As a property manager, there are many issues you might face; but primarily a rental management company Tampa usually faces two major ones: filling vacancies quickly and reducing them in the first place.
There are, however, steps which could be taken, to solve both these problems. Vacancies are mainly impacted by the following factors:
- rent amount
- levels and types of incentives offered to tenants
- lease terms and deposit amounts
- services and amenities offered to new and existing tenants
The main thing a property manager could do is to maintain the property and perform timely inspections which can help the property appear attractive and alluring to potential tenants. Timely inspections have dual benefits, in that, they can help you fill vacancies quickly and also help you avoid financial losses in the longer run.
Vacancy handling also involves staying abreast of regional trends and tenancy laws. For example, one can log in to Craigs's List and similar websites to determine the rent other properties are charging new customers. This will give you means of deciding upon appropriate rental rates.
Additionally, you can keep vacancies in check by staying in touch with existing tenants. Property Management software can help in this aspect, as one can have tenant forums where issues can be raised. Quick handling of these can help you keep existing tenants happy.
