Hi, I’m Mark with Rent It Network. Our firm specializes in managing single family homes, condominiums, town homes and multi-family properties throughout the Tampa Bay area including the counties of Hillsborough, Pasco, Pinellas and Manatee.
Today I am discussing how a Tampa property manager works to reduce vacancies in your rental property. Vacancy is something to dread when you have a rental property. You don’t want it to sit empty on the market, because it deprives you of rental income and reduces the amount of money you are able to make on your investment. Today we are sharing a few important things you can to do limit the amount of time your property is vacant.
First, make sure the property shows well. You want it to look desirable and comfortable to prospective tenants. Well-maintained, clean properties always rent the fastest. That means you should spend a little time making it look good. Pay attention to your curb appeal and make sure the outside of the home is neat and inviting. Get the place professionally cleaned and take care of details. For example, keep the lawn mowed and repair or replace any loose door knobs or bent blinds in the windows.
Price the property correctly. This is a huge mistake a lot of landlords make. Remember that tenants have a lot of choices. If your property is overpriced, they are not going to rent it. Get to know your market and price it fairly. Coming down on your price a little will pay off in the long term because it means you won’t miss out on additional months of rent while you wait to find someone willing to rent your home at a higher price.
Respond quickly to anyone who contacts you about the property. You don’t want to waste any time because good tenants can find a rental home quickly. When you receive an email or a telephone call about your property, pre-qualify them right away and make an appointment to show the place. If you don’t return a message for several days, it will be too late. Your potential tenant will have already found something else.
Finally, take care of your valuable tenants who are already in place. The best way to avoid vacancy is by holding on to your tenants and getting them to renew their leases. If you are responsive and respectful during the course of a tenancy, your tenants will be happy. Happy tenants usually stick around, and that’s good for you and your property.
If you have any questions about how to reduce vacancy and keep your home rented, please contact us at Rent it Network, and we’d be happy to tell you more.