Happy Silicon Valley tenants (source: flagship-pm.com)
Do you have rentals in Silicon Valley? Do you have higher vacancy rates in Winter?
Well, you are no alone. Winter has the worst vacancy rates, and you lose rental income every month your rental home sits empty. Having a tenant move-out in close to Winter months is a tough challenge since it’s harder to find tenants. After all, no one wants to move when it’s nearing holiday season. ut at this time of year is often considered the kiss
In fact,Kevin Haag, CEO of Douglas Realty & Development, Inc., encourages his rental property owners to offer an incentive such as “1st week free rent” if the tenants sign a lease before Christmas. Other offers could include gift certificates to local restaurants Haag recommends.
You should also compare your rents to similar properties to avoid losing your tenants to other landlords for a few extra dollars. One option is our Free Rental Survey where we will generate a comprehensive rental survey. Another option is using sites like Rentometer. The challenge with Rentometer however is that there is no way to adjust the rental properties for any amenities.
Setting prices for your Silicon Valley renal is part science and part art. While you need to avoid being over-price, you also don’t want to give an impression that your rents are too low since the potential tenants will assume something is wrong with the property.
Recent studies show that the vast majority of renters rely on the Internet to find rentals. And having a rental property on a landlord’s or property management company’s professional website is one way potential renters can confirm the rental home isn’t part of a rental scam. If you feel ill-equipped to take building a website on yourself, seriously considering hiring someone to help you.
Contact Us if you have any questions.