5 Tips to Quickly Fill Out Rental Vacancies

Coordinating a number of real estate properties can be tedious and time-consuming, especially if you’re doing it remotely. If your property is vacant at the moment, looking for prospective and quality tenants poses another challenge. This is why so many landlords are looking for reliable property management companies. Whether you’re living in San Diego or anywhere else in California, keep on reading to learn how to fill out your vacancies quickly. 

How do you fill out a vacancy for an apartment?

While you’re waiting for qualified, well-paying tenants to fill out a vacancy, you’re losing money. To reduce this waiting time to the bare minimum, you should employ some of the following strategies:

Tip #1: Invest in marketing

If you’re a new landlord, you’ll probably find it a bit challenging to make your first official listing. Although it might seem outdated, newspaper listings are still a thing. You should start marketing your property early on, from putting the sign in front of the house or apartment, to making an official listing in the local newspaper. 

When it comes to online listings, it’s important to use appropriate photos of your apartment. Take photos during bright daylight and from most flattering angles. Another good idea is to make a short video-walkthrough around the premises.  

Tip #2: Ask for referrals

Even if you don’t have a marketing strategy in mind, you can try to rely on referrals from your previous renters. Using word of mouth is most likely going to lead to new paying applicants. If you feel uncertain, you can use instant screening tools, by asking applicants to provide their social security number. 

Tip #3: Set a reasonable price

Before you make your listing, you should do some research of other listings in the neighborhood. You don’t want to underestimate the value of your investment. Once you have set a realistic and competitive price, you can expect to hear from quality candidates. 

Tip #4: Improve your rental

A rental that is functional and comfortable is more likely to attract prospective tenants. Sometimes, you wouldn’t have time for a full makeover, but it’s best to consult with reliable professionals first. Find contractors that will help you do a small face-lift to your property and increase your chances of filling out your vacancy. For instance: 

  • Repaint your walls
  • Clean upholstered furniture
  • Include more natural lighting
  • Replace or repair old appliances
  • Do a smart kitchen or bathroom renovation.
  • Get rid of unnecessary barriers or excess cabinets
  • Repair your doors, windows and window screens.

Tip #5: Reduce costs

You can implement clever strategies to reduce maintenance costs, electrical bill and overall upkeep expenses. For instance: 

  • Replace old gas furnaces, 
  • Improve insulation of the walls, if possible
  • Install a smart thermostat to reduce power consumption.
  • Switch completely to energy efficient light-bulbs and appliances. 
  • Replace your lawn with a paver patio, to reduce the need for gardening services.
  • Use lasting materials if you’re painting or decorating the exterior of your house.

Of course, some of these tasks require more time, so you should always consult with a professional first and make sure that you can complete the project before new tenants move in.  

Where can I find reliable property management companies in San Diego, California?

To be able to rent your property without worry feels like a privilege. A reliable provider can help you minimize the risks that come with renting your property by performing thorough background checks. Here at Lofty Property Management we can help you coordinate all other real-estate procedures, including collecting your rent, renewing leases, marketing your rental and running regular maintenance. Whether you’re located in Old Town, or anywhere else in San Diego and the vicinity, you can count on our support to find well-paying tenants and to keep your investment safe. 

To get a free rental quote and find out more about our services, get in touch with us today!