How to Fill Your Apartment Vacancies Fast
One of the largest threats a property owner or manager faces is the cost due to unoccupied or vacant units. To ensure that monthly income is generated and no money is lost, it is crucial for apartment owners to fill their vacancies as soon as possible. Harland Property Management, a premier San Diego apartment management company, offers expert advice on how to fill your apartment vacancies fast.
Although many property owners believe curb appeal is important in selling a home, it is often overlooked when renting apartments. In order to compete for tenants, your apartment building must stand out and be in ready-to-rent condition. Studies indicate that more than half of prospective tenants drive by a unit before contacting the owner to schedule a walk through. With this information in mind, you can understand how important it is to make sure the outer appearance of your apartment is aesthetically appealing. A large and easy to see “for rent” sign outside of the property is also recommended with a contact phone number that is easy to read.
The next step in getting your apartment vacancy filled quickly is marketing. The easier it is for people to find information about your apartment, the better chance you will get it rented in a short period of time. The Internet is an invaluable tool for marketing, with most rental or housing websites allowing individuals to post information about a rental property free of charge. Try to post everyday or as often as you can and vary the headlines and content of your posts. Also, make sure you list onmore than one rental or housing website. The more exposure your property has, the more tenants you have to choose from, which generally results in higher quality placements.
When you have vacancies, you must be accessible and available to prospective tenants at all times. Make sure the contact number on your rental sign and on your online listings is a number that you have access to morning, noon and night. You will also need to be available to meet prospective tenants to show them the unit. The more showings performed, the better chance someone will be interested in renting your property.
Finally, make the rental price of your apartment comparable to others in the area. Compare square footage, upgraded features and additional amenities. Unfortunately, the rental amount of your unit has nothing to do with your mortgage and raising the rent to meet a higher mortgage price will likely drive prospective tenants away.
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For owners who feel as if they have tried all of the above tips and still struggle with routine vacancies, contact Harland Property Management. From marketing to tenant screening, we provide the resources you need to fill your vacancies quickly, without hassle. We also offer eviction protection for landlords who have had problems with troublesome tenants. For more information or for an instant property management quote, call us at 858-367-0343.