Owning a rental property sounds like a golden ticket, right? A steady stream of income, no boss to answer to, and maybe even some extra cash for that dream vacation. But then reality kicks in: your rental is empty, the bills keep coming, and you start wondering if you should just move in yourself.
If your property is gathering dust instead of applications, here’s what might be going wrong and how to turn things around.
Your Listing Is as Exciting as Dry Toast
People shop for rentals the same way they shop for anything else: online and with high expectations. If your listing has blurry photos, a vague description, or worse: just a sad “For Rent” sign in the window, then you’re missing out on a huge pool of potential tenants.
Spruce up your listing with bright, high-quality photos, a compelling description, and make sure it’s on all the major rental sites. Need help? A property manager knows exactly how to market your place so it doesn’t get ignored like last year’s fruitcake.
You’re Charging Like It’s a Luxury Penthouse (But It’s…Not)
Setting the right rent price is a balancing act. Go too high, and tenants will scroll past faster than a bad Tinder profile. Go too low, and you’re leaving money on the table. Check out comparable rentals in your area to find that sweet spot. And if you’re unsure, a property manager can help set a competitive price that gets renters interested without cutting into your profits.
No Pets Allowed? No Tenants Either
We get it, pets can be messy. But so can people. The reality is, a huge chunk of renters have pets, and by saying “no pets,” you’re shrinking your potential tenant pool significantly. Instead of a total ban, consider charging a pet deposit or monthly pet rent to cover any possible damage. Plus, pet owners tend to stay put longer, meaning less turnover for you.
Your Property Looks…Well, Sad
Peeling paint, outdated appliances, and questionable carpet stains don’t exactly scream “Welcome home!” A few strategic upgrades like fresh paint, modern lighting, or stainless steel appliances can make a world of difference. You don’t need a full renovation, just enough to make tenants feel like they’re getting a good deal. A little TLC goes a long way.
You’re Showing a Dirty Unit
This one should be obvious, but you’d be surprised. If a potential tenant walks into a rental that smells weird, has dust bunnies in the corners, or looks like it hasn’t seen a mop in years, they’re out. Fast. Cleanliness suggests good maintenance, which makes renters feel confident about signing a lease. If you don’t have time to scrub the place down, hire a cleaning service. It’s worth it.
You’re Too Picky (In the Wrong Ways)
Having standards for your tenants is great. But if you’re turning down every applicant because their credit score isn’t flawless or their job history has a gap, you’re making it harder on yourself. Instead of just looking at numbers, consider the full picture: rental history, income stability, and references. A property manager can help you screen applicants the right way and protect your investment without scaring off good renters.
Your Customer Service Needs Work
Renting out a property isn’t just about collecting a check; it’s about providing a place people actually want to live. If tenants reach out with questions and get ghosted, they’ll move on. Fast responses and a friendly attitude go a long way in turning an inquiry into a signed lease. If you don’t have time to manage tenant communication, a property manager does. And they’ll do it well.
You’re Trying to Do Everything Alone
Managing a rental property takes time, effort, and patience; three things most owners are short on. From marketing and tenant screening to maintenance and rent collection, there’s a lot to juggle. A property manager takes that weight off your shoulders, keeping your rental occupied, your tenants happy, and your profits steady.
So, if your rental is sitting empty while others have a waitlist, it’s time to make some changes. Tweak your marketing, price it right, clean it up, and consider bringing in a property manager to keep everything running smoothly. Because an empty rental is lost income. And nobody likes that.
