San Diego County tends to be a transient community and frequent moving is common place. The high military and college student populations, as well as the economy are significant factors to our migrating community.
PropertyADVANTAGE consistently has about a 3 to 5 percent vacancy rate. When our tenants decide it is time to move, they must submit a 30-day notice to vacate. Once we receive written notice to vacate, we contact our owners as soon as possible. When we have confirmed the new lease terms and the rental price is agreed upon, the property is immediately put on the market.
In order to rent the property as quickly as possible it is important to analyze the activity on the available property. If the property has been on the market for more than a week with little or no interest, it usually means the rent is too high for the area. Occasionally, we will receive a lot of calls and show a property regularly but do not receive applications. This could mean many different things but we see these two most often:
- Prospective tenants view the property but think the rent is high for what the property is offering. For example, the tenants did not realize how large the yard was and the lease terms do not include a gardener.
- Maintenance issues can hold the prospective tenants back from submitting applications. If the property looks unfinished, then the tenants tend to think "will it ever be finished?" For example, if you're planning to replace the carpet, do so as soon as possible.
Our goal is to have the property re-rented by the time the vacating tenants move out with as little down time as possible. However, depending on the extent of the turn maintenance, at least 3 to 5 days are needed to get the property in rent ready condition. A smooth move in transition will start the lease term out on the right foot.