When a property sits vacant for an extended period of time, the property owner loses thousands of dollars in earning potential. In an attempt to recoup expenses and lost rent as quickly as possible, some landlords rush to find a tenant, placing the first person who submits an application. Unfortunately, this approach has pitfalls of its own, as poorly vetted tenants can cause a myriad of problems down the road.
If you have a vacant home and need to find a renter quickly, use the following tips to locate a great tenant without sacrificing the quality of the applicant.
Start the Marketing Process Early
Finding the right tenant takes time, plain and simple. To keep your rental occupied, start the marketing process as quickly as possible. When a tenant notifies our team about an upcoming departure, we put the wheels in motion to start finding a new renter before the lease runs up.
It’s also important to diversify your marketing efforts. Don’t rely exclusively on digital advertisements or physical signage in the yard of your home. Instead, attempt to spread the word in as many ways as possible. At Real Property Management, we use an assortment of proven marketing tools to find great tenants.
Make Improvements to Your Home
If you’re struggling to fill a vacant property, ask yourself, “Would I want to live here?” Many landlords are reluctant to spend money on aesthetic improvements and appliance upgrades, but splurging on these items can help move your property quickly. When a tenant walks through the home during a property showing, he or she should immediately want to move in. Not only does making improvements help boost the appeal of your rental home, but it can also help you command a better price. With plenty of competition in the North San Diego rental market, it’s important to put your best foot forward. Investing in quality fixtures and modern appliances can help you compete with other available properties.
Price Your Property Appropriately
San Diego has a metropolitan community of nearly three million people and continues to grow, which contributes to soaring housing needs. For this reason, some property owners price their properties aggressively, believing someone will be willing to pay inflated rent costs. While handsome rents are one of the benefits of owning property in this area, it’s still important to price your home appropriately, or your property could spend long weeks sitting vacant. The team at RPM understands the challenges and constraints of our local market, and we’ve had plenty of experience working with houses of all shapes and sizes. We use comparable properties in North San Diego, as well as recent housing market trends, to recommend the right price point for our clients.
Finding a tenant for your rental property takes hard work and a bit of luck. By handling the marketing of your home appropriately and investing in your property, you can improve your chances of finding a renter fast.
Want to further streamline the process? Why not partner with our qualified team? Learn how we can help you to find a great renter by calling us today for a free consultation: (760) 434-1791.
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