How do I fill a vacancy quickly?

Central NJ Property Management - We like to focus on some key areas as follows:

1) Maintain open dialogue with your tenants - needless to say...it helps to fill a vacancy quickly when you know ahead of time that you are going to have one. 60 day advance notification would be nice. Provide an incentive to your tenant to give advance notification before move-out...such as...return of all of their security deposit PLUS a bonus (ie, $50) if rented before move-out date. Tenant's cooperation in terms of allowing showings and keeping unit in presentable condition is key. It is also helpful if they don't badmouth you or the area :-)

2) Do "Turnover" work before the turnover - to help with #1 in regards to presentable condition, send your maintainance guy over for a pre-move-out walk-through and identify areas in need of repair. Tenant may pay handyman to make repairs if their full security deposit return is assured.

3) Perfect tenant vs. vacancy - it is critical to have written minimal rental criteria, although it is equally important to not be sitting on empty houses. Balance your need for the perfect tenant with your desire to "bodies in the houses" and get rents coming in. Don't be too picky and wind-up under water. Assess sufficiency of income, employment stability, residence stability and no previous evictions. Make sure they are not disagreeable (ie, bad attitude.) After that, it is your responsibility to mold them into perfect tenants through development of a relationship and a system of progressive discipline.

4) Make your unit the best available - this is a common business concept....be better than your competition.