Investors never want a vacant rental property when their retirement is on the line—but there's no need to panic when it's time to find a new tenant. Finding your next tenant can often be more about helping them find you!
You want to move quickly to
shorten your vacancy cycle and find your next tenant—but how can landlords find the perfect match without it taking weeks (or longer) to place someone in your property? If you have multiple Kona Coast rentals in your real estate portfolio, multiple vacancies can quickly become very expensive.
A desirable property—and the right strategy—can help bring a fresh new tenant to your door before you know it! Here's what landlords can do to help tenants with finding Kona Coast rentals—and with finding your investment properties!
1. Be Proactive
Successful investment property owners know that being prepared helps navigate a multitude of unexpected situations. While you work hard to keep tenants happy and provide a safe living environment in your slice of paradise, investors should always plan for tenants to leave
—eventually.
Help your next tenants find your rental property quickly by having a plan in place:
- Keep an eye on lease termination dates: Set up a system to alert you 90 days before the end of a lease term.
- Communicate with tenants early: When you get that alert about the end of a lease, talk with your tenants. If they decide not to renew, you have two to three months to find your next tenant.
- Review your tenant criteria before posting your property listing: Do you want to change anything about what you look for in an ideal tenant? Make changes to your criteria before you start looking to fill your vacant Kona Coast rentals!
When you have these details, you're ready to review your properties and update listings!
2. Do Your Properties Need Any "TLC?"
A tenant transition is an excellent opportunity for rental property upgrades. Before you overspend on renovations, make sure your property can benefit from a few updates that might attract better tenants.
Choose smart upgrades that will pay off with quality tenants and a justifiable increase in the monthly rental rate.
Your investment property will stand out from other Kona Coast rentals when you offer new flooring, updated appliances, or a welcoming first impression with attractive curb appeal.
3. Dust Off Your Property Listing
A well-prepared investor always keeps their property listings handy. There's no need to recreate it from scratch when it comes to helping tenants with
finding Kona Coast rentals!
However, your listing might need some work to attract your ideal tenant.
Pull up your property listing and review it. Does it need some work? Has anything changed about your property since the last time it was available? If you're not sure if it's the best it can be, consult a professional
Kona Coast property manager. You'll attract quality tenants with a property listing that's appealing!
- Use professional photos: Make sure to take new photos! If it's been more than a year since your last property photoshoot or you've made any upgrades, it's time to update the photos for your Kona Coast rentals.
- Create an accurate—yet compelling—description: Don't stop at telling potential renters what your property "has," tell them what it "is!" Make sure the description is more than a list of facts and figures. Help your property call out to your next ideal tenants.
- Update your criteria: Do you want to start allowing pets in your property? Have your fees or the monthly rental rate changed? Make sure this information is accurate.
- Highlight amenities: Kona Coast renters aren't looking for just any home—they want a little piece of paradise and convenience on the Big Island! Use your property listing to highlight your proximity to the beach, storage space, professional property management, and 24/7 maintenance services.
If your Kona Coast rentals are the property your ideal tenants want, they will come!
4. Get the Word Out!
To help tenants with
finding Kona Coast rentals, they need to know your property is available.
When your property listing is ready, it's time to get the word out!
- Post your listing to online sources where renters search for available properties.
- Send an email to your waiting list of already-screened tenants.
- Spread the word to friends, neighbors, and other trusted sources in the community.
- Post signage in the property's yard.
- Share on social media.
- Post to your business website.
As you gain experience as an investor, you'll learn the best places to market your Kona Coast rentals. Focus on the methods and posting locations that bring you the best quality tenants for your screening process.
Of course, when you work with a professional
Kona Coast property manager, you gain access to top-of-the-line tools of the trade that can help your investment properties reach the right audience faster.
A Kona Coast Property Manager Helps Tenants Find YOU!
When you work with an expert property management partner, you gain access to vetted sources where your new tenants are already looking for their next rental home! A property manager also has the expertise to create a property listing that brings ideal tenants to your property's door to nip vacancy in the bud.
They are also a key asset when it comes to upgrades for your Kona Coast rentals: a local property management expert knows exactly what tenants want!
The expert property management team at Hawaiian Dream Properties knows how to help tenants find your Kona Coast investment properties! No matter how many properties are in your rental property portfolio,
we have a plan for tackling tenant turnover to reduce vacancy cycles—and help you maintain your profits when tenants come and go.
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