5 Ways to Keep Your Property Occupied – and Money in Your Pocket
by Niman Singh
Many property managers, landlords and real estate investors forget that in order to succeed in rental property business it is important to keep your rental properties occupied.A residential rental property with high occupancy rate not only puts more money in the pockets of owners but it also significantly increases the value of the residential rental properties. So there is significant incentive to keeping properties occupied and increasing the cash flow of the property.
1. Property Manager is monitoring the local rental market and adjusting rents and incentives
2. Ensuring that property has curb appeal so that it looks better than its competition
3. Keeping up the property and responding to maintenance requests quickly
4. Respecting tenants privacy
5. Fair and consistent rules, policies and their enforcement
In a competitive rental market, attracting and retaining tenants is key to success in residential rental business. In order to improve your property management, follow these 5 well known secrets and you will be putting more money in your bank account.
Niman Singh is with TReXGlobal, the makers of Simplifyem Property Management Software.
See our series Crucial Tax Tips for Landlords, provided by TReXGlobal.com.
American Apartment Owners Association offers discounts on products and services related to your commercial housing investment, including real estate forms, tenant debt collection, tenant background checks, insurance and financing.
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