How to Minimize Vacancy Periods in Your Temecula CA Rental
How to Minimize Vacancy Periods in Your Temecula CA Rental
If you are a landlord, having long vacancy periods is probably one of your nightmares. If you employ a good , this may not be that big of a problem. The fact remains that no one wants to have empty properties since it means there’s no income. Pick a tip or two below on how you can minimize vacancy periods of your homes for rent.
1. Know the reasons why tenants leave and deal with it
Before you think about getting a new tenant to fill the recently empty home, take time to analyze why your tenants left anyway. If your renters are happy and satisfied, there won’t be any reason to leave.
Find out why tenants stay and find out why they go. Don’t worry about hearing negative feedback or criticism. Hearing and acting on it might just save you from all those long vacancy periods.
2. Revisit your pricing
No need to raise your eyebrow. It’s a suggestion worth hearing I assure you. Price is one of the biggest motivations tenants have when choosing rentals. They are willing to pay as long as it’s within their budget and they know that the home is worth it. Consider those two things.
Some of the questions you should ask are: Is my rent priced too high compared with other properties in the neighborhood? Is my pricing appropriate for the tenants I am targetting?
Whenever you think about price, always have an open mind about slightly lowering the price when it is really needed. Remember that having very long vacancy periods can cause you more in the long run than having to adjust your pricing now.
3. Make it pleasing to the eyes
It’s what they see that tenants will remember. So if you have them over for viewing, make sure there’s no eyesores anywhere. This does not just mean having dirt and clutter all around. Unfixed faucets, broken windows, and other minor details can easily turn them off. The impression they’d get is that the property is not well maintained and problems may come up soon.
Moreover, how you take care of your property and how you present it to the tenants also say a lot about you as a landlord. You wouldn’t want to scare them off, that’s for sure.
4. Make it visible to many
The internet - that’s your biggest tool right now. Having many people view your property both online and offline ensures you a higher chance of having someone rent it sooner. Take advantage of a tenant’s tendency to go online and start their search there. Make sure your property is on top sites like RightMove, FindAProperty, PropertyFinder and others. Of course if you have a , this wouldn’t be part of your To Dos. Marketing, advertising, and even tenant screening can be handled for you.
Comments