A tenant in our 4 unit let us know she is moving out of state at the end of August. She gave us the 1 month notice we required. So what to do if one of your tenants is to leave? Put an ad up asap, and kaboom! I found out she was leaving just last night. And what did I do? I put a post up on craigslist around 11pm last night of an apt. for rent, not only that but I just raised what the current tenant was paying by $120 It is now 2:30pm and in less than 24 hours I got about 7 calls and emails from many people, most willing to sign a year lease and all willing to pay what we are asking. Looks like we will be showing the apt. to anxious people this weekend. By doing what we just did, didn't even have to pay for an ad in a paper or anything, we will be increasing our cash flow by $120 a month! I look forward to posting when we have a lease signed.
Some people would freak out and get nervous a tenant