One of the biggest challenges that many landlords face is keeping properties full all year long, even during seasons where there might not be many people looking to move. Whether your slow season is winter or summer, there are many different ways to keep your rental properties full to ensure that your income from rental properties in Aurora, Ken Caryl, Highland Ranch, Greenwood Village, South Denver, Englewood, and Lakewood is steady.
4 Ways to Keep Your Rental Properties Full
- Set the Right Rent: The right rental price is essential to minimize vacancies and get maximum exposure. If your property is priced significantly higher than surrounding properties without a good reason (like extraordinary amenities, utilities included, etc.), you might have more trouble when you try to keep your rental properties full. The right price makes it easy to turn inquiries into new tenants and applications.
- Choose the Right Tenants: Another key piece to keep your rental properties full is choosing the right tenants. One national study found that 54% of apartments turn over every year. Retaining good tenants is hard work, but it can dramatically reduce your turnover rate. Screen applicants thoroughly and encourage your tenants to sign longer-term leases to keep the property full for longer.
- Seek Out Long-Term Renters: If you find that offering month-to-month rent at a higher monthly rent cost can’t cover costs for the months that the property sits empty, it might be time to consider offering longer-term leases only.
- Make Good Repairs: Repairs are a key piece of why some renters are quick to move on after a short lease. Are you responsive? Do you fix the problem the first time? Working with a property management company can ensure that maintenance issues are dealt with in an efficient fashion to help keep your rental properties full. When residents feel important, they are much more likely to stick around.
Keep Your Rental Properties Full with All County Denver South Property Management
All County Denver South Property Management is here to help property owners get the best return on their investment through knowledgeable and trustworthy property management services. From managing tenant relationships to lease enforcement, we look forward to working with you to see how your investment can be a long-term, stress-free asset. We work with landlords throughout Lakewood, Englewood, South Denver, Greenwood Village, Highlands Ranch, Aurora and Ken Caryl. For a complimentary quote, call us today at (720) 664-4550.