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What to Do with Those Extra Vacant Units?

What to Do with Those Extra Vacant Units?

Have you been struggling to fill a vacancy? Whether the unit has been empty for a while or it may be the rental off-season, no one likes having vacancies in their rental properties. Here are 4 tips to help you fill those residencies with quality tenants.

#1 Is the Price Right?

Checking out comparable units in your town can help you see the price points potential renters are looking for. By knowing what similar units are priced at, you will be aware of competition throughout your town.

#2 Ask Other Residents for Referrals

One simple way to help fill vacancies is by asking current tenants is they know anyone looking for a place to rent. If current tenants are happy with the property, they are more likely to encourage others to rent within the same residential properties.

#3 Don’t Lower Tenant Standards

Vacancies should not be a reason to lower your requirements for potential residents. This may only increase the probability of inviting bad tenants. Choose to wait a month or two longer instead of ending up with someone who may potentially cause damage to the unit.

#4 Get Help from a Property Manager

Finally, consider hiring a property manager who has experience and expertise to fill those empty units for you. With the right property manager, not only will you be able to fill any vacancies faster, but you will also be able to find higher quality tenants that are willing to stick around longer.

 

By |2020-01-03T17:29:05-08:00January 20th, 2020|Property Management Tips & Tricks|0 Comments

About the Author:

The MGR Review is designed to bring you the top news and tips regarding property management and real estate in Southern California. Our near forty years of experience in these industries give us a keen insight on how best to succeed. Let us know if there is a topic you would like us to discuss!

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