There are many variables when it comes to rental properties. You may be wondering why some of your rentals get snapped up quickly by eager tenants, while others seem to sit vacant for weeks or months. Overall, it comes down to supply and demand as well as competition in the housing market. If you are having problems renting out your properties, there is probably a good reason for it. For help in rental management, Medford property management companies can help get your rentals tenant-ready and find qualified individuals to live in your properties. In the meantime, learn why your rental property may be experiencing long-term vacancies.
Rent is too High
It is important to set a fair rent rate to attract potential tenants. If you want top dollar for your rental properties, it is crucial to have a high quality rental. Compare rent rates in the neighborhood to determine adequate rates. The condition of the rental, what appliances are provided, and a number of other factors should also be considered when setting a rate.
Lack of Advertisement
If people do not know your property is available, it will not rent. It is important to advertise in places the majority of people search when in need of a rental property. The Internet has become a go-to place to look for rentals due to convenience. Also, do not overlook the value of a simple “For Rent” sign in the front yard, as this can also attract potential tenants.
Property Faults
Some rental properties are just not up to par. When you hire a rental management company to take care of your day-to-day rental tasks, they will be responsible for your rental properties between tenants. Privacy, cleanliness, and security are major factors many tenants take into consideration when looking for a rental. New carpets, air conditioning, and fresh paint are important aesthetics that can catch the eye of paying tenants.
Real Property Management Charles River aims to provide property owners with affordable property management services. Backed up by a team of highly skilled professionals, RPM Charles River offers advertising and marketing strategies as well as other tools to maximize your monthly rental revenues.
