How to Speed Turnaround Time on Vacancies
How to Speed Turnaround Time on Vacancies
Abstract
The longer your property remains vacant, the more it can impact your bottom line over the long-term. Start Advertising Early Most rental leases require that a tenant offer a 30-day advance notice of his or her intent to vacate the property. Keep in mind, the unit is still occupied and off the market during those final 30 days so it may be tough to actually show the property to prospective renters. Be up front about what you expect from a prospective tenant so potential applicants know what to expect when they come to view the property. You may lose a few prospects who are looking for features your property may not provide, but it helps to avoid wasting your time and theirs. Once the tenant has completely vacated the premises and returned the keys to you, get your maintenance and repair crews into the property as quickly as you can. Ari Chazanas is the Founder and Chief Executive Officer of Lotus West Properties, a boutique property management firm based in West Los Angeles.