How to Diminish the Vacancy Rate to Nothing?

By: navjeet kaur

It would not be wrong if one says that a building is not just a building but a foundation of our lives. We move up and down those stairs, enjoy living while protected by those concrete walls and above all, we love our homes from the depth of our heart. We are as much emotionally attached to this non-living asset as we are to a living creature. Like our body system, a building also requires health checkup at regular intervals and may have to go under a major operation before a big threat begins to loom. But would it be right if we leave this lovable asset alone when it is in a critical need of help? Whether you do it on your own or hire a property manager, to concern about the nourishment of your property is very important. Keeping up the property’s physical condition and keeping up its charm ensures it leaves an impression on tenants that would last for long. However, when you will hire a property manager for housekeeping services, they will follow a big check roll.

Exterior comes in the beginning and requires at least one inspection on weekly basis. It may include inspecting the garden and water system. Cleaning up the outdoors, if there is any kind dumping trash like waste paper, fallen leaves, etc. They will also look for problems like dirty wall marks, pit holes and unethical use of parking place. In spring, leaking roofs and drainage issues may occur which would be easily hired by the management team.

On the whole, you want to enhance the aesthetical appeal of the property and reduce the vacant rate as much as possible. If you will erect apt amount of street lights and security cameras in your building, you can keep an eye on suspicious activities and illegal parking which are common dilemmas for homeowners these days. This will let the tenants feel safe in their homes and would be a plus point for prospective tenants as well.

Now, when you have defense for outdoors, let’s check you’re indoors. Any broken door locks and broken glass window panes work as an inviting sign for crimes. The property manager would ensure all locks are in a working condition and replace the window glasses before any unpleasant incident takes place. Besides, your property should also be prepared for unpredictable calamities like fire disasters and flood. This will also be taken care by your property management team; they would install fire alarms, fire extinguishers, sump pump (to run out water at times of flood) and lot other things to make sure the building has a functional evacuation for emergencies.

The most important, you will need a maintained record of every month like what indoor and outdoor renovations were made? How much money did it costs? Did any tenant left the building and if so then is the vacancy filled? The property manager would either mail you a maintenance worksheet or get a print out at the end of every month. If you come across any discrepancy after going through the worksheet, you can freely discuss with the manager and the manager would be liable to provide you foolproof for operating costs above the servicing costs.

In short, you should have a complete protection for your dearly asset to completely diminish the vacancy rate. The cost to protect your property would be insignificant than losing a property in false attempts.

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