04/25/2022
Vacancy is the biggest fear new and current property investors have. Below are some ways to decrease vacancy times:
1. Keep up with maintenance requests. All your maintenance tickets should be treated with urgency and precision. Your tenant should be updated on when the ticket is received, scheduled, and completed if they are not at the property during that time. Make sure the person you order to fix the issue is someone reliable and does not do quick fixes to get paid for the job. You should also be following up a few days after the repair is completed to make sure the problem is still resolved. Non-completed maintenance requests are the biggest reason people leave their rental in search of a new one, taking care of this issue will increase your tenant retention rate dramatically.
2. Keep your appliances updated. If you have to fix the same stove multiple times for the same issue it is time to replace it. By the 5th repair you have basically paid for a new stove anyway, it is easier on you and the tenant to replace the unit if the issue shows signs of repeating or if it is a very expensive fix. This goes with windows, fixtures, and more.
3. Hire a property management company. Managing rentals may seem like a simple task but there are many laws, regulations, and standards to keep up with that we do on a daily basis. Managing a rental has many more moving pieces that people do not initially realize, and working full time and trying to be an effective landlord is difficult. When you work with us you can go to work knowing your property and tenants are being well taken care of in an effective and timely manner. solved. Non-completed maintenance requests are the biggest reason people leave their rental in search of a new one, taking care of this issue will increase your tenant retention rate dramatically.
