Every month a rental unit sits empty, you lose more than just rent.
Where the money goes
- Lost monthly income. As a simple example, a unit that rents for $2,500 a month costs you $2,500 for every month it stays empty. Your numbers will differ.
- Ongoing expenses. Taxes, insurance, utilities and upkeep keep coming whether or not anyone lives there.
- Lower annual returns. A few empty months can change how the whole year looks.
What helps
- Start marketing the unit before the current tenant leaves.
- Price the unit based on comparable rentals nearby.
- Respond to inquiries quickly and schedule showings promptly.
- Keep the unit clean and in good repair between tenants.
Professional management can help reduce vacancy time and keeps your investment performing.
Request a free management proposal or call (508) 960-7111.