How To Market Your Rental Property While It’s Occupied

How To Market Your Rental Property While It’s Occupied

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Whether your tenant is leaving in 30 days or 90 days, you’ll want to get the jump on marketing your property to avoid a period of vacancy and a subsequent loss of income. However, you can’t just walk people through the property while people are living there. So how do you market your rental property while it’s occupied?

Communicate With Current Tenants

One of the most valued traits a landlord can have is the ability to communicate. Communicating openly and clearly with your tenants lessens the chance for arguments and disagreements, so informing them that you’re planning on marketing their property before they leave is step one. When you do this, you include your tenants in the planning, which will come in handy later. When your tenant is on your side, you can compromise easier and get things done. Besides, it’s much easier to work with a tenant that respects you rather than working with one that doesn’t trust you.

Ask Them for a Convenient Showing Time

Now that you’ve set up an open line of communication, both parties can decide on a showing time that is convenient for everyone. Your tenant likely has a job they must go to or errands that they need to run. Keep a written record of their schedule so you can have it on hand when you speak with prospective tenants about available times, and notify the prospects that the times listed are strict and they must adhere to them. The last thing you want is for your tenant to return while their home is being shown.

Inquire About Cleaning Options

Unfortunately, it is not a legal requirement for your tenants to keep a clean home if it’s not directly damaging your property. You can inquire whether they would consider cleaning the house themselves, and most would be okay with doing so. However, some tenants may see it as an inconvenience. You could offer them an incentive such as an extended rental due date or a discount. If you don’t feel comfortable doing so, you can offer to pay for a cleaning service; some may accept, while others may then choose to clean themselves to avoid having strangers in the home.

Avoid Hosting an Open House

Unfortunately, while it may seem easier to host an open house so multiple parties can view the property at once, it’s more of a risk than anything. Open houses are much longer than property showings, and you don’t want to inconvenience your tenant by forcing them to leave for longer than 15 minutes. Additionally, with multiple people on the property, you can’t keep an eye on everyone, leaving your tenants’ belongings vulnerable to theft.

Knowing how to market your rental property while it’s occupied means you don’t have to lose money due to vacancy. Just remember to keep an open line of communication with your tenants and respect everyone’s time.

Image Credit: For Rent Real Estate Sign in Front of House By Andy Dean FILE #: 76388855

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Categories: Building Management

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