How Long Should You Hold Vacant Properties

29 Mar How Long Should You Hold Vacant Properties

When you’re trying to lease a vacant property to a new tenant, how long should you be willing to wait for a new tenant to move in? In other words, how long should you be okay accepting no rent on the property while the new tenant prepares for their move? In a perfect world, you’d have no vacancy at all, but reality demands that there will be some vacancy for every rental. How much can depend on you. In this video, we’ll discuss when it is a good idea to intentionally allow for a longer vacancy period in order to place a high quality tenant, what the maximum amount of time is that you should wait, and what you can do to try strike a balance between maximizing your landlord clients cash flow while keeping their risks low by placing a quality tenant.

Ben Parham

Founder at Property Management Training Headquarters

Ben Parham is the Founder of Property Management Training Headquarters as well as the President and Managing Real Estate Broker of Integrity Realty & Management, Inc., a cutting edge real estate sales and property management brokerage operating throughout the Greater Denver Area. Ben served as the 2018 President of the Denver Chapter of the National Association of Residential Property Managers (NARPM) and currently serves NARPM National as a Southwest RVP Ambassador. Ben is a U.S. Navy veteran where he was a Cryptologic Technician (Technical) and was awarded the Joint Service Achievement Medal, two Navy Achievement Medals, and a Good Conduct Medal. He has a Bachelor of Science in Business Administration and is licensed as a real estate broker in both Colorado and Florida.