When a rental home sits empty, its owner pays the price. Not only do they cover the costs of maintaining the property through mortgage payments, taxes, and utilities, but they also miss out on the monthly profit they’d earn when the home is inhabited. That’s why investment owners want to fill vacancies as quickly as possible. One of the most common questions new clients ask is, “how do I rent my home faster?” In our experience, the fastest way to rent a new home is through proper management and consistent maintenance. Without addressing those two factors, investment owners will always be playing catch-up.
Rent My Home Faster by Making Smart Improvements
In a recent post on the Rent Portland Homes by Darla Andrew YouTube page, Jessy Sperry, our maintenance supervisor, described how our construction and maintenance team can help rental homeowners make improvements in-between tenants. It’s impractical (if not impossible) to make major renovations while a tenant occupies your rental home. The disruptions would be too severe for the tenant’s life, and coordinating the work would be a time-consuming nightmare. Of course, doing repairs and renovations between tenants means your home will be unoccupied for longer. However, by treating your repair and maintenance tasks as a regular part of doing business, and preparing for these delays accordingly, you can earn more profit in the long term.
Don’t Ignore Important Maintenance and Repairs
Homes that go too long between repairs and updating, eventually begin to show their age. As a result, owners can no longer compete with newer, more well-maintained homes. Before long, you’ll have to lower your monthly rental rate to attract new tenants. Over the long term, you’ll lose out on thousands of dollars of revenue that would more than recoup the money you lost during the short-term maintenance period. Fortunately, our team includes a group of in-house handymen who can help owners make necessary repairs between tenants. We also have connections with hundreds of trusted vendors who can handle more extensive repair and remodeling projects.
Whenever a home is approaching a tenant turnover, Jessy will contact the owners with a list of update recommendations to help them command top-dollar for their investment. Jessy will also provide estimates for each recommended project and manage the project to the owner’s satisfaction. These repairs can encompass everyday wear-and-tear items like painting, backsplash repair and caulking toilets, tubs, and sinks. We can also help with more complicated projects like carpeting or LVT flooring replacements.
Some owners use a short-term vacancy to tackle more ambitious projects like building new fencing, repairing decks, or updating kitchens and bathrooms. By planning for these maintenance and repair tasks in advance, owners will ensure their investments will always be in their best condition. Well-maintained homes will always command top dollar and send more revenue into their owner’s pockets.
Rent My Home Faster by Partnering with Excellent Managers
Of course, even the most beautiful rental home in the world could lose money if it were poorly managed. That’s why investment owners should carefully choose their property management partners. Rent Portland Homes by Darla Andrew clients receive top-notch advice from a team of industry experts. We’ll advise you on everything from rental rates, important updates, regular rental increases, and other critical areas of focus that will allow you to get as large a return as possible from your investment. Without that sound advice, you’ll be making decisions in the dark or, worse, overlooking important rental home ownership aspects.
But we offer more than just advice. Our homeowners also receive a full-time partner that handles every aspect of rental home management. It begins with marketing your rental homes on social media and other home search platforms. We then screen every applicant to ensure they meet our rental criteria. Once we’ve found the perfect tenant, we prepare the lease and schedule a move-in date. But, before the new tenant receives their keys, our team conducts a thorough walkthrough that documents your home’s condition in minute detail through pictures and a written narrative.
Every month, we collect rent and issue payments to our clients. We store all financial documents, including rental receipts and 1099s, in our online management software. When repair needs arise, our team is always available to complete the work within 48 hours or less. All our owners also can conduct the work themselves, as long as it’s completed in the same 48-hour window. Whenever a tenant moves out, we recommend and make necessary repairs, and the process begins again.
Contact Us Today to Learn More
Unfortunately, too many people forego the benefits of real estate investing because they don’t want to deal with all the hassles that come along with owning a rental. However, there’s no quicker way to realizing the promise of passive income than through investment property ownership. Rent Portland Homes by Darla Andrew can help make this experience pleasurable and hassle-free. If you’d like to learn more, you can call or text Darla directly at (503) 515-3170, or you can fill out the contact form on our website, and we’ll get back to you right away. By working together, you’ll never again have to ask, “how do I rent my home faster?” Instead, you’ll enjoy great tenants and the maximum return from your property investment.