How Can North San Diego Property Managers Minimize Vacancies?

Vacancies are expensive, whether you’re renting out a single-family home in Oceanside or a commercial property in Carlsbad. The cost of an unoccupied property is high – it’s money that can never be earned back. This doesn’t only damage your cash flow, it hurts your long term ROI.

At North San Diego Property Management, we’ve spent years managing multifamily and commercial properties in the North County area , including in Oceanside, Carlsbad, Vista, San Marcos, and Solana Beach.

There are a few things you can do to reduce your risk of long vacancies and ensure your properties are always occupied with good tenants who pay rent on time and follow the terms of the lease agreement. We’re sharing some of that advice today.

When your property is something that tenants will be eager to rent, you’ll have an easier time avoiding vacancy. Make sure it’s clean, functional, and attractive to the types of tenants you’re hoping to reach. A condo near the beach should come with amenities and a single-family home in a suburban neighborhood will rent faster with a yard. City apartments will not stay vacant long when parking is included. Before you show your property, have it cleaned professionally and make some simple updates and upgrades that will really grab a prospective tenant’s attention. Think about a fresh coat of paint, new floors, energy-efficient appliances, or upgraded landscaping.

One of the most common reasons that properties don’t rent quickly is that they are priced outside of what the market supports. No one wants to underprice a rental property. It will result in you earning less than you should and constantly playing catch-up with rental increases. But, listing it for a price that’s too high can be just as expensive for you because it can extend your vacancy period. Tenants are smart and knowledgeable; they know what your property is worth, and they won’t pay more than they have to.

Take the necessary time and do the necessary research to gather data on what similar properties are renting for in your area. Make sure you understand how they compare to yours, and price your home in a way that reflects what you have to offer in your local market. A home that’s competitively priced will rent quickly, and you’ll avoid the cost of extra weeks and even months of vacancy.

When you respond promptly to inquiries and questions from tenants, you’ll reduce your vacancy as well. Don’t wait days to call a tenant back; they will already have moved on to the next property. Be responsive and schedule showings. Then, you’ll get your property rented quickly.

We work hard to rent out your property to the best tenants, for the most money, and in a short period of time. If you’re struggling with vacancy, contact us at North San Diego Property Management.