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How to Minimize Rent Ready Costs & Vacancy Time on Your Miami Investment Property

Renting your property quickly for the most money to a great tenant is a terrific way to begin your leasing experience. When you’re preparing the property for the rental market, make sure you have that goal in mind. You want to get it rented quickly, and there are a few things you can do to ensure your vacancy time and marketing costs are minimized.

Get Professional Leasing Help

The smartest thing you can do is to outsource your leasing to a professional who knows the market and has the resources to find and place an excellent tenant. Even if you’re planning to handle the day to day management on your own, use a property manager or a leasing service to find the right tenants. If you can only show your property on the weekends and you’re not sure how to check a credit report or access eviction records, your process will suffer and your vacancy will last longer. Put a professional to work for you; it will save you time and money.

Evaluate the Rent Ready Needs

When your current tenants give notice that they plan to vacate, schedule a time to visit the property so you can take a look around and evaluate the work that needs to be done. If you see the condition of the home, you’ll be able to schedule painters and carpet cleaners. You’ll also be able to prepare for any updates or repairs that will be needed before a new tenant moves in. If you’re proactive with this piece, you can get your property turned over in a matter of days.

Price Your Home Correctly

If your home is in a desirable location and well-maintained but you’re not getting a lot of interest from qualified tenants, it might be priced too high. When you price your property too high, the best tenants will look elsewhere. The only people willing to overpay for a home are those who are getting rejected everywhere else. Study the other homes on the market that are similar to yours, and price your home competitively. It will ensure you get it rented fast to a well-qualified resident.

Make a Strategic Marketing Plan

You need to advertise aggressively so that your home receives the maximum amount of exposure. Make sure your listing includes professional photographs and video, if possible. Provide all the necessary details, including the size of the home, the price of the property, and anything extra, such as recent upgrades or other benefits. When people inquire about your home, be responsive and answer them immediately. Schedule showings when it’s convenient for your prospects, and follow up by asking them if they’d like to apply.

To rent your home quickly, you have to be prepared. You also have to price it well and market it strategically. Get help from a reliable and experienced property management company. If you have any questions about how to rent out your home, please contact us at Real Property Management Dade. We’d be happy to help you.

 

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