Vacant Rental Property?
How a Property Management Company Can Help
Is your rental home currently vacant? Not 100% sure how you went from collecting rent each month to worrying about finding quality tenants for your rental property? Take a look at how a property management company can help with vacant rental properties by being proactive and taking the necessary steps to make sure a tenantless rental property never occurs.
A helpful, proactive team working for you
When you hire a property management company, you are assigned a specific person to oversee the proper running of your rental property. The individual is there to deal with tenant concerns, keep you abreast of all things happening to your home, and deal with maintenance and repairs. The property manager is also there to help when it comes to vacancies and to support you in the following ways:
- Monitor your lease expiration dates
- Notify the tenant of the lease expiration and gather information in regards to their intentions
- Provide opportunities to renegotiate the rent on a renewal basis
- If the tenant chooses not to sign the lease again, the individual will help with the move-out process
- Market/advertise the unit with your target audience (renter) in mind
- Screen future tenants that may apply to live in the unit
Hold your current tenant accountable
If the tenant chooses to vacate the rental property, the unit must pass a thorough check-out inspection before the security deposit is returned. This inspection minimizes the preparation and turn-around time to re-lease a rental property. A property management company will conduct the inspection, make sure the tenant has removed all furnishings and other personal belongings, and address any concerns that may arise. The ultimate goal of a property management company is to list your home, if needed, roughly 45 days from the end of any lease to avoid any vacancies.
A network to pull from when vacancies occur
A property management company can help with a vacant property due to their expansive network and reliable resources. Not only do they have years of experience in the industry, but they also have a group of individuals who they can pull from when it comes to renting the property. From people looking for a rental property for their clients and employees to past tenants, a property management company can easily get the “word out” and get results.
Help market and advertise to find a new tenant
A property management service is able to create a multidimensional advertisement plan that takes into consideration: online marketing, word of mouth, and other more traditional avenues to advertise your rental property. A property management service will be able to find and place a high-quality renter into your home quickly because they understand what avenue works best when it comes to advertising and marketing.
A property management company has policies in place that ensure that you and your tenants are happy and taken care of each step of the way. With this positive renting environment comes the retention of quality tenants. When a property management company is there to manage the daily issues and concerns, the homeowner and renter feel like their needs are taken care of, and everyone in the equation feels like they are a winner!
Ready to hire a property management service?
If you aren’t the kind of person who wants to deal with the prospect of a vacant rental property, it may be worth your time to contact a property management service. At Oak City Properties, we work with you each step of the way when renting your property. Our full management property service will market the property, locate prospective tenants, and show the home. Once a tenant is placed in your rental property, we will: collect rent payments, assess and collect late payment fees, provide 24/7 maintenance, help with accounting/tax services, and deal with any court appearances in the event of an eviction.
If you are interested in learning more, give us a call at (919)-232-9222 or check out our website: http://oakcityproperties.com
Want to read more about property management services? Here are a few blogs that may interest you: