When your rental property is vacant, it does not generate any income, but you are still saddled with spending money on maintenance and repairs so that the property does not become uninhabitable. Experts in property management Chesapeake, VA have knowledge on how to keep rental properties fully occupied to save property owners time and money. Here are just a few of the ways that you can maintain or increase tenant occupancy at your Chesapeake rental property. Introduce a pet-friendly policy. You will have a larger target market for tenants if you allow pets. You can also charge pet rent to cover any additional fees that may happen with pets on the property. Up your curb appeal. Your rental property should look inviting and attractive. A well-kept lawn, trimmed hedges, well-painted buildings, and beautiful plants make the property look very appealing from the street. The interiors and exteriors should be very clean and neat. A beautiful property will endear most people to it and induce them to rent. Rental Rate Guarantee. If your property is in a highly competitive rental market, then you can offer a rate guarantee for a certain period of time. Work out how much maintenance and other costs you will incur for that period and determine how much rent you can collect for the same period. If it is financially viable, then you can offer the guarantee. It may be better to offer this type of incentive to people with excellent credit scores. They are more likely to be able to pay the rent consistently for the period under consideration.
Property Management Chesapeake, VA: Finding Ways to Fill a Vacancy
By Kyle Stephenson Monday, February 29, 2016
Author
Kyle Stephenson
President and Owner
Kyle Stephenson is the President and Owner of KRS Holdings, bringing more than 18 years of property management experience and decades of hands-on real estate ownership since 1989. Since founding KRS in 2005, he has grown the company into a leading Virginia property management firm. Today, KRS manages more than 4,800 units for over 800 owners. Kyle is a NARPM member and was mentioned in Successful Property Managers, Advice and Winning Strategies from Industry Leaders.





