Sample Spreadsheet of Exit Polling…As Promised!!

Well after another crazy week of property negotiating,  went back and forth on 1 property for 2 days…but I got it!  Only cost me an additional 7K, over listing…OUCH!

As I promised I would release a sample spreadsheet of my exit polling, and how changes are implemented. You will need Excel to view this spreadsheet. Please understand that due to proprietary reasons, I cannot disclose all of the questions in the exit polling, but I will tell you the 3 that are shown in the database results. 

Tenants are asked to rate their answers between 1-5…the spreadsheet will display the results as indicated by the tenant.

Question #1: If given the opportunity to choose your paticular style, how would you rate the following:
 1. Hardwood Floors
 2. Carpeting
 3. Tile in Kitchen/Bath
 4. Vinyl in Kitchen/Bath
 5. Other…Please list below

Question #3: How likely would you choose a home/apartment if all utilities are paid.
 The tenants simply answer 1-5, with 5 being not very important at all.  I will explain this question in detail at the end of this post.

Question #5:  How important is not paying a gas bill, to you?
Again, tenants are asked to rank 1-5.

The data is collected each and every time a property is shown, regardless if the tenants chooses our place or not. Most of the 12 (currently 12, considering adding 3 more) questions, are asked during the walk thru of the property, as to not waste the tenants time.

For any question to be implemented into "The Renovation", it must maintain at least 55% approval rating, for no less than 2 weeks. At that point, I will implement that suggestion into "The Renovation", and create new work orders on existing properties under renovation, provided that implementation does not require undoing something, that has already been done.

As I stated above, I will explain Question #3. I am looking at the possibility of suggesting all utilities to be paid by the owners, to eliminate a couple of problems from popping up. Better explain this before I get my head bit off.

For one this will completely eliminate the concern of utilities being shutoff and causing freeze ups, which will result in considerable amount of damage to the property. The other fact, these properties will not last on the market at all…they will rent so fast, your head will spin.

I am working on techniques in "The Renovation", to help the owners avoid super high utility bills. I can easily control the thermostat, and keep that out of the hands of the tenant. What I am looking at is how to control water usage in the properties, as a plumber I have some ideas, I just have to make sure they will be an economically wise decision.

I am actually testing this on a 4 plex that I currently manage, so far the data is to new to honestly say if it's good or bad. The other facts to consider is Section 8 Voucher's allow as much as $250 per month in additional rents, if the owner pays all the utilities. Needless to say, we need to keep the utilities under that amount. I will update as more information comes in on this test property.

If you would like a copy of this, please send me an email with "Spreadsheet" in the subject line, so the auto-responder will pick it up and deliver you a copy. Also, let me know if there are any problems with receiving your report, and I will get it right over to you.

If you do not want to email me, ( I do not spam, and will not add anyone to my email lists, without an official request) then simply PM me and I will send it to you. Please allow up to 24 hours for a PM request, as I don't get to spend as much time on here as I would like.

I can't say it enough, thank you all for the comments and emails, it's really appreciated!

Have a super profitable week!

John