If you’re like most Fort Worth rental property owners, the turnover period is not something you look forward to. It’s expensive, and the vacancy can often stretch on longer than expected. You want to find a new tenant quickly, and get your rent coming in again.
There are some benefits to those vacancies, however. The gap between tenants can provide you with an opportunity to make some upgrades, rethink your rental value, and refresh your marketing strategy.
When you’re renting out a short term rental property or a seasonal home that comes with a lease period of a few weeks or months, you likely find yourself dealing with these unoccupied periods more often. Try these tips that we have for filling gaps and vacancies between guests in your rental property.
Invest in Maintenance and Renovations During Gaps and Vacancies
When your property is not occupied with tenants, it’s an ideal time to get some work done.
Whatever maintenance and updating you’ve been meaning to do, these gaps between guests are an excellent time to do the work. Steam-clean the carpets if you have them. Get your cleaning crew inside the property to scrub the appliances. Re-caulk the grout in the bathroom, between tiles and around faucets. Refresh the linens in a short-term property and give the landscaping a refresh.
Take a look at your calendar and see where you can expect some downtime. This will enable you to tackle larger projects. Maybe it’s time to replace some appliances or drain the water heater. You don’t want to do these things while tenants are in place; it’s much better when you have the time and space that comes with turnover periods.
Put Some Time and Resources into Marketing
When your property is empty, you know you’ll have to begin marketing eventually. It’s the only way to let prospective tenants know that your home is available. To rent.
A new marketing strategy or some fresh marketing photos can help you attract better tenants. Good marketing can limit your vacancy time and increase what you earn. We recommend you use this time to:
- Take new marketing photos.
- Write new descriptions.
- Investigate new rental sites that may be earning more traffic than the usual suspects.
- Look for new ways to get the word out about your property. Maybe it’s social media or introducing yourself to a relocation company in Fort Worth.
It’s also a good time to touch base with all of your former guests. Do you have a newsletter or an email that you send out once in a while? Send along the new photos you took so they know about the upgrades and improvements you may have made. This is especially useful for vacation or short term rentals.
Evaluate the Fort Worth Rental Market and Check Your Pricing
Inflation has been driving up the cost for everything, including rental properties.
Evaluate the current rental market so you can decide how your rental home fits in. Are your rates competitive? Are they high enough? This is an ideal time to make any adjustments that may be necessary.
Conduct a market analysis. You always need to know what the competition is doing to make sure your rates are attractive to your targeted seasonal guests.
If you’d like additional tips, please contact us at Trend Property & Management. We’re here to help with all your Fort Worth property management needs. We also serve Keller, Saginaw, Hurst, Weatherford, and the surrounding areas.