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Vacancy Report Card 2014

February 28, 2015

Here is the annual vacancy report card for our properties in 2014. We are delighted with the success we are having with tenants. The one vacancy in Property 7 went really smooth, we raised the rent from 1,135 to 1,250 and we only lost about 2 weeks rent. I updated the column on our current tenant duration again this year – Truly amazing. I earlier said I want to get 30 months out of a tenant. We are exceeding that on average for sure.

vacancy report 2014

Our strategy of heavy tenant screening, below market rents and keeping the condition slightly above average is certainly working. I can’t help but think there is a 4th factor involved here – I think the personal touch of self-managing and jumping on maintenance issues when they arise is helping us as well. Val and I both have a rolodex of help and make calls right away when issues arise. We also did our tenant Christmas gifts again this year ($20 Walmart gift cards). I don’t think this is what keeps them in there, but I don’t see a down-side.

Given how quick we filled our vacancy this year, I also believe the limited availability of rental homes (and the jump in values of homes for sale) in our current market has people staying put for now?

How did everyone else do this year? Any success or horror stories?

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From → Landlord

2 Comments
  1. I had pretty good success in terms of vacancy for last year. I had a major remodel which took longer than I thought and that made my vacancy higher than it should have been. I did collect three months of rent for some lease terminations, so that helped.

    So, I had ~10 turnovers last year, and only once did I have more than two weeks between tenants. Only the remodel.

    • Very nice.. you must be attacking your vacancies when you get one too.. This market sure is helping.. our last vacancy we had people lined up for the place..

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