If you are like most landlords, you dream of filling a vacancy as quickly as possible. However, as you try to put someone into your empty properties, you may ignore the proper screening processes. Without going through a proper screening and interview process, you may end up with tenants that will give you a lot of headaches.
As a landlord, you would want to avoid evictions as much as possible. This process can take months and you may not collect any rent during this period. Therefore, you must not discount the long-term benefits of taking your time to put a quality tenant in your rental property. In this process, it is in your best interest to hire an expert in Glendale property management who will screen tenants for you and manage all aspects of your property.
Aggressive Marketing to Fill Your Vacancy
If traditional marketing is not working for you, there are many marketing solutions you can try. For instance, you can encourage your other tenants to spread the word about your vacancies. Consider giving referral bonuses if they do, like giving a discount to the next month’s rent. Make sure you place signs in front of your rental to grab the attention of local traffic.
In this digital age, you should take advantage of the power of the internet in spreading information. Try to make your vacancy known on social media or visit websites that let you post rental property listings for free. Free online classified and other listing websites are also available. Most importantly, a local property management company can take over duties of marketing your vacancies and other landlord tasks.
Make Your Rental Accessible to Section 8 Housing Applicants
People who qualify for this Housing Choice Voucher Program of the government have a very low income and get help to afford their rent. In this program, the government pays anywhere from 33% to 75% of their rent. But, before you decide to open your rental to this program, make sure you fully understand it and how it may work for their rental. Under this program, you only get paid if your property has been inspected and approved. Some of the benefits of this option is guaranteed rent, low-priced marketing, possibly higher rental rates, long-term tenants, and shorter vacancy periods.
A great property management professional will not try to fill your vacant rental property in a rush because they know how stressful it can be. Also, this could mean cutting corners to move the process along quickly.