As a property owner, vacancies hurt your bottom line. You don't receive a rent check without a tenant living in your property, which makes it imperative to find the right people to call your unit home. Of course, you also need to make sure the tenants you select are appropriately qualified and won't cause headaches for you down the road.
Fortunately, there are a few different ways to reduce the amount of time your property spends on the market. At BMG Rentals, we're committed to finding tenants in 30 days or less. We do that by taking a proactive marketing approach, rather than waiting for your home to rent itself. These are the techniques we rely on to fill properties quickly.
Price the property appropriately.
We understand, every investor wants to turn a healthy profit in their rental properties. Nevertheless, it's important to understand the market value of a home—when priced too high, a rental can languish on the market for weeks without any bites. A single extra month vacant will totally erase any profits that could have theoretically been earned with a higher rent.
At BMG Rentals, we use comparables in the current market to accurately set rent prices. We also monitor tenant interest, tracking phone calls, showings, and applications for each property. We use this data to make an informed decision on the price for vacant rentals.
Focus on presentation.
If a property isn't appealing at first glance, why would someone want to call it home? We call ourselves property management experts for a reason. We understand what renters want in a rental home and take the steps necessary to ensure showings are successful.
We'll also use the feedback we receive from past renters and showings to make suggestions moving forward. If additional cleaning or certain upgrades might help the property find a renter faster, we'll focus on getting those taken care of promptly, after discussing the options with you.
Market the property aggressively.
Unfortunately, a vacant home can't do the work itself. We use a multi-pronged advertising and promotional approach that incorporates digital property advertisements, yard signs, and syndication across a number of popular real estate websites. We also have a tenant referral program in place and can offer additional marketing opportunities if necessary through our marketing fund.