If your current tenant has provided you with a notice to leave, it’s a good time to start looking for a replacement. The sooner you begin searching for a new tenant, the less time your Brevard County rental property will sit vacant.
Of course, most prospective tenants want to view a rental property before they sign a new lease to move in. When a rental property is still occupied, it can prove challenging to show potential new tenants. However, there are several advantages to showing an occupied unit, and in this article, we’re going to discuss why and how you can do it successfully.
Advantages to Showing an Occupied Rental
Limit Vacancy Periods
The most significant advantage of showing your rental property while occupied is that you can reduce the amount of time it remains vacant. With a smooth transition of tenants, you can continue to pay your mortgage, earn a passive income, and take care of any maintenance issues that might crop up. Put simply; you can maximize your ROI and limit potential losses.
Offset Maintenance Costs
Even vacant properties have utility bills. In Florida, turning off the utilities in your Brevard County rental is simply not an option — especially during the summer when humidity is high. If you can find a tenant to rent your unit as soon as possible after the current lease ends, you can save money on utility costs.
Show Prospective Tenants Potential of Space
Furnished and staged rental units enable prospective tenants to see how best they can use the space. This is especially true if the furnishings help potential tenants visualize themselves living in the rental property.
How To Show an Occupied Rental Unit
When showing an occupied space, it’s essential to be mindful of your current tenants. Here are some tips that you can use to make the process of showing an occupied rental unit as easy as possible.
Communicate with Your Current Tenant
Before marketing your rental unit, it’s essential that you reach out to the current tenant and let them know that you’re beginning the process. You should use this opportunity to clearly communicate any expectations or requests you have for the showing process. For example, you may want to ask the tenant if a property manager can enter the property to show it on your behalf. Alternatively, you may want to ask the tenant if they can leave the property when showings are scheduled. It’s crucial to discuss these things beforehand to facilitate a mutually beneficial agreement.
Give Notice Before Showings
Be sure to give your tenant as much time as possible to prepare before potential showings. This will ensure all parties have ample time to create a plan and determine an alternative if needed. Remember, communication is vital when coordinating showings in an occupied rental unit.
Make Showings as Convenient as Possible
If it works for your tenant, try combining multiple showings or scheduling multiple showings on one specific day. This will help to reduce the frequency of showings and disruption to your tenant without missing out on potential showing opportunities.
Finding a Tenant for Your Brevard County Property
There are many challenges and intricacies involved in managing a rental property. With years of experience and knowledge, Rent In Brevard Property Management enables landlords to manage their rental property portfolio effortlessly and protect their investment. We are dedicated to providing reliable, high-quality service to our clients. Contact us today to discuss your property management needs with one of our licensed property managers.