Skip to Content

Get a FREE Rental Analysis of your property. Start here!

Get a FREE Rental Analysis of your property. Start here!

Showing your rental in Salt Lake City – How much time will it take?

Showing your rental property in Salt Lake City

timeHaving researched and followed applicable laws with regard to renting out your property, setting an appropriate rent and security deposit, making the home ready to rent to new residents and writing a stellar ad to get attention of those prospective residents; your phone and email should now be getting inquiries to visit the property.

Most new landlords in Salt Lake City think they will simply spend about half an hour to show their rental property.  Even if you live within 100 yards of your rental home, this simply is not the case. Showing a rental property will require significant time for initial discussion on the phone, applicant paperwork, and driving to/from your property. As such, time management becomes key to find a quality and qualified renter for your home.  A few things to keep in mind as you schedule your time and expenses for tax purposes are as follows per showing:

  • Time spent on phone for initial discussion, plan to talk 15-20 minutes
  • Drive to property, show tenant inside and outside, all features, 25-90
  • Applicant will fill out paperwork, this varies greatly; anywhere from 15 minutes to 3 days or longer
  • Car mileage: 57.5 cents per mile. If property ten miles away, then total mileage deduction would be $11.50 per each time driven
  • Car gas – About one gallon per visit – about $2.50 per gallon
  • Each showing will require 1.5 hours of your time, $11 of wear & tear on car, and $2.50 in gas

 

timeAnother trap many new landlords fall into is showing the property once and taking the first applicant with money in hand. However, it takes on average 7 to 15 showings to find a quality and qualified applicant. Based on the above numbers per showing, performing 7 to 15 showings will burn approximately 10-20 hours of your time, $80-$230 for wear and tear on your car, and $17 to $37 in gas. 

How much is your time really worth??? 

The above information should give you a solid idea as to the time and costs required for showing your property so that you can plan accordingly. For more information, see our Landlord Calculator.

Need help just finding a tenant, or someone to handle showings? Let us know! We can put together a custom plan that suits exactly what you need, nothing more, nothing less!

Follow us on TwitterLike us on Facebook!

Visit our Education Center and Video Library for additional tools, tips and resources!

Related Articles:

Faster Leasing With Salt Lake City Property Management

5 Tips for Reducing Vacancy

Summer turnover is upon us soon – how long does it take to re-rent your property?

Stress Management 101 for Salt Lake City Real Estate Investors!

 

 

 

 

 

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.