How to Avoid a Vacant Rental Property - article banner

Ensuring low vacancy rates is one of the best ways to maximize your rental income. With the growing competition in the real estate market and the limited renter pool, drawing in more tenants can be a real challenge. Landlords need to put more effort into providing efficient services to the renters and applying effective strategies to avoid a vacant rental property. Here are some strategies that can help you avoid vacancy in your rental and generate consistent rental income.

Do Your Best To Retain Existing Tenants

The best way to avoid vacant rentals is to retain the existing tenants. Regular maintenance, renovation, and addressing the tenants’ issues immediately are some of the best practices to help you get extended lease agreements and make the most out of your Merced rental property.

Maintain a high degree of professionalism and do not avoid taking responsibility where required. Happy tenants will always opt for lease renewals since nobody likes to move around constantly, thus keeping your property occupied for a longer time.

Be Responsive To Rental Applications

Once you advertise the vacancy of your property, you will start seeing a stream of rental applicants soon enough. Respond quickly, without wasting time or waiting for more applicants. Do not rush excessively, but consider accelerating the screening process while finding the right tenants for your house.

Make sure you respond to applicants on a first-come first-serve basis, take the necessary steps to run the tenant background check. Taking too long before signing the lease can cause your property to remain vacant for more days.

Allow Pets On Your Property

Over 70% of renters in the United States have pets. Therefore, allowing pets on your rental property can give you the opportunity to tap into a larger pool of tenants. Pet-owners are likely to pay more rent as compared to tenants without pets, as the number of pet-friendly properties is less. In addition, you can even charge an additional deposit, as a safeguard against damages caused by pets in the property.

Allowing the pets in your property can, therefore, help you lower the vacancy rate of your property and get quality tenants more easily.

Ensure Regular Maintenance

Regular maintenance adds immediate value to your rental and makes it more appealing and rentable. It can save you time, money, the hassle of frequent repairs and thus ensure smooth tenancy. If you want to take a step towards avoiding vacant a vacant rental in Merced, you should,

  • Conduct routine inspections
  • Promptly fix repairs, if any
  • Make necessary renovations
  • Maintain the yard
  • Regularly service the appliances

Implement Effective Marketing Strategies

Advertising and marketing are essential to boost your rental business and avoid vacancy. You can consider listing your property on popular real estate websites such as Zillow, Trulia, as well as promoting the rental through social media platforms.

Marketing automation is another effective tool to promote your property. It utilizes technology for marketing and tries to reach more people through emails, text messages, and posting ads on various websites. It is a part of digital marketing that can help you get more applicants for your Merced rental property.

Regular maintenance planningContact us at River Drive Properties, a leading property management company in Merced, to get further assistance in lowering your property’s vacancy rate. We are a trusted and experienced property management company in Merced and can help you find the right tenants for your vacant properties, no matter where you are in California.