What to Do with Your Vacant Rental Property

Struggling with a vacant rental property in Auckland? Learn how to deal with an empty rental by following our strategies on preparing your property for tenants. Find out how to decrease your rental empty rate now!

As a landlord, when you’ve got a vacant rental property, you’ve got no income. This causes a drain on your cash flow, forcing you to pay the rates, water and mortgage payments with your own reserves. It’s imperative that you find a new tenant as soon as possible and today we’re sharing our top tips on how to do this.

Coping with a Vacant Rental Property

As property managers, it is unacceptable to us to allow our client’s properties to be vacant. We’re proud of our 99.03% occupancy rate on our managed properties! Consequently, we do everything we can to prevent it from occurring, actively arranging new tenants before the old ones have left. But as a landlord, what can you do decrease the time you have an empty rental? Here are some ideas:

  • Double check the market rent – are you asking a rent price which is too high or too low? Bot can be off-putting to prospective tenants.
  • Change property managers – now is the perfect time to swap to a motivated and experienced property manager. Is it time to fire your property manager?
  • Dress for success – first impressions matter, so ensure that your rental looks great right from the road. Keep the lawns mowed, garden tidy and complete all external maintenance. Also ensure that the interior is clean and tidy too.
  • Offer incentives – can you provide tenants with something extra when they move into your property? A contribution to a rental truck or the lawns mowed for the first six months?
  • Offer plenty of open homes – tenants are time poor! Give them plenty of opportunities to inspect your rental. We hold regular open homes for our clients when they need new tenants.
  • Check your tenancy conditions – consider widening the type of tenant you will accept. Providing a pet friendly rental can certainly increase the number of prospective tenants.
  • Provide additional amenities – could you add a dishwasher into the kitchen? Or perhaps a screen porch out the back? Sometimes it is the little things which attract great long staying tenants.

Of course, when it comes to a vacant rental property, it’s best to prevent it from occurring in the first place. Signing tenants up for long term tenancies is a good start. Providing them with a well maintained, regularly inspected and friendly point of contact is essential. You can achieve this by hiring us as your property manager! Contact us today and discover the Hollie Joss point of difference we bring to our client’s properties.

 

 

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