Vacancies are one of the biggest problems that landlords and rental property owners face. Though rent will stop coming in, the related bills certainly won’t. When you have a vacancy, it is important to ensure that you fill the rental property as quickly as possible to ensure that the property becomes profitable before you have sustained substantial losses.
Ensure that you do your research when you decide on your rental prices. It is vital that you ensure that your prices are consistent with the market in your area. When you charge too much for rent, your tenants will leave and it will be difficult to find new tenants for your property. If you don’t charge enough, it may also be difficult to reassure tenants that your rental property will be a great place to live. Do your research to keep your rental prices consistent with the other rental properties in the area. The internet is a growing component where the majority of renters begin to search for rental property. Ensure that you have a good website to prevent your competitors from drawing your potential tenants away.
When your rental property has a vacancy, you will likely want to fill it quickly. However, it is never a good idea to skip the tenant screening process. When you ensure that you screen your tenants effectively, you will likely obtain good tenants that may prevent vacancies from occurring in the first place.
Keep Up on Maintenance
It is vital to ensure that you stay up to date with maintenance on your rental property. If you allow the property to fall into disrepair, you are more likely to lose tenants and increase vacancies. In addition, it will be much more difficult to find tenants for your rental property without substantial repairs and work.
Take Advantage of Social Media
Social media is a great way to stay connected with potential tenants. This can help you to provide information to your current tenants, as well as increase your potential tenant pool.
When a vacancy occurs in your rental property, it will be important to fill the vacancy to ensure that your rental property remains profitable. To learn more about the steps that you can take to fill vacancies quickly, contact us at the Keyrenter in Atlanta today!