Every day a rental unit sits vacant is another day of lost income for an owner of an investment property. No matter how great your real estate portfolio looks, if those properties do not have a signed lease and tenants living there, then those properties are only costing you money. Filling those vacant units as quickly as possible is essential to the prosperity of your bank account. 

Not only are you losing money, but you are also spending your time and energy worrying over finding a tenant to fill the space. If you are like most investors, you have far more important things to do, than worry about the details of marketing the rental. If you want to get people into the unit as soon as possible, follow these tips to fill your vacancies quickly.

Be sure to keep in mind however, that no matter how quickly you want to fill the vacancy, it is important to have good, qualified tenants in place. Don’t cut corners and overlook red flags such as a bad credit score, poor rental history, no proof of income, or failure to pass a background check. 

Also remember, before you can begin marketing, make sure that you have prepared the listing. Once you learn of the news that your current tenants will be moving out in 30 days, start gathering the information you will need to list the property ASAP. Prepare an ad with a clear description of the property, being upbeat and positive about the attributes that make your unit most appealing. Then assess your photos. Make sure the pictures you have to post in an ad or online will show the unit to the best advantage. Make sure the apartment, condo, or home is clean and that the blinds are open and the lights are on to optimize the lighting inside the unit. 

With these thoughts in mind, let’s get started and take a look at 5 ideas for marketing to fill vacancies quickly.

Telling others that you have an available property on the market can speed up the marketing process. Allowing others to help spread the word for you opens your advertising up to potentially an entire new group of people. Use your social media accounts to get the ball rolling and ask your contacts and friends to share on their accounts too.

People want to move into a place that is nice, well-maintained, and that feels safe. They want to rent from someone who they feel can be trusted and that they can have a friendly rapport with. If you have friends or other satisfied tenants, allowing them to spread the word and sing your praises will give the people they are talking to a sense of immediate security and will potentially set you apart from any other places that may be considering for their next apartment.

Although they may not reach a vast amount of people, putting up a for rent sign in the window, on the lawn, or at the street corner may advertise to just the right person. You only need one good and qualified tenant and there’s always a chance that they may be living close by in the neighborhood and see the sign as they are driving or walking by.

If you put the sign on the curb, be sure to list a phone number so interested parties will know who to contact.

The world has gone virtual and nearly everyone is now online. The good news of this is that the amount of people who can now view your listing is literally unlimited. 

Take advantage of Zillow and other free online listing sites to market your property. Try to exhaust all free resources before you start listing with websites that charge fees, as this is only cutting into your bottom line.

Similar to the for rent sign on the curb, a newspaper ad may not be seen by a countless number of people, however some people are used to more traditional listings and may go to the newspaper to do their apartment hunting. 

Ads in print can often become very costly, so be sure to make your ad short and sweet, and just give the highlights of the property and your contact info.

If you would prefer not to be bothered at all with the process of filling the vacancy yourself, hire a property management company to work for you! Having a property manager will free up your time, as the company will take care of writing all the ads, taking pictures, and sorting through all inquiries.

A property manager will also have a company website, along with a large number of their own tenants that they can use to assist in spreading the word.

Using these marketing tips and tactics to quickly fill your vacancies will put a tenant in your rental property and some dollars back into your pocket!

If you would like help quickly filling the vacancy in your Branson apartment or Branson condo, call Thousand Hills Realty today at (417) 337-8081 and let us discuss how our services will benefit you!