locked from the inside, the temp on the central air turned down to 55 degrees, cigarette butts in the kitchen sink and, yes, continued use of the toilets (I turned the water back on at the street so at least the toilets can be flushed).

I've notified the PM that someone now needs to be present to show the house. I'm about the tell them to take the property off their listing and I'll go back to showing it myself and either dealing with finding a tenant myself or putting the place up for sale.

Gail --73.108.xxx.xx

He's Lockbox Sketchy (by RB [MI]) Posted on: Dec 29, 2019 9:32 AM
Message:

Another no vote, on lockbox showings.

It aint all it's cranked up to be. --184.53.x.xxx

He's Lockbox Sketchy (by S i d [MO]) Posted on: Dec 29, 2019 9:50 AM
Message:

I rented two vacancies this month--Decembers--the slowest month of the year usually--using lock box showing to well-qualified candidates.

For the sake of argument, let's pretend the reason they're avoiding you is they want someone to ask questions. Easy fix.

"Bob, here's the address. When you get there, call me and I'll give you the code to get inside and I'll stay on the phone to answer any questions you have."

Fake IDs got you worried?

"Bob, here's the address. Text me a copy of your ID. When you get there, Face time/Skype/video chat with me on Messenger so I can verify you are the person in the ID. Then I'll give you the code to get in and I'll stay on the line if you have any questions."

What are your other objections and let's solve them. --107.216.xxx.xxx

He's Lockbox Sketchy (by Jkj [MA]) Posted on: Dec 29, 2019 9:54 AM
Message:

I personally have never used lockbox showings, I have looked at rentals in the past with a lockbox. I was never impressed, I saw things similar to what has already been mentioned, use of toilets when there’s no water, locked doors, lights left on, etc, etc. I got the impression the LL couldn’t be bothered. I want to be there and interact with prospects, answer any questions they have, and get a read on them. JMHO --72.224.xxx.xxx

He's Lockbox Sketchy (by NE [PA]) Posted on: Dec 29, 2019 9:57 AM
Message:

On the other hand, I have found that the ones who want to talk to me on the most are typically the oncea that barely pass the pre-screen or not at all.

I have gotten very good tenants with lockboxes, but I have also extended vacancies. Lesser of 2 evils I guess.

Personally, I have no interest in going back to physical showings. Maybe group showings or just do on site showings for the 1st month of vacancy, then go to lock box.

I wouldn't have time now to handle it all with 3/4/5 vacancies at once. It "whack a mole" portion has to be automated. --174.201.xx.xxx

He's Lockbox Sketchy (by WMH [NC]) Posted on: Dec 29, 2019 9:59 AM
Message:

I don't see that method as saving me any personal time? I still have to be available to talk with them? Worse, it's on the PHONE which I hate. --50.82.xxx.xxx

He's Lockbox Sketchy (by Mike [TX]) Posted on: Dec 29, 2019 9:59 AM
Message:

Sid, I thought the whole idea of lockbox showings from reading your previous posts were so you had to fool with the business less and have more free time to do other things. If your going to sit on the phone with him while he’s there then your defeating the whole purpose of lockbox showings. And personally I wouldn’t want the hassle if I was the tenant. Especially FaceTime which is only available on iPhone or having to download skype on my phone. ...that’s being pretty invasive and rude coming from a landlord who doesn’t want to put effort into hi,s business. --73.166.xxx.xxx

He's Lockbox Sketchy (by Mike [TX]) Posted on: Dec 29, 2019 10:20 AM
Message:

Sid, one more thing. I know your always crowing about all calls go to voicemail. And if that’s what you do then why would you want to waste time talking to someone who hasn’t even seen your house yet? You sure contradict yourself a lot. --73.166.xxx.xxx

He's Lockbox Sketchy (by RB [MI]) Posted on: Dec 29, 2019 10:21 AM
Message:

Mike [TX]

Your spot on with your first sentence.

