Continuing our series of “Top 10 Tips” we have the top ten ways to reduce vacancy rates in rental properties.  In high end properties like Naples luxury rentals or Port Royal rentals there is a decent amount of money at stake when they are sitting empty.  Ensuring high occupation levels makes them more profitable which is the reason you’re doing this every day.

There are plenty of Naples luxury houses for rent so competition is stiff.  By following these tips you can help minimize downtime and maximize profit in every property you own.

Keep the property in good condition.  Making repairs in a timely manner isn’t only a good way of keeping tenants, it’s also a great way to reduce downtime on empty property.  Tenants like an attentive landlord, and are far more likely to stay with one.  A regular maintenance schedule for your properties means they will need less work between tenants too.

Keep it clean.  Another simple but effective strategy.  By making sure communal areas are clean and presentable and including cleanliness in your terms and conditions.  Make sure your tenants keep things neat, as well as you doing all the work.

Tidy up the outside.  As well as keeping the property in good condition and clean, having a tidy up outside is a good way of keeping the house marketable.  Taking care of the exterior and landscaping will make the house look and feel inviting and well maintained.  It’s a reassuring sign to any tenant.  A landlord who takes pride in his properties is easier to work with in the long run.

Check out the neighborhood.  While not really necessary if you have Naples luxury houses for rent, checking out the neighborhood is a good way of making sure your property is the most attractive.  If there is crime around, providing a security system will make your tenants appreciate the fact you’re looking after their safety.

Research local rents.  Along with checking out the neighborhood for issues like crime, find out what other rents are.  Check out comparable homes, pretend to be a prospective tenant and research.  Pricing yours competitively will ensure that it gets rented quickly.  Market rules apply here, if a prospective tenant can get a similar house for less money they will choose it.  By researching the pricing, you can also factor in rent increases without causing pain to existing tenants.  If the increased price is all they know they won’t complain about the extra.

These are just 5 of the top 10 ways to keep rental vacancies to a minimum.  This is essential reading for anyone hoping to make a living in property rentals, luxury or otherwise.
Don’t forget to check out the sequel to this article for the other 5 tips.  It might just save you money.