The more your rental property stays occupied, the better your ROI will be. However, as seasoned landlords know, it’s not always easy to find and keep quality tenants. Here are a few suggestions that might help keep your vacancies to a minimum and maximize your profits.
1. Advertise
Taking time to advertise your rental in the right locations can make a huge difference in your vacancy rate. It’s helpful to put ads in the newspaper, on websites, and on apps. It’s also very helpful to include a detailed description of the property and some of your rules and regulations; the more specific, the better. Including high-quality pictures will allow prospective applicants to be able to see if it’s a right fit for them or not.
2. Make it attractive
If your property looks good, it will draw the attention of prospective tenants a lot more often than if it doesn’t. Interior upgrades, such as freshly painted walls, clean carpet, and good lighting, are generally very important to tenants. It’s also a good idea to keep up with the landscaping and exterior wear of the home.
3. Modern features and amenities
Most tenants want a place with convenient features and amenities. Having a laundry facility or washer/dryer hookups is usually appreciated. Features like LED lighting, a security system, or high-efficiency appliances, are not necessarily things that tenants are expecting to find in a rental, so they really help your property stand out above other options.
4. Make updates
Replacing older items with newer ones is a great way to help make any rental property much more enticing. You’ll want to get rid of some older appliances and replace these with newer devices that may work more effectively. For instance, if you have a heating and cooling system that’s simply too old to work well any longer, consider replacing it. It’s also a good idea to do this with stoves/ovens, dishwashers, and refrigerators. This may be expensive but will be well worth it in getting new tenants.
5. Contact Specialized Property Management Dallas
Free yourself from the hassle and burden of managing your own property or the hassle of working with sub-par property management companies. Put our 30+ years of experience managing properties in the DFW area to work for you today!
Why Specialized Property Management Dallas?:
- 100% Satisfaction Guarantee, No Hidden Fees
- 98% Customer Satisfaction Rating
- Lowest Eviction Rate in DFW (<1%)
- 95% of Vacancies Leased in Under 29 Days
- Listed #1 of 270 Property Managers
“We highly recommend the services of Specialized Property Management, they do a great job. They are quick to respond in most all the issues we have inquired about. With us being in a foreign country, that is very important to us.”
“They are my first experience working with a property management company. I won’t go elsewhere. From start to finish they have been great. And we’re not finished yet! I am very happy with the service and can think of no improvements.”