(Head scratcher) --184.53.x.xxx

He's Lockbox Sketchy (by RB [MI]) Posted on: Dec 29, 2019 10:25 AM
Message:

Mike [TX]

Good hit on your 2nd post, also. --184.53.x.xxx

He's Lockbox Sketchy (by AllyM [NJ]) Posted on: Dec 29, 2019 10:53 AM
Message:

When I show a property in summer it will be cool and comfortable because I am there early to turn on the AC. In the winter it will be warm and the blinds will be open to let in the sun and I will have lights on inside. There is no substitute for the personal touch. I wonder if some of these folks that ignore the personal touch are claiming to be owners but are really managers who really don't care about the bottom line. --173.61.xxx.xx

He's Lockbox Sketchy (by Scott [IN]) Posted on: Dec 29, 2019 10:53 AM
Message:

Gail K,

LOL about your toilet experiences. I immediately thought, hey, if you don"t provide toilet paper, they won't use the toilet. Bad idea. They might substitute hand towels or shower curtain. --107.141.xx.xxx

He's Lockbox Sketchy (by NE [PA]) Posted on: Dec 29, 2019 10:54 AM
Message:

Lockboxes or no lockboxes, I can't deny the fact that the QUALITY of my applicants has dropped tremendously. --50.107.xxx.xxx

He's Lockbox Sketchy (by WMH [NC]) Posted on: Dec 29, 2019 11:03 AM
Message:

Mine have gone up considerably. But that's got nothing to do with HOW I show and everything to do with pre-screening in the first place. --50.82.xxx.xxx

He's Lockbox Sketchy (by fred [CA]) Posted on: Dec 29, 2019 11:08 AM
Message:

If a lockbox is supposed to be an improvement im marketing or a way to avoid "another annoying no good prospect tenant", then it's one step forward, two steps backwards.

You can't beat face to face, not when the rent is over $2000. --99.59.x.xxx

He's Lockbox Sketchy (by NE [PA]) Posted on: Dec 29, 2019 11:38 AM
Message:

Landlording is in no way is a perfect science. So the question then becomes, where do you max out?

Where do you max out with a number of units you can handle? The number of units that you can do the maintenance on? The number of units that you can turn over at one time? The number of units that you can show?

We flipped 10 properties this year and I had a ton of vacancies. If I didn't have those lockboxes this year, I would've been up the creek without a paddle. I would've been showing units constantly.

My one current vacancy is approaching 500 interested parties!!! It may be past that at this point, I haven't checked. (Proof the pool has declined.) I couldn't imagine handling all that on the phone when an automated prescreen of 8-10 questions does it for me 24 hours a day automatically. Why would I talk to them just to deny them on the phone? Zero point in doing so.

I'm not interested in hiring that out for a few reasons. I don't want to have someone there representing me and not knowing how to bob and weave questions on site.

And potentially saying something stupid that could put my business at risk or put this apartment in a position to where I can't back out of a situation with a prospect if I need to. There's too many variables to have someone else represent me.

I have no intention to quit buying rentals. I have no specific number that I'm looking to stop at. So the more units I add, the more things change and the less time I have to do certain other things. --50.107.xxx.xxx

He's Lockbox Sketchy (by Mike [TX]) Posted on: Dec 29, 2019 11:59 AM
Message:

NE, maybe you could do what I do. For my out of town places. I have a friend that lives there. He shows them, gives me his opinion. If good I speak to them on the phone. If I like everything I then do all my background and credit checks. Then before I sign a lease I drive up their and meet them myself and sign the lease in person..... or not. Yes, I give my friend a half of months rent but it’s worth it. .

I have been doing this for 20 years with my out of town places and it’s worked out great. Don’t you have someone in your town that could use some part time money? You should try it this way. That way you don’t waste your time until your almost positive they are the ones to get the place. Only one time did I drive up there and not rent the place to someone. All other times it works out great. --73.166.xxx.xxx

He's Lockbox Sketchy (by CJ [MO]) Posted on: Dec 29, 2019 12:29 PM
Message:

I pay showmojo about $1000/year for scheduling and lockbox show. I can not do individual showing because it take about 50 to 100 showing to get 1 tenant. We do group showing 95%, they have option for lockbox showing only if prospect is qualified. --104.186.x.xxx

He's Lockbox Sketchy (by Robert J [CA]) Posted on: Dec 29, 2019 5:51 PM
Message:

I run ads with Pictures of the interior apartment and exterior. I list my amenities, size of unit and location. Anyone is welcome to do a drive by. I have 2 or 3 showings a week and schedule appointments around 10 minutes apart. Once someone shows up and starts to have interest, the appearance of other lookers get them filling out an application on the spot.

