Fast Forward Property Management, located in the San Francisco Bay Area, is offering three tips to property owners on how to fill vacancies.
Owners and property managers invest a great deal of time and money to attract and maintain high-quality residents, said Jade Powell of Fast Forward Property Management. High vacancy rates can quickly turn a highly profitable investment property into a money-losing liability. When a tenant leaves, you lose money by not being able to collect rent and can spend a considerable amount of time and money painting, repairing, cleaning, and advertising your unit.
Fast Forward Property Management offers expert advice for those in the Bay Area, Sonoma County, San Francisco, Sacramento, San Jose, and Santa Rosa looking to fill their vacancy with a new tenant.
The following three tips should be considered by property owners:
First, place banners and signs around the property and launch ad campaigns online and with other media outlets.
Second, work with real estate sales professionals to develop referrals. Real estate sales professionals are a great source because many people go to them for listings, especially those new to the area, so it is wise to build a business relationship with them.
Finally, offer $150 to $250 to any tenant who refers someone that is approved for a lease. This provides motivation for current tenants to be on the lookout for new tenants, minimizing the amount of time and money spent by the property owner searching for someone to fill the vacancy.
These are great suggestions that every property owner should bear in mind to maintain successful rental properties.
For more information about property management, and all services provided by Fast Forward Property Management, visit them on the web at http://www.FastForwardPMBayArea.com or call them at (877) 388-0998. See a related post, The 4 Most Common Landlord Legal Mistakes.
American Apartment Owners Association offers discounts on products and services for landlords related to your rental housing investment, including rental forms, tenant debt collection, tenant background checks, insurance and financing. Find out more at www.joinaaoa.org.