Cleaning and preparing an apartment for a new occupant on the first of the month after an old lessee moves out on the 31st is nearly impossible. You inevitably lose a month's rent as you prepare the apartment for the next tenant, right? Not always.
There are three strategies to reduce the amount of rent you lose between tenants.
1.Ask your current tenant to move out early. Provide them with reduced rent for the month as an incentive to leave a week or two before the lease ends. This gives you some time to prepare the apartment, while still allowing your new tenant to move in on the first of the following month. Instead of a month's rent lost, you lose a week or two.
2.On the flip side you can ask the new tenant if they can move in a week or two later. Discount the first month's rent to give you a week or two for any work that needs to be done. You may find several tenants love the idea of beginning a lease on the 15th of the month. Many same-town renters will do this to avoid having to move out of an old apartment and into a new one in one day. Also, if renters are overlapping their rents to allow an easier move, they would probably prefer to pay both rents for only a half month instead of a whole month.
3.Offering a 12 and one-half month lease is another way to cut your losses in half. Rather than waiting until the last minute and offering current or future tenants rebates on rent to change their schedules, plan ahead and write it into the lease. This way, your tenant is prepared to move out in the middle of their last month, and you are assured a small cushion between tenants.
Though these are excellent ways to minimize losses during tenant turnover, the best method of reducing rent loss is to retain tenants. The longer tenants stay, the less vacancy losses you will incur. AND THE MOST IMPORTANT THING YOU CAN DO IS TO
List your vacancies with us - FREE!
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The only calls you will receive are from potential tenants wanting to schedule appointments and from our staff presenting offers of intent. We will present you with complete tenant information and a current credit report on the prospective tenant. The final decision on which applicant you choose is your and yours alone.
Our only request is that you notify us as soon as possible if the property has been rented.
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Wishing you a many "No Vacancy" Months!
Mary
Rent San Diego Properties
