Property Management Blog

When your rental property is vacant, it does not generate any income, but you are still saddled with spending money on maintenance and repairs so that the property does not become uninhabitable. Experts in property management Chesapeake, VA have knowledge on how to keep rental properties fully occupied to save property owners time and money.   Here are just a few of the ways that you can maintain or increase tenant occupancy at your Chesapeake rental property.   Introduce a pet-friendly policy. You will have a larger target market for tenants if you allow pets. You can also charge pet rent to cover any additional fees that may happen with pets on the property.   Up your curb appeal. Your rental property should look inviting and attractive. A well-kept lawn, trimmed hedges, well-painted buildings, and beautiful plants make the property look very appealing from the street. The interiors and exteriors should be very clean and neat. A beautiful property will endear most people to it and induce them to rent.   Rental Rate Guarantee. If your property is in a highly competitive rental market, then you can offer a rate guarantee for a certain period of time. Work out how much maintenance and other costs you will incur for that period and determine how much rent you can collect for the same period. If it is financially viable, then you can offer the guarantee. It may be better to offer this type of incentive to people with excellent credit scores. They are more likely to be able to pay the rent consistently for the period under consideration.