Friday, November 2, 2012

Ways To Help Keep Your Rentals Filled...If You Didn't Already Know

We're all hearing that housing seems to be rebounding. A ways to go, of course. but it is looking better.

As a local Realtor I do have people that purchase investment properties, myself included. So, just a tidbit of reminder information to help keep your rental properties occupied. Once more people start buying again, those after Short-Sale or Foreclosure, we may have a few more vacancies. I know, I know, I keep harping on that. I'm a nag. 

Regardless of my naggyness (is that even a word), if you'd like, please see below for some suggestions:

1) Similar to when we list a house for sale ~ Use lots of PHOTOS on your advertisements. People respond to photographs much better than the written word. And, it will help eliminate the ones that, in person, find the property not appropriate to them. Saves you time...time = money.

2) Video ~ yup. Take a video, you can do it! When it's vacant, unless there have been major changes, take it when there is no one living there. You can use the same one over and over again. People love those videos and using the same one again? Hmmm, saves time....time = money.

3) Start the search for new tenants before your unit is vacant. And, if your current tenants are good ones, OMG, ask them first if they know anyone. They can be a great referral source for you.  Work with your tenants, if they are the good kind, to show your property. They don't generally like when someone comes if they are out, so arrange it when they are there. They can practically advertise it for you....again, if they are good and happy tenants. This will help to avoid a long time with the unit being empty....time = money.

4) Use advertisement sites wisely. Make sure you are getting the quality prospective tenants from whatever advertising you are doing. Always ask the applicants where they saw your ad. Take note of where they come from and learn by the quality of applicants you get which places to stop advertising. Less time spent on those sites that don't refer quality. ....time = money.

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