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Tips for minimizing vacancy in rental properties.

By
Real Estate Agent with RE/MAX Centre Realtors

I receive calls for rentals from time to time. I find that some properties rent quickly and some are on the market for long.

Here are some tips for landlords:

1. Make sure the apartment or house is clean. That is the most important thing for prospects. As soon as a tenant moves out get rid of the trash, and the metal hangers in closets and get it cleaned . Pay special attention to the stove and oven.

2.Fresh coat of paint. Paint a neutral color throughout.

3.If the carpet shows wear and tear , new carpeting always helps rent quickly. If the carpet is less than 3 years old, have it shampooed .

4.If the apartment has washer, dryer and refrigerator it is easier to rent out the place.

5.Price it at fair market rent , base it on comparable rents in the neighborhood.

There are many people looking to rent because it is getting difficult to qualify for a mortgage. If you would like to look for investment properties call Gita Bantwal at ReMax Centre Realtors 215-343-8200x124 0r cell 2152758491

visit www.gitabantwal.com and look up 1000s of properties.

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When you read about events please check the year for the event as some people find information a year later and think it is for that year. . The posts remain online even after the event.

Gita Bantwal is a Realtor with RE/MAX Centre Realtors in Bucks County, a Northern suburb of Philadelphia. You can view 1000s of listings on her web site www.GitaBantwal.com

 

She can be reached at 215-343-8200x124 or direct 215-275-8491 or via email gita01@aol.com

If you would like a FREE MARKET EVALUATION OF YOUR HOME IN PHILADELPHIA, BUCKS or MONTGOMERY COUNTY call me at 2152758491

 Gita specializes in Active adult communities and is a Seniors Real Estate Specialist. She holds the ABR designation (Accredited Buyers Representative) and specializes in selling to first time buyers as well as move up buyers.Gita also hold the CRS designation , Certified Residential Specialist and the CDPE designation as well. Information about real estate market is deemed to be correct but is subject to errors and omissions and should be verified independently.. Opinion expressed by me or others  in my post and comments is not to be construed to be  legal advice.I am licensed in Pa. Check real estate laws in your state as they may be different than in Pa.

IF YOU WOULD LIKE TO SUBSCRIBE TO MY BLOG         CLICK HERE   OR EMAIL ME AT Gita01@aol.com

 

Jane Nicastro-Disch Warren NJ
Weichert Realtors - Watchung, NJ
NJ Estates Real Estate Group of Weichert Realtors

Gita: Thank for your info. What vacancy rate are you using in Bucks County? Is it the same for residential and commercial rental's? Regards,

Jan 30, 2010 10:42 PM
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Katie, Thank you.

Frank, Commercial property takes longer to rent. Obviously the above tips are not for commercial property.

Jan 30, 2010 10:49 PM
Loreena and Michael Yeo
3:16 team REALTY ~ Locally-owned Prosper TX Real Estate Co. - Prosper, TX
Real Estate Agents

Gita - My secret tip is to price it $50 or $75 less. Almost all renters are price sensitive more than buyers. That will cause it to be rented much faster.

Jan 30, 2010 11:01 PM
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Loreena, Thank you for the tip.

Jan 31, 2010 12:47 AM
Kristin Johnston - REALTOR®
RE/MAX Platinum - Waukesha, WI
Giving Back With Each Home Sold!

Good tips Gita!  It really is the same for homes too...good basic things for owners to do!

Jan 31, 2010 12:49 AM
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Kristin, Thank you.

Jan 31, 2010 01:04 AM
Michelle Francis
Tim Francis Realty LLC - Atlanta, GA
Realtor, Buckhead Atlanta Homes for Sale & Lease

Gita, 

Great tips in your post.  Vacancies can really hurt the bottom line.  What is critical is that owners realize this and do the smart things to make the property desirable and appealing to lease.  

If owners are unwilling to put their home in good condition, they are not the owners I can help. 

All the best, Michelle

Jan 31, 2010 01:48 AM
Robert Vegas Bob Swetz
Las Vegas, NV

These are some great tips Gita and keep up the great work!

VB ;o)

Jan 31, 2010 02:38 AM
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Michelle, Thank you for the comments.

Robert, Thank you.

Jan 31, 2010 05:24 AM
Gerry Michaels
Glasswork Media Arts - Gettysburg, PA
GettysburgGerry Social Meida

Gita, the rental market has heated up as people have not been able to buy for one reason or another, in the last few days you have posted some good information regarding managing rentals. It is not as easy as some people think it is, thanks for some good info

Jan 31, 2010 09:03 AM
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Gerry, Thank you.

Jan 31, 2010 09:14 PM
Jennifer Fivelsdal
JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571 - Rhinebeck, NY
Mid Hudson Valley real estate connection

Gita these are great tips.  People looking for a rental like a clean apartment and I like your mention of the appliances especially the stove.

Feb 01, 2010 12:46 PM
Joseph D. Federico
MVP Realty - Naples, FL
Southwest Florida Homes with Joe Federico

Gita-Great tips and a great blog for the rental market which is very tough.

Feb 01, 2010 02:33 PM
Ray Saenz
Exit Realty Laredo - Laredo, TX
Homes for Sale in Laredo, TX - Texas, Realtor

Gita,
Great tips for landords, rental market seems that is going good on your side :) take care and keep the good blogs

 

Feb 01, 2010 03:49 PM
Not a real person
San Diego, CA

And when you get tenants in there, treat them like people. A little respect by the landlord can go a long ways toward having long-term tenants.

Feb 01, 2010 08:33 PM
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Joseph, Thank you.

Ray, I hope landlords will read this post.

Russell, I am fortunate that most of the tenants I place become long term tenants and move when they are ready to buy..

Feb 01, 2010 09:34 PM
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Jennifer, Tenants forget to clean the stove and oven when they move out and  it is difficult to clean sometimes.

Feb 01, 2010 09:35 PM
Charles Stallions
Charles Stallions Real Estate Services - Pensacola, FL
850-476-4494 - Pensacola, Pace or Gulf Breeze, Fl.

Hi Gita, so true and long term tenants are the best. We will have our first home to go over 30 days vacant in 6 years on the 10th if I cannot get it rented. Normally we have a pool for each home but this one has had a tenant for 3 years and we thought they were going to stay but a transfer just came in for him.

Feb 03, 2010 11:13 PM
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Charles, You are a good property manager. If you lived in New Jersey I would have referred people to you.

Feb 04, 2010 07:15 AM
MichelleCherie Carr Crowe .Just Call. 408-252-8900
Get Results Team...Just Call (408) 252-8900! . DRE #00901962 . Licensed to Sell since 1985 . Altas Realty - San Jose, CA
Family Helping Families Buy & Sell Homes 40+ Years

Gita provides great tips to minimize costly vacancies here.

Mar 12, 2013 12:51 PM