In the competitive rental industry today, it’s common to wonder if Property Managers lie about having multiple applications. It may sometimes feel surreal when you hear ‘there’s a lot of interest’ in every rental property you look at – so are leasing agents and property managers telling the truth or stretching it to interest you?
Why Professional Property Managers Won’t Lie
Professional Property Managers have a lot to lose if they’re caught lying. Here are the most common reasons they won’t lie.
The Moral Code of Real Estate Agents
First, know that In North Carolina, a commercial or residential property manager must be a licensed real estate broker, however, there are some exceptions. (See G.S. 93A-2(a).) Licensed brokers have an ethical code they should follow. Is it super regulated? Probably not as much as it should be since it’s hard to follow up on every real estate agent in the state, much less the country.
If the Professional Property Manager is a member of NARPM® (National Association of Residential Property Managers), there is a 2nd set of ethics to follow. You see, NARPM® promotes a high standard of business ethics, professionalism, and fair housing practices. All property managers who are members of NARPM® must abide by the following Code of Ethics and Standards of Professionalism (the “Code”).
But, reputable Professional Property Managers won’t lie. They abide by their required ethical conduct and professional standards and want what’s best for their clients.
Professional Property Management is all about Reputation
If a Professional Property Manager is known as a liar in the industry or even one person calls their bluff, it could ruin their reputation. Professional Property Managers rely on word-of-mouth. They don’t want people telling others in the area bad things about them.
Lying just to get more applications really isn’t an ethical move and anyone who’s found out doing it will likely ruin their reputation.
Keep in Mind
Before you apply for a rental property, READ. Take the time to read and understand the Application Qualifications. You can see that our Application Qualifications are listed on our website. Professional Property Managers will make this information public so that you have access to this information prior to applying for a property. Take a look at our Property Page that discusses some reason to be declined and then our Application Qualifications Page.
Then, if you have questions, ASK them before you apply.
Most applicant questions can be found if you do your research first.
- Check the property management company website.
- DO NOT take the information from 3rd party, syndicated, websites. These sights will pull the information from either the Multiple Listing Service or directly from the Property Managers Website and sometimes they are not updated in real-time, so it is best to do your research and look up the property management company website before you apply.
- Ask the leasing agent or property management company how they handle multiple applications.
Final Thoughts
The key to finding out if a leasing agent or property manager is lying about multiple applications is to do some research yourself. As someone renting a property, you need to do your research as well.
Sure there are unscrupulous leasing agents and property managers out there that will lie just to get a home leased. Don’t fall for it. Take the time to do your research as well and take the time to READ and UNDERSTAND the process. The process is not always the same for every property, every leasing agent, or property management company.
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