How much did that vacancy make you today?

How much did that vacancy make you today?

SAMSUNG   Orlando Property Manager Front

How much did that vacancy make you today?

I’m gonna go out on a limb here- and guess that if you’re a property manager with a place that’s sitting vacant, it didn’t make you a dime today.  It’s a fairly short limb, of course- as common sense tells one that vacant properties generate no funds…and it’s really more hypothesis than wild guess- for property management is what I do and all.

That said, there are some folks (owners and some of my fellow Realtors and property managers alike) that still don’t get this concept.

I’ve included the photos above for illustration purposes- the 2-story beauty with the “edgy” plywood shutters sits across the street from a rental property I’ve had on the market recently- while the single-story place is one that we’ve managed for a while now.  A number of characteristics set these units apart from one another, but the most important one of all is that one generated money for an owner today and one didn’t.

Forget who might own the “plywood house” (a bank, I believe).  It’s clearly just an example of a place that’s in need of a great deal of repair- and one that won’t be faring well on either the sales or rental market any time soon.  But lest there be any doubt, there are owners who look to place their homes on the sales or rental market in such a pitiful condition that they’re destined for failure from the very beginning.

Great-looking properties sell, great-looking properties rent.  Curb appeal matters in both instances.  Fresh paint goes a long way towards impressing a prospect, nasty walls goes just as far in the opposite direction in pushing that same prospect away.  New carpet impresses a prospect, cleaned older carpet might as well– but dirty carpets tell a prospect that you’re not concerned with the home’s appearance and that you’d expect no better from them if they were to move in.

Granted, every owner isn’t on equal financial footing- and it’s surely understandable that some can afford to make more repairs than others.  This isn’t meant to address those who can’t afford to make repairs/improvements, though- but rather those who can afford to make them yet fail to see the value in doing so.

Remember:  every little bit counts.  Ceiling fan a tenant prospect requested costs too much?  Replacing the ragged carpet in your living room for a buyer prospect gonna set you back a good bit?  Refinishing the tub where Father Time has taken his toll means bustin’ open a ceramic pig in the kids’ room?  That could very well be the case, but I’ve got one last question for you…

How much did that vacancy make you today?


About Dennis Burgess

Dennis B. Burgess Realtor in Orlando, FL ORRA Vice-chairman of Strategic Planning/Secretary ORRA/FR Boards of Directors Empire Network Realty 6000 S. Rio Grande Ave., #104 Orlando, FL 32803 Cell: 205-445-4755 Office: 407-440-3798 Twitter: @orlrentals Turning vacant into occupied, and "houses" into "homes"
Gallery | This entry was posted in Prospects and Clients, Real estate, Repairs and/or Maintenance and tagged , , , , , , , , , , . Bookmark the permalink.

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