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Important Things to Remember When Dealing with a Vacancy in the Bay Area

Important Things to Remember When Dealing with a Vacancy in the Bay Area
By Roger D. Eagleton - Monday, May 7, 2018


For every week your property is vacant, you’re losing two percent of your annual income. That number adds up pretty quickly and affects your profitability. It’s a good reason to keep your vacancy rate to a minimum. While you don’t want to have a vacancy at all, you also don’t want to offer your property to the first person who comes in off the street. While it can result in getting your property rented quickly, you want to make sure the tenants you place are qualified. This is a balancing act, and it’s where our role as a property management company helps. We can look out for your greater good and slow the process down to ensure you’re getting a good tenant who you won’t have to evict three months down the road.

How to Prevent Vacancy Loss

You can prevent vacancies by tracking lease expiration dates and keeping in touch with tenants. It’s unusual for tenants to just up and leave. If they do, something went wrong during the selection process because most good tenants will abide by the lease terms and stay until the end of that lease. When the lease period ends, we will discuss renewal if all parties are happy. So, keep track of these expiration dates.

Property Management Burlingame: Market Conditions

Track market conditions. When leases are ending, consider whether you want to end the tenancy and go through a unit turnover. It may mean you get a few hundred dollars extra in rent every month, but you’ll face the cost of a vacancy for at least a few weeks, and you’ll have to pay to get the property ready for a new tenant. Understand the implications both ways. Work with a property management company that is at least giving you all your options so you know the pros and cons of raising rents and looking for new tenants.

Selective Screening Process

Choose carefully when you have prospective tenants. Avoiding issues with vacancies will be easy when your tenants are happy and willing to renew their lease. Place qualified tenants, and make sure everyone understands the terms of the lease agreement. That will prevent unexplained vacancies and surprises. For further details on vacancies and how to avoid them, please contact us at Five Star Property Management. We’d be happy to help with any of your Burlingame property management needs.

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Roger D. Eagleton
President / Broker
Looking for a property management expert who can take your rental properties to the next level? Look no further than Roger D. Eagleton, a true seasoned professional with a diverse background in real estate. After earning his degree from California State University, Bakersfield, Roger began his career in the real estate industry with several national banking and lending institutions, sharpening his skills in real estate finance. He later founded Energy Real Estate and Five Star Property Manageme...
Looking for a property management expert who can take your rental properties to the next level? Look no further than Roger D. Eagleton, a true seasoned professional with a diverse background in real estate. After earning his degree from California State University, Bakersfield, Roger began his career in the real estate industry with several national banking and lending institutions, sharpening his skills in real estate finance. He later founded Energy Real Estate and Five Star Property Management and has since been committed to providing his clients with the highest quality property management and real estate services. With an extensive knowledge of residential income property, Roger is well-equipped to take on the unique challenges of managing rental properties. He works closely with private investors and court-appointed conservators to ensure that fiduciary properties are managed to the fullest potential. He also has a wealth of experience managing single-family homes, apartment buildings, and commercial properties and holds a California Real Estate Broker’s License, BRE# 01791264. But Roger's expertise doesn't end there. He is also a championship-winning professional race car driver, who used his platform to give back to the community through various philanthropic activities and charities around the greater bay area, including serving as a driving coach for NASA’s Teen Car Control Clinic. He understands the importance of safety, and his coaching has helped new drivers improved confidence and experience on the road which ultimately saves many lives. When you partner with Roger and his team, you can trust that your rental properties are in the hands of an experienced and dedicated professional who always prioritizes the investment goals of his clients. With Roger's knowledge, experience, and passion, you can rest assured that your rental properties will be managed to the highest standard, maximizing returns and minimizing headaches for you as the owner.
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