Having a vacancy sit empty or filling it with the wrong tenant can cost you thousands of dollars. Here are the top 6 strategies we use to fill a vacancy:
- 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 is too long. 3-4 paragraphs is good. Make sure it is organized and easy to read.
- A lot of pictures. Pictures get people’s attention 50% better than text alone and it makes your property more appealing. Make sure you have good lighting and the pictures are useful. Show things like the front of the home, the kitchen, living room, each bedroom and bathroom, the backyard, and surrounding community.
- Maximize the listing’s chance 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 is awesome. 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.
- Answer your phone, texts, and emails quickly. That may sound like an obvious thing to do but it’s not practiced as often as you might think. People are always telling me they can’t get a response when calling on a rental property, until they call Kasteel Property Management and then they are thankful to finally talk to someone. If inquiry’s are not followed up on right away, it doesn’t take long before prospective tenants have moved on.
- Show vacancies immediately and make it easy for people to apply right away. Prospective tenants usually have 10-15 places they are considering. Besides choosing the place that fits their needs best, they will also naturally gravitate towards whichever ones are the easiest to see and apply for. You can’t always control if they will like the place but you can be the fastest and easiest place for them to tour and apply. With some modern technology and creativity, Kasteel Property Management is able to show a vacancy immediately and securely. Also our online app and mobile friendly website allows people to apply quickly and easily right on their phone, tablet, or computer.
- Thorough screening. You don’t want to rent to just anyone. You need to have a solid plan and specific standards for screening applications. Follow this link [POINTING TO BOTTOM OF SCREEN] to see our other video that goes into more details about proper and effective screening of applicants.
These 6 tips have proven to be very affective. One example was somebody that first called me while standing outside a vacant home. Because I immediately answered the phone, and after taking 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, uploaded all the requested documentation and asked if it would be possible to move in that day. I immediately followed my fast yet thorough process of checks and screenings and found their application met the requirements and was approved. A lease was emailed to them for electronic signatures and instructions of how to pay the deposit and rent electronically. They completed everything that was asked of them and were moving in a few short hours after they first called me. It doesn’t always happen that quickly but at Kasteel Property Management we are capable of meeting that demand without sacrificing the quality of a thorough screening.
At Kasteel Property Management we do more than just watch your rental property. We protect it, cultivate it, and help your investment grow.