Alex Vasquez, the owner of Rhino Realty Property Management and Rhino Realty B&B, is a successful entrepreneur, investor, advisor, author and speaker. As summer is in full swing, it is peak rental season and a busy time for landlords. Vasquez advises keeping up momentum and ensuring that day-to-day property management needs are not neglected. Implementing systems, such as maintenance schedules and quick filing systems, can help properties run more smoothly during this busy time.
While it may not be the best time to make big changes, small adjustments and process changes can help keep things organized and less stressful. Marketing efforts can also be ramped up to fill vacancies during the summer. Putting up “For Rent” signs, posting on local message boards, and using targeted social media ads can help reach potential tenants. Incentives, such as local gift cards or a month of free rent, can help to attract people to your property and edge out the competition.
Being proactive in following up with leads and screening tenants well can help ensure that properties are filled with reliable tenants who pay rent on time and take care of the property. With many leases up for renewal during the summer, retaining current tenants can help avoid vacancies. Offering signing bonuses, gifts, or flexibility with rental increases can incentivize tenants to renew their leases. Offering longer lease terms at reduced rates can also be a win-win for both landlords and tenants.
By focusing on filling vacancies before the end of the summer rental season, landlords can make the most of this busy time. Forbes Business Council, a leading growth and networking organization for business owners and leaders, provides valuable resources and opportunities for entrepreneurs like Alex Vasquez. With these tips and ideas, landlords can navigate the peak rental season successfully and ensure that their properties are well-managed and profitable.
