Leasing Your Property FasterVacant Rental Properties affect your overall annual income. For every week that your property is vacant your annual return is affected! Therefore if a property is vacant, or becoming vacant, there are several strategies you can implement to keep vacancy to an absolute minimum- it’s all about price and presentation! In the next few weeks we will show you how!
1. Leasing Your Property FasterRight Rental Price
Everyone wants to get the best dollar they can for their investment property. However for every week it is vacant it reduces your annual income return by 2%! That’s a huge loss! Have your property appraised by an experienced property manager who knows well your locality, and knows how to get the best market rent without pricing you out of the market!
2. Leasing Your Property FasterFront Presentation
Ensure that the presentation from the front is inviting. Tend the gardens, mow and edge the lawns. Clean the gutters, clean the windows, sweep the paths and freshen up the paintwork if it is old and peeling. Concentrate on presentation as seen from the street. Don’t turn a good tenant away before they get to the front door!
3. Leasing Your Property FasterBasic Repairs
See that the basics are looked after. Repair/re-seat leaking taps, shave sticking doors, replace broken light fittings and light globes, seal leaky gutters and replace torn and missing flyscreens. Replace broken cupboard door handles, repair damaged rollers on sliding doors. These things may be seem minor issues to you, but may make a big deal to a lot of tenants!
4. Leasing Your Property FasterRemove Odours
Rid odours that you may not notice but your prospective tenant may pick up. Cigarette smells and pet odours will turn good tenants off your property. Consider getting the carpets and curtains deodorised as well as properly and professionally cleaned. This may work out cheaper than a long vacancy period!
5. Leasing Your Property FasterViewings
Don’t show your property during darker hours but only when the property is well lit. Open curtains and blinds, turn on the lights and brighten up the rooms. Spray air-freshener before your prospective tenants arrive. It’s the finer touches that attract the right tenant. If your property is close to noisy roads only show properties at non-peak hour time slots