If you want to make a solid income from your rental properties, using good strategies is vital.
Your profits only roll in while properties are occupied, so you want to keep vacancy rates to a minimum. There are different rental leasing strategies you can implement, so it's important to know your options. Carefully thinking about your approach will help you maximize your overall profits.
Let's go over some key property management strategies that will help you reduce your vacancy in Council Bluffs, IA.
Invest in Marketing
If you want to remain competitive in the Council Bluffs rental market, you need to market your properties effectively. Doing this will help get a lot more eyes on your properties.
Start with professional photographs. These will catch the eyes of users when they're scrolling through listings.
Next, ensure your listings contain all important information. Details that renters will look out for include:
- Location
- Property size
- Property age
- Number of rooms
- Nearby amenities
- More
It's often worth making use of various channels. Beyond standard property listing sites, you could use social media or even create your own website.
Screen Applicants Thoroughly
While marketing can help you attract a lot of applicants, you shouldn't accept just anyone. You should screen applicants to make sure you get quality tenants.
This involves looking for any red flags such as a history of:
- Criminal activity
- Property damage
- Unpaid rent
- Legal problems with landlords
All of these are things you want to avoid. Through tenant screening, you can find tenants who haven't caused major issues in the past and will therefore be less likely to do so in the future.
Quality tenants are also likely to be interested in staying in one place for longer. You shouldn't need to worry about finding new tenants too often.
Keep Good Tenant Relations
If you keep an open line of communication with tenants, they'll be able to bring up any concerns or questions with ease. If they're happy with their living situation, they'll be less likely to want to leave. An online portal can be ideal for this.
Maintain Your Properties
It's vital that you keep your properties in good shape. Conduct routine inspections and set up a regular maintenance schedule. If you find any issues, deal with them as soon as you can so they don't grow into larger problems.
Keeping a property in good shape will help significantly with tenant relations. It will also help support the value of it and you'll have a much easier time finding new tenants when you need to.
Hire a Property Manager
A skilled property manager can implement the most effective leasing solutions to help keep your properties occupied. They can oversee a range of tasks such as maintenance, marketing, tenant relations, and more.
Professional Rental Leasing Services
A reliable property management company can help you with rental leasing so that your properties stay occupied and the profits keep rolling in. PMI of the Midlands is a full-service real estate asset management company serving Council Bluffs, IA, and the surrounding communities.
We have years of experience and use state-of-the-art technology to ensure we always provide the best level of service. Take a look at our property management page for more details on what we do.
