Property Management – West Hills – Vacancy
5 Tips To Help Reduce Vacancy Cycles
1. Start your lease renewal process at least three months prior to the lease expiring.
This helps to ensure a further term is secured for both the landlord and leaseholder with plenty of time before the lease expires. This guarantees that the landlord has plenty of time to secure a new tenant should the current tenant decide not to renew for another term. This also allows enough time for you to provide ample notice to the tenant to vacate should the landlord not wish to renew or this also provides ample time to negotiate any rent increase.
2. For new leases, get them signed as soon as the tenant accepts.
It is always important to have the lease signed as soon as possible after acceptance of the property bytenant and property owner. We suggest 24 hours to ensure the tenancy is secured and to provide the necessary assurances to both tenant and landlord. Get the lease signed within 24 hours rewards both the agent and the landlord. This enables the property owner to reduce the loss of rent while the property is still vacant.
3. Make lease signing easy.
Your leasing process should be simple and streamlined. It is just as important for both the landlord and the leaseholder to secure a lease on a property promptly. When terms are clear and simple, everyone enjoys peace of mind. It is common sense and good business practice to ensure tenants understand their agreements in their entirety and the time frames for final decision-making.
4. A little incentive can go a long way.
Having the tenants commit to signing a lease quickly gives them the security of knowing they have landed a property.
5. Describe the rental market to tenants who delay their decision-making.
Supply tenants with market research on why the property is a great value. Educate your clients about what may or may not happen in the market to get them thinking that the more convenient, less expensive option is simply to renew.
Carnahan Property Management services Woodland Hills,West Hills, Calabasas, Canoga Park, Tarzana, Reseda, Topanga, Encino, Northridge, Van Nuys,North Hills,Chatsworth, Sherman Oaks, Studio City, North Hollywood, West Hollywood, San Fernando Valley, Granada Hills, Mission Hills, Simi Valley, West Lake Village, Agoura,Toluca Lake, Valley Village, Burbank. Call us at (818) 884-1500 and check if we can service your area.
