SIX SECRETS PROPERTY MANAGERS USE FOR FILLING A VACANCY
A good property manager knows how to find a tenant quickly without compromising the screening process so that you can find a good tenant to care for your home with minimal loss of rent. Here below are the six secrets property managers use for filling a vacancy.
Writing the ad
A carefully written and detailed ad. Don’t make it too long or too short. People are more likely to respond if they know the details, but they don’t want to read an ad that’s too lengthy. Three to four paragraphs is a good length. Make sure it’s well-written and organized.
Quality Pictures
Include a lot of pictures. Pictures grab people’s attention fifty percent more than text alone, making your property more appealing. Ensure you have good lighting and that the pictures are useful. Show important features such as the front of the home, kitchen, living room, each bedroom and bathroom, the backyard, and the surrounding community.
Maximizing Visibility
Maximize the listing’s chances of being found by potential tenants. The most effective place to advertise is online. There are dozens of great websites to list your rental. To get a place filled quickly with the best possible tenant, you will want to use all of them. This is important but also time-consuming. At Kasteel Property Management, we have a secret weapon: our software. After we prepare a great ad, we can instantly send it to all the top listing websites with a single click. Anyone looking for a home to rent will definitely find our listings.
Timely Communication
Answer your phone and respond to texts and emails quickly. This may sound obvious, but it’s not practiced as often as you might think. People often tell me they can’t get a response when calling about rental properties until they contact Kasteel Property Management, and then they are thankful to finally talk to someone. If inquiries are not followed up on right away, prospective tenants will quickly move on.
Efficient Showings and Applications
Show vacancies quickly and make it easy for people to apply. Prospective tenants usually have 10 to 15 places they might be considering and will gravitate towards those that are easiest to see and apply for. While you can’t control whether they like the place, you can be the fastest and easiest option for them to tour and apply. With modern technology and creativity, Kasteel Property Management is able to show vacancies quickly and securely. Our app and mobile-friendly website allow people to easily apply right from their phone, tablet, or computer.
Thorough Screening Processes
Number six: Implement thorough screening. You don’t want to rent to just anyone. You need to have a solid plan and specific standards to apply to each application. You can follow the link to our other video that goes into more detail on how to screen applications. These six steps have proven to be very effective.
One example of our success was when someone first called me while standing outside a vacant home. Because I immediately answered the phone and took some security measures, I was able to remotely allow them inside. While standing inside the home, they pulled out their phone, filled out an application, and uploaded all the requested documentation. They asked if it would be possible to move-in that day. I immediately followed my fast yet thorough screening process, performed all the necessary checks, and found that their application was approved. A lease agreement was sent out to them for electronic signatures, along with instructions on how to pay the deposit and rent. They completed everything requested and were moving in just a few short hours after they first called me. While it doesn’t always happen this fast, at Kasteel Property Management, we are capable of meeting that demand without sacrificing thorough screening.
