Top 5 Reasons Why Your Encinitas Rental Property is Still Vacant

You need to keep your investment property occupied by well-qualified residents if you want to earn money on it. Vacancy is expensive. Turnover is expensive. These things are best avoided, but how? Why is your Encinitas rental property still vacant?

Today’s rental market is tough and competitive, and you might find yourself waiting longer to find the right tenant. However, any rental property that’s priced accurately and well-maintained will always attract good residents and be leased more quickly. In any market.

Let’s make that your property.

Here are five of the most common reasons your Encinitas rental has not been taken off the market by an eager tenant just yet. 

1. It’s Priced Too High 

It’s important to price your property for profit. You want to set the highest rent that the market will bear. 

Just remember that it’s the market that sets your range. 

One of the main reasons that properties don’t rent quickly is price. Tenants have access to much of the same information that you do. They aren’t willing to overpay for a rental home. If they can find a similar home for less, that’s the property they’re going to rent. 

Talk to an Encinitas property manager. We are constantly watching the market, following competing properties, and getting an idea of what tenants are willing to pay for. We are also collecting analytics and insights that tell us where the sweet spot might be for properties like yours. We know how to balance competitive and accurate pricing with profitable rental values. 

2. The Condition Needs Improvement

Is your property deteriorating? 

That’s going to keep it vacant. 

A property in good condition is going to rent faster than one that needs work. Make sure you’re willing to invest in updates and upgrades, especially during turnover periods or when you’re preparing to rent out your home for the first time. It should look like a modern, desirable property, otherwise it will remain vacant costing you daily. Pay attention to:

• Paint. Don’t touch up the spaces that are chipped, faded, or scratched. Instead, paint the entire wall to make the home and the room look refreshed.
• Floors. You want to make sure the floors are in good condition. If you’re using carpet, you want it to be durable, free of stains and odors, and neutral. Hard surface floors are always preferred. These will get the attention of prospective tenants, increase your rental value, and last longer. 
• Appliances and fixtures.  It doesn’t cost much to update things like drawer pulls, light switches, faucets, and light fixtures. These updates make a difference in your property’s perceived quality. When appliances begin to age and break down, replace them with energy-efficient models.

Tenants in Encinitas are often looking for smart home technology and energy-efficient features. By making renovations and updates, you’re improving your rentability and more tenants will be eager to rent your home. 

3. Your Marketing is Lackluster 

You may have the best rental home in Encinitas, but if no one knows it’s for rent, how will you rent it?

Marketing and advertising are almost all digital now, and that means you need to create listings that get the attention of people who are scrolling through dozens or even hundreds of properties per day. Photos must be good quality. Descriptions need to be concise. You want to make sure the tenants who cruise through your listing decide to schedule a showing. 

If your rental property is priced correctly and in good condition, but you’re still not getting any interest, you probably need to turn up the heat on your marketing game. 

4. You’re Not Allowing Pets 

What does your listing say about pets? Does it say you are willing to consider them? Or are you sticking to a no-pet policy? 

This makes a difference. More than half of the Encinitas tenant pool has at least one pet. Most of your prospective residents are looking for pet-friendly properties. If you’re not willing to consider well-screened animals, you may have to wait longer to find a tenant. 

Pets come with risks. But, when you screen pets well and put together a strong pet policy, there’s less risk for you and a better chance of placing a good tenant quickly. We encourage you to consider allowing certain types of pets, especially when your property is vacant for longer than you’d like. 

5. You’re Not Working with an Encinitas Property Manager 

Encinitas property management is a secret weapon that isn’t always obvious to landlords who are trying to lease out their homes on their own. 

We can reduce your vacancy time, find a great tenant, and get your rental experience off to a great start. We can save you money, protect your assets, and ensure that a fantastic tenant is in place and likely to stay for the long term. 

Reach out for help from a property manager, even if it’s just to talk about pricing or preparing your property for the rental market. Don’t waste time or lose money on extended vacancies.

Here is a summary of our suggestions on how to get your home rented faster: 

• Price it accurately and competitively. You can do this while still earning a healthy profit. 
• Make sure it’s modern, attractive, and desirable. Fix the peeling paint and replace the old appliances. 
• Be willing to consider pets. 
• Market your home in a way that casts a wide net and gets the attention of a wide variety of tenants. 
• Work with an Encinitas property management company. As professionals, we know how to keep vacancies to a minimum and lease rental homes quickly. 

Don’t panic. Vacancies are frustrating and expensive, but they don’t have to interfere with your real estate investment success.