Fill Your Rental Vacancy Quickly

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. The same applies to nightly rentals. 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.

1 - Spread the word

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.

2 - Marketing Signs

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.

3 - Online Listings

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.

4 - Social Media Ads

Similar to the for rent sign on the curb, a social media ad can be seen by a countless

numbers of people.  Make your ad short and sweet, and just give the highlights of the property

and your contact information.

5 - Use A Property Management Company

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 marketing 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 and can help 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 investment property,

call Thousand Hills Realty today at (417) 337-8081 and let us discuss how our

services will benefit you.