Welcome to the match between Open (aka 'Time-Saving) Home Inspections vs. Private (aka 'Personal') Inspections. Once you start advertising to spread the word about your property and the enquiries start to roll in, the next step is showing your property to those potential tenants. You’ll want to make the best impression possible and decide whether an open home inspection or private inspection is the best option for your property and your ideal tenants, or possibly both?
To help you make the best choice, I have provided a rundown on the differences between Open Home Inspections vs. Private Home Inspections.
In this corner we have Open Home Inspections where you can set a specific date and time for potential tenants to view your property, which will also be posted on your property ad.
In the opposite corner we have Private Home Inspections where a potential tenant contacts you to set up a one-on-one inspection to view your property.
Open Home Inspection Strengths
- Saves time - Since the open home inspection showing schedule is set to a specific date and time and posted on your property ad, it saves time by showing your property to a large group of people versus multiple private inspections in no longer than a 30 minute timeframe.
- Convenience - Prospective tenants are more inclined to show up to an open home inspection if it fits their schedule.
- Creates competition - Since more prospective tenants are viewing your property at one time than a Private Inspection, some are actually willing to pay a higher amount of rent than what you have specified to make sure they end up living in the property.
Private Inspection Strengths
- Get to know each other - With private inspections, you get to know your potential tenants better than an Open Home Inspection since its a one-on-one viewing. This also can give you a better idea if that particular tenant is suitable for your property.
- Explain the benefits - With this one-one-one type of inspection, you will get to know the potential tenants on a personal level and what they are looking for in regards to a property. This will give you a better chance to explain the benefits of your property that suits their needs giving them a better chance to fall in love with the property.
- Customised Inspection - Unlike Open Home Inspections, by having a specific time frame setup just for one tenant it will make them feel special and more likely to rent your property.
So far its a tied match between Open Home and Private Inspections. You be the referee and decide which is best for you in the last round on the suitability of each type of inspection.
Open Home Inspections: If your property is similar to a typical home, is in a popular area or suburb and is priced mid-range between $300 to $500, then this may be the inspection option for you.
Private Home Inspections
For more unique home or expensive properties, a private inspection gives the owners a better opportunity to explain all the benefits that can't be explained in just a few minutes as with a typical home.
If you can’t decide the tie breaker between Open Home or Private Home Inspections, remember you can do both. You can schedule an Open Home Inspection on a specific date and time and welcome appointments for Private Home Inspections the following days. It’s really what’s best for you and your prospective tenants.