Reducing Vacancy Rates

by Scott on April 5, 2017

No one likes a vacant unit. They’re one of the biggest blows to a landlord’s flow of cash. But vacancies can be prevented most of the time. With the proper planning and communication, you can keep your units – and your wallet – full. Scott Safadi of Cal Bay Property Management recommends following these simple tips to keep everyone on the same page.
Market yourself!

If you anticipate a vacancy in your rental community, turn up the heat on your marketing. Create promotions that will drive potential applicants to your units, and then turn on your charm – after all, who wouldn’t want to live in your community?
Communicate
Half the battle of filling vacancies is understanding when one is on the horizon. Successful property managers keep a finger on the pulse of their tenants. You should start checking in with them eight to ten months into their lease about their plans for the coming year.
Reduce Turnover Time
Even the best tenants sometimes leave stained carpets and scuffed walls. Have your maintenance team prepped and ready to get in and out as quickly as possible. When the unit is cleaned, refreshed and all systems have been tested, you’ll be ready to move the next tenant in – hopefully with no lag in turnover time!
– Scott Safadi, Cal Bay Property Management

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