I don't care if "they" can't make it to my showings. I have a morning and evening showing during the week. Any interested party will show up once they see and compare my property to others. --47.156.xxx.xxx

He's Lockbox Sketchy (by Mickie [OH]) Posted on: Dec 30, 2019 6:41 AM
Message:

I'm interested in lockbox showings. I just picked up two more. A tenant will be transferring from another property to one of the two new properties and I may try out a lockbox showing for the house they're leaving. It would allow me to show it on days I'm working my day job (12 shifts which mean I can't currently show those days). --174.252.xxx.xxx

He's Lockbox Sketchy (by Steve [TN]) Posted on: Dec 30, 2019 8:29 AM
Message:

My opinion - If a LL has a small number of units, I as a potential tenant would want to meet him/her to ask questions, etc. If the LL has a lot of units, I would expect a property manager to show me the unit so that I could ask questions, etc.

The lockbox just screams "not engaged, doesn't care about me" for a small LL and screams "too cheap to hire a proper manager" for a large LL. --68.156.xx.xx

He's Lockbox Sketchy (by Ken [NY]) Posted on: Dec 30, 2019 9:25 AM
Message:

Lockboxes have been working for me,if a prospective tenant isn't interested because I cant be there I don't care,the ones who want to talk usually just want me to work with them on the security depost or explain why they have 5 evictions --104.229.xxx.xxx

He's Lockbox Sketchy (by Cjo’h [CT]) Posted on: Dec 30, 2019 9:27 PM
Message:

Ned,I have never done a “lockbox” showing,so I don’t know.Remember the old adage it’s hard to make a good first impression,especially if you’re not there.....................Charlie...................................is that not true?............ --32.214.xxx.xx

He's Lockbox Sketchy (by NE [PA]) Posted on: Dec 30, 2019 9:41 PM
Message:

Most houses are SOLD from the curb. Now it's probably from the "click".

What is the magic in being there?

I used to be totally against lock box showings. Now I couldn't imagine going back to meeting every bozo around town in person at these units.

Does it extend vacancies? Probably. --174.201.xx.xxx

He's Lockbox Sketchy (by Cjo’h [CT]) Posted on: Dec 30, 2019 9:44 PM
Message:

Oh!and Ned, my first prospect usually rents the place,if they’re qualified the first time my adv goes up!My adv.is a. 2’ x 3’ x1/2” piece of plyscore painted white with my phone number in big black letters and if it’s a one or 2 bedroom................Charlie............right in front of the property................................... --32.214.xxx.xx

He's Lockbox Sketchy (by Cjo’h [CT]) Posted on: Dec 30, 2019 9:50 PM
Message:

Works for me.I do it my way.Remember Frankie.....................Charlie............Of course!!!!!!! You do......... --32.214.xxx.xx

He's Lockbox Sketchy (by Josh [CA]) Posted on: Dec 31, 2019 4:09 AM
Message:

NE I am stunned with your statement:

My one current vacancy is approaching 500 interested parties!!! It may be past that at this point, I haven't checked. (Proof the pool has declined.)

What! If I showed one rental 30 times without renting it to a qualified applicant I would feel I was doing something really wrong. The rental market differences between Southern CA and PA apparently are massively different. For the last 3 years I have been renting my vacancies in 24 hours or less. To qualified tenants that stay put average 5 years. I am a bit under market but not much. We also have rent control now in CA 1842. --71.9.xxx.xx

He's Lockbox Sketchy (by NE [PA]) Posted on: Dec 31, 2019 5:49 AM
Message:

Josh, the "interested parties" does not mean actual showings. That is people who have contacted regarding that unit.

I'm stunned too.

This particular unit has been one of my faster moving units through the years & I do wonder what I'm doing wrong.

It'll rent. --174.201.xx.xxx

He's Lockbox Sketchy (by WMH [NC]) Posted on: Dec 31, 2019 8:25 AM
Message:

NE, I don't get it. It appears the only difference is the lockbox showing! Have you tried going old school: pre-screen, yes, but do actual showings to pre-qualified people? --50.82.xxx.xxx

He's Lockbox Sketchy (by NE [PA]) Posted on: Dec 31, 2019 8:40 AM
Message:

WMH, I haven't for a while. I think with my next vacancy I will do group showings a few times a week for the first month while the listing is fresh then go to lock box. Just to see how it goes. --174.201.xx.xxx

He's Lockbox Sketchy (by Rob [MA]) Posted on: Dec 31, 2019 6:09 PM
Message:

NE-

How do you automate the pre screens 24 hours a day?

Josh-

Could it be the beautful weather and everyone wants to live there?

Ken-

I know the feeling. Well put.5 eviction haha.

WHM-

What's your system?

Great thread. The pre screens are huge. --99.203.xx.xx

He's Lockbox Sketchy (by NE [PA]) Posted on: Dec 31, 2019 6:16 PM
Message:

Rob, tenant Turner --174.201.xx.xxx

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