Whether you have one or more rental properties, the money you make from rent supplies at least some of your income, and most people cannot afford to lose that money, no matter how much or little.
Because of this, a vacant rental property is very frustrating for landlords. If you’re worried about not having a tenant, this article will review how to quickly fill a vacant rental property.
Optimize your marketing techniques
One of the quickest ways to fill up a vacant property is to spruce up your marketing skills and strategies. The best way to do so is to optimize your rental listings. You want to be sure to include as many photos as possible and even a video or virtual tour. Make sure the property is clean, as maintaining a vacant rental property is critical if you want a tenant to be able to envision themselves living there. In addition, your listing should list out the best parts of your property so prospective tenants can get a quick look at what you have to offer.
For example, you could write: 2 Bed/ 2 Bath/ Single-family unit/ Fenced in yard- $1,800 per month.
Be on top of screening tenants
You must be proactive to reduce the time between the old tenant moving out and a new tenant moving in. This means that you should be on top of client applications so you can screen them as quickly and efficiently as possible. You don’t want to end up with a tenant that’s a poor fit because you were trying to fill a vacant space quickly. In the end, that may cost you more money. It may also be prudent to have a link to a printable PDF of your application form or online form under your listing.
Host open house events
Often, marketing alone isn’t enough to fill an empty property. Host open house events so prospective tenants can physically check out your property. It also allows you and potential tenants to get to know each other personally. This helps set the foundation for a good landlord and tenant relationship, making it easier to convince potential tenants to rent.
Use word of mouth to your advantage
If you have a tenant preparing to leave, that doesn’t mean you want to start neglecting that tenant to find another. Often, potential tenants will turn to current tenants to get a feel for the property before committing to moving in. You want to make sure that your current tenant will leave good reviews for your property, as this will drive traffic to your listing. It may also be wise to invite a happy tenant to an open house event.
Now that you know how to quickly fill a vacant rental property, you’re better equipped to restore your peace of mind and match your vacant rental property with a great tenant.
