In our last post we discussed one scenario when you should consider reevaluating the amount you charge for rent – during a lease renewal period. Here we’ll talk about how to approach setting rental rates when a unit is sitting vacant. Scenario #2: Evaluating...
The longer your rental unit sits vacant, the higher your stress levels tend to rise. At a certain point, you may be asking yourself if you should reevaluate what you’re charging for rent. In the next two posts, we’ll discuss two scenarios when you should be looking...
Tenant turnover is an expensive part of owning rental properties, so doing everything you can to extend lease agreements with existing residents and minimize the time between renters will help you as a property owner remain profitable. In our recent blog series, we’ve...
Rental applicants are discerning and want to ensure that they’re paying a fair market value for the unit they lease. If you notice that your rental property is sitting vacant for longer than a few weeks, do some analysis to see what could be keeping them away. It may...
Keeping vacancy rates low is good for several reasons. For one, when residents choose to live in your units for longer periods of time, it saves you money. Not only do you have fewer turnover-related expenses, but you will also likely encounter fewer issues (and...
Managing your vacancy rate is one of the most important things you can do to ensure success as a property owner, and there are several factors that can affect this metric. Broadly speaking, we can generally distill them down to a few common categories. We’ll discuss...
