Vacancy Costs More Than You Think — Here’s How to Keep Your Property Rented

Vacancy Costs More Than You Think — Here’s How to Keep Your Property Rented

If you’re a landlord or property owner, you’re likely aware of the frustration of having a vacant rental unit. While it may seem like a short-term loss of income, the actual cost of vacancy is often more significant than many people realize.

At Living Legacy Property Management, we assist property owners throughout Baltimore and the surrounding areas in understanding the true financial impact of vacant units—and more importantly, we provide strategies to help avoid them.

The Hidden Costs of a Vacant Property

Let’s break it down. When your rental is sitting empty, you’re not just losing rent; you’re also losing potential income. You’re also paying for:

Mortgage payments
Utilities and upkeep
Property taxes
Insurance
Marketing efforts to re-list
Time spent screening tenants.

For example, a $1,500/month rental that remains vacant for two months can easily incur over $3,000 in lost income and out-of-pocket expenses. That’s a hit to your ROI you can’t afford to repeat.

✅ How to Keep Your Property Rented (and Earning)

Avoiding vacancy starts with prevention and preparation. Here’s how to keep your property consistently rented:

1. Start Marketing Early

Begin promoting your property 30–45 days before the current tenant vacates. Use platforms like Zillow, Craigslist, and our rental listings page to get visibility.

2. Use Professional Photos and Video Tours

Listings with high-quality visuals generate more clicks and attract serious renters quickly. We provide virtual tours and marketing to capture their attention more rapidly.Listings featuring stunning, high-quality visuals not only generate more clicks but also draw in serious renters with remarkable efficiency. We offer immersive virtual tours and impactful marketing strategies designed to captivate potential tenants and spark their interest in no time.

3. Screen Tenants Efficiently

Efficient yet comprehensive screening is essential for successful tenant placement. At Living Legacy, we meticulously conduct thorough background checks, assess creditworthiness, verify income stability, and review rental histories to ensure we connect landlords with dependable tenants in a timely manner.

4. Maintain the Property

Units that are meticulously maintained tend to draw in higher-quality renters. By promptly addressing small issues, you can prevent them from escalating into larger problems that could potentially delay move-ins. This proactive approach not only enhances the living experience but also contributes to the overall appeal of your property.

5. Offer Incentives for Fast Move-Ins

A limited-time offer (e.g., $500 off first month’s rent) can make your unit more appealing and drive urgency.

6. Partner with a Property Manager

Vacancies are often due to delays in showing, responding to inquiries, or inefficient processes. Our team handles everything from showings to signed leases, cutting down vacancy time significantly.

Real Numbers, Real Results

One of our clients recently avoided 4 weeks of vacancy by allowing us to pre-market their unit, handle all inquiries, and get lease documents signed 2 weeks before the tenant moved out. That’s over $1,500 saved—plus peace of mind.

Let Us Help You Maximize Rental Income

At Living Legacy Property Management, our mission is to help owners reduce vacancy and increase rental revenue. We bring in pre-screened tenants, handle lease logistics, and maintain your unit—all with transparency and professionalism.

Ready to stop losing money on vacancies?
Let’s talk today about how we can keep your property rented, stress-free.

Tags: #RentalTips #LandlordHelp #BaltimoreRentals #PropertyManagement #ReduceVacancy #LivingLegacy

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