Vacant rental properties come with a lot of issues and unintended consequences. For one thing, you don’t earn any rent. That’s a drain on your cash flow and your long-term ROI. Other than the obvious lack of rental income, vacant properties can also pose problems for Phoenix landlords. You have to pay out-of-pocket for things like utilities and landscaping. You also have to keep the property secure and free from squatters, vandals, and other potential criminal activities.
Today, we’re talking about some of the things you can do to avoid the risk, liability, and expenses that often come with a vacant rental home.
Keep Your Utilities On at the Rental Property
After a tenant moves out, get in touch with the utility companies to switch the account into your own name. You don’t want to leave your rental property without water, gas, or electricity. You can probably do without things like cable and Internet, but make sure the main utilities are still on. You want the home to look as normal as possible and not attract the attention of people who may not have good intentions.
This will serve two purposes. First, it keeps the property secure. You want to make sure you have exterior lighting that turns on automatically in the evening. You also want to prevent the home from becoming too hot or even too cold in the winters. We don’t have freezing weather very often in Phoenix, but you don’t want pipes at risk of freezing or appliances getting stale.
It also keeps the home save and accessible for any maintenance work that’s being done or potential showings if you’re looking for a new tenant. Your prospective tenants will want to turn on lights and flush toilets. Make sure that these things are possible.
Keep Your Landscaping Looking Good
Curb appeal is always important, and it’s especially necessary for vacant rental properties. You want the home to look attractive while you’re trying to rent it out. People who have inquired about the property may be planning to drive by it. You don’t want them to cancel a showing because of how the place looks. If you have grass, trees, or flowers, make sure they’re trimmed and watered. If you have more of a desert landscape happening or some Xeriscaping, make sure it isn’t attracting any debris and stay on top of your pest control.
Attention to your landscaping keeps your home looking great, and it also contributes to that sense of normalcy which is so important in keeping it secure and safe.
Work with Phoenix Property Managers
Smart investors know that working with a professional Phoenix property management team comes with a number of benefits and advantages. It’s especially useful when a property is vacant. Most rental homes in Phoenix face shorter vacancy periods when they’re professionally managed. And when they are vacant, the turnover process is swift, efficient, and cost-effective. One way to limit the risks and problems that come with a vacant rental property is to have professionals taking care of it.
We’d be happy to tell you more about how to best protect your Phoenix rental property. For more information, please contact us at Zen Rent.