How would you like some extra rent in your pocket that you would normally miss out on?
We bet you would. Did you know there’s an opportunity to make an additional month’s rent each time a rental agreement ends?
When a renter gives the notice to vacate, they must provide a minimum of 28 days written notice.
Most agents will wait for the renter to vacate before looking for a new renter, but at Dynamic Residential, we do things a little differently so that our rental providers can reap the benefits. Looking for a renter doesn’t just solely involve advertising a property, it involves providing access to the next prospective renters, as most individuals want to see their next home, first hand. We are in the business of building relationships and tailoring property solutions to each individual, whilst at the same time we’re in the business of maximising the best results for our clients.
So what generally happens when a renter gives notice to vacate?
In most cases, not a lot. Property agents are notorious for being busy and handling many properties at any one time, so if there’s someone still living in the property, they usually just let sleeping dogs lie until they really need to do something about it.
This then leaves the property vacant for a large portion of the rental campaign, leaving you out of pocket, with an empty property generating no income. Mortgage repayments don’t stop, so it is natural that a renter vacating can cause some stress! Luckily, Dynamic is here to take away this stress and give back to our valued clients.
This short and sharp blog looks at how you can take advantage of those 28 days before a lease ends with a strategy that’s as easy as 1, 2, 3.
How can I earn additional rent as a rental provider?
If your property managers are worth their weight in gold, like the team at Dynamic Residential, then the search for new renters begins as soon as the Notice to Vacate is received.
- Advertise the property as soon as the Notice to Vacate is received.
Our expert team get to work and advertise the property immediately. How do we do this so quickly? We have all your unique property details, images and previous marketing collateral on file that we can easily access in a moment. We then use this information to quickly create a strong advertisement.
- Run Inspections immediately
As soon as we receive enquiries for your property, we’ll take prospective renters through to inspect the property as early as possible. This is often while the property is still tenanted and allows us to secure a new renter before the existing renter moves out.
- Align move-out and move-in dates.
We align the new renters’ start date as close to the vacate date of the existing renter as possible to ensure the cost of vacancy is minimised. It does involve considerable administration, liaison between all parties and timely paperwork. Still, our dedicated team are well versed in the process and keen to help you put some extra rent in your pocket, via a minimised vacancy gap from one tenancy to the next.
We have the property data to prove this strategy works
As of 27th September 2022, Dynamic Residential recorded across our portfolio, a median of 15 days on market via realestate.com.au. With a Dynamic Residential-managed property, we’re securing the next renter, before the current renter has vacated, with minimal vacancy periods.
The result? Peace of mind and a shift of expectations by property investors in how this process should be done, in comparison to how most other agents navigate this space. We’re here to start changing that narrative with committed, proactive service to benefit all rental providers.
But don’t do it alone when you can leave it to the experts
While simple, this strategy is difficult to execute well and manage if you’re a rental provider going it alone. We suggest engaging a team of Melbourne’s most experienced and highly-rated real estate agents who’ll provide valued clients with as many advantages as possible during their property rental journey. If you are a landlord looking for assistance managing your property vacancy, processes or ongoing affairs, get in touch with the team at Dynamic Residential today.