Vendors & Vacancies
Vendors – Build strong relationships with vendors and have them on your phone list long before you need them. Always use the same vendor so you can not only build a relationship with them they will come to your aid when you need them most. I am very good to my vendors. I give bonuses to them in December. In the slow months I make sure to pay them immediately not 30 days out. I also do an annual appreciate event – catered at a restaurant with rewards, certificate of appreciation, gift certificates (gas cards are a real hit with vendors). I go check the work that the vendor does (painting, carpet, vinyl, cleaner etc) and I give them kudos for a job well done. Keep in mind often these vendors are working in vacant units or meeting a very unhappy tenant so they don’t get positive feedback or recognition. If you treat them right they will make your calls a priority. Remember the 11pm plumbing emergency call you got on Sunday night on a holiday weekend???
Vacancies – Keep them to a minimum. Advertise and show the property while the tenant is still in the unit – as long as it is clean. If the unit is really dirty or you need to do some real turn over cleaning then wait til tenant vacates – clean the unit and do what is needed to show the property and start showing. Never show a property that isn’t clean and ready to rent that day. Walls should be clean or freshly painted, bathrooms and kitchen sparkling, carpets clean, windows clean, yard mowed etc. First impressions count.
List the rental price slightly below market value. You will get more qualified applicants than listing for max and having 30-60 day vacancy. You can’t make up the money you have lost. I advertise a property and if I am not getting the calls I expect within 3 days I lower the price immediately and I lower by $50-$100.00 Make the reduction real. Or, if the rent is a good price but the time of year is wrong (Nov, Dec) then offer discounted rent in the 6th and 12th month.
Please check out my website at www.PortolaRentals.com if you are interested in properties in Santa Cruz or have rentals in Santa Cruz, CA.
Kathleen Richards
