Showing an occupied rental unit is not too common in Burbank. Most landlords or property managers want the property to become vacant before showing it to a new tenant. The only problem with this is that it leads to loss of revenue.
It is possible that you can put up an occupied rental unit for rent by a new tenant. However, before you can do, you must have gotten the permission of the current tenant who must have made his intention of not renewing the rent known to you.
Showing a property when it is still occupied may not seem like the most ideal thing to do. However, it comes with lots of benefits. It leads to uninterrupted cash flow, ensures zero vacancies, and the utilities can easily be transferred to the new tenant. If you have decided to this, there is a way you can do it right or wrong. In this article, you will learn of the top 5 ways you can easily show an occupied rental unit in Los Angeles to a new tenant.
Top 5 Tips For Showing an Occupied Rental Unit
1. Talk To Your Tenant
Before you can list an occupied property for rent, you should have a talk with your tenant. Your tenant must make his intention known to you before you can proceed. You can only do this when a tenant has decided not to renew his rent. Instead, he has decided to move. In this case, you are free to start searching for a new tenant.
2. Reach An Agreement With Your Tenant
Reach an agreement with a tenant that you want to show the property to a tenant. Note that you cannot invade his privacy anyhow you want. You must have an understanding with him. It is important to point out that your tenant can refuse you entry.
Let him know on time about your plan to bring a new tenant to inspect the property. You should give him at least 24 hours notice.
3. Ask the Tenant to Clean The Property
Of course, you cannot force your tenant to clean the property or keep it neat. However, you can have an understanding with him to keep his property neat when you come with a new tenant. You can give him an incentive by promising to release his security deposit much earlier or offer him a shopping voucher.
4. Give Incentive To the Tenant
Like we mentioned above, the tenant currently occupying the rental unit can refuse you entry. However, you can be able to persuade him by giving him an incentive. You can offer an incentive such as a gift certificate.
5. Avoid Making Use of “For Rent” Signs
When you want to rent a property that is still occupied, it will be rude to put in “For Rent” sign. This will bring in would-be tenants who will disturb the peace of current tenants. Instead of putting in “For Rent” sign in front of the property, ask the would-be tenants to meet you. You would then arrange a date for showing that would be convenient for you, the renter, and the current occupant of the property.
Renting an occupied rental unit is one way to ensure you have zero vacancies. This can help you increase your revenue as you will always have new tenants when the old one is moving out. However, for a consistent revenue from your property, you should consider using the services of experienced property management company in Los Angeles.