Landlords should expect it to take even longer to fill vacant properties during an economy as weak as today’s – right? Not so fast. You should never expect that it will take longer to find a renter at one time than another. Some property owners target a 72 hour window to fill their vacancies no matter what may be happening in the wide world around them.
Ever notice how if you expect a certain outcome, your actions will adapt themselves to fulfilling that prophecy? Hit that 72 hour window at a full sprint and act as if you will have a renter within that time frame. Here’s something to consider – with the rise of foreclosures and tightening of lending standards, there are even more people hitting the streets looking for a place to live. Pull out all the stops to get your vacancy in front of their eyes quickly.
At a certain level this is the power of positive thinking but it’s more than that. It’s about making the job of filling a property vacancy a #1 priority until it is accomplished. As a landlord, that is your job, right? You’re in the business of renting space to people to live in. If you don’t rent space, you don’t make money.
Refuse to participate in the recession. Full speed ahead!
The Creating Wealth Team
