Many new San Diego landlords believe that it only takes about 30 minutes to show their rental property. However, this is not the case, even if you live within 100 yards of your rental home. Rental property showing will involve considerable time for initial discussions on the phone, applicant paperwork, and driving to/from your property. So time management is important in finding a quality and competent renter for your home. Keep the following in mind as you schedule your time (and expenses for tax purposes) per showing:
- Time spent via phone for initial discussion: about 15 to 20 minutes
- Drive to property, show tenant inside and outside, all features: about 25 to 90 minutes
- 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 is ten miles away, then total mileage deduction would be $11.50 per each time driven to your rental property
- Car gas – About one gallon per visit – about $2.50 per gallon
- Each showing will demand about 1.5 hours, $11 of wear & tear on car, and $2.50 in gas
A common trap that many new San Diego landlords fall into is showing the property once and accepting the first applicant with payment in hand. But 7 to 15 is the average number of rental property showings before finding a quality and qualified applicant. Following the above numbers per showing, doing 7 to 15 showings will drain around 10 to 20 hours of your time, $80-$230 for wear and tear on your car, and about $17 to $37 for car gasoline.
The above information should help you gain a better idea regarding the time and costs needed to show your property and plan accordingly.
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.