Vacancy usually isn’t the problem.
It’s the result of a problem, or a set of problems.
In most cases, it comes down to one of three things:
• Pricing is off.
• Marketing photo's aren't great
• The home or unit isn't 100% show ready.
The mistake I see often is treating vacancy like a surprise.
It’s not.
If you’re paying attention to the market and your property condition, you should see it coming and make adjustments before it happens.
@GenZMultifamily Yeah we set our leases to have the tenants rent responsible until we find new tenants instead of having a blank 1/2/3 month penalty. I feel like either solution works in this scenario!
@davebfr We’ve heard the “lots to clean up” after almost every game this season - it’s weird to watch him have these quarters or halves of greatness but then do a complete 180 and look completely lost. Starting the game 1/7 won’t get it done against the Packers or any other NFL team
@chicagobars@CookCountyTreas Mine actually went down - but my HOA fought and won our case to reduce our buildings tax bill last year. This is the first year of savings for us.
@StrongpointRich@homeprosnews I would have been a bit more shocked if heat pumps had been excluded - all new construction out by me (SFH’s or Multi) are installing heat pumps