There are questions that prospective clients ask over and over.
One of those is how long it takes to lease out a rental property.
The thing is, it’s a really important question.
The length of time it takes to lease out properties is hugely important.
One of the most important things an OKC property management company does is to quickly lease properties.
It doesn’t take a rocket scientist to figure why this is so important.
When your property is not leased out, it’s not making any money.
So I decided to start carefully measuring the length of time it takes my company to get properties leased.
An amazing thing happens when you measure something.
You suddenly become much more aware of anything that effects the thing you are measuring.
What I found was surprising.
The average time to get them leased was 22 days of all the properties that we have made ready in the last 50 days from the writing of this article.
The even more surprising thing is that this really the slowest time of the year to lease properties.
However, we completed 15 leases during December, typically the the slowest time of year.
How an OKC Property Management Company can Quickly Lease Properties
Here’s a quick list of some of the things we do to lease out properties.
#1. Good old fashion hard work.
My OKC property management company, OKC Home Realty Services, LLC, advertises on all the major on-line sites for rental properties, such as www.trulia.com, www.zillow.com, www.craigslist.com, www.gosection8.com., and other websites where tenant look for properties to lease.
#2. That personal touch.
Our property management company has one person at the office who answers phones. It’s funny how rare a touch that is these days.
You’ve got to quickly returns emails. Make follow up calls when necessary. Right away.
#3. By making it easy for people to see our properties.
Our company does showing during off times such as nights and weekends.
#4. Who you know matters.
We have deep relationships with agencies who are always looking to place tenants, such as programs for homeless veterans. We also have relationships with Section 8 (Oklahoma City Housing Authority and Oklahoma Housing Finance Agency), the Homeless Alliance, Goodwill, and Hope Community Services. This is a rich source of tenants for us.
#5. We’re not afraid to get aggressive when we need to.
Offering move-in specials for properties that are moving slowly. This is particularly effective because our tenants love getting good deals. It’s totally worth it to knock a bit off the first month of rent to move in a good tenant much quicker than you would have otherwise.
#6 You have to keep your eye on the ball.
Carefully monitoring the response from each property. If the response is less than expected, it’s almost always because there is something wrong. We either need to adjust the advertisement or the rent and/or deposit. We monitor these figures every week to make sure we’re on track.
#7. A rolling stone gathers no moss.
When we get a 30-day notice to quit from a tenant, we don’t wait for the keys to start advertising. If we play our cards right, sometimes we can limit the vacancy time to a week or two.
An okc property management company just can’t sit on it’s hands when it comes to leasing. It needs to be proactive.
#8. What you see is what you get.
To make your property stand out, you need to have nice photographs. This is especially true for higher priced properties right now because of all the competition in that space.
We make certain that the properties are ready to go when we start showing them. That means all the work is done. That means the property has been professionally cleaned. It makes a big difference to our prospective tenants.
#9. Make it easy for our customers to say yes.
We make it easy for our customers to respond back when they are ready to go. Our prospective tenants can apply on line. We keep applications stocked at the properties.
An okc property management company must make it easy for it’s customers to say yes.
If you have a property that you would like us to lease for you, contact our office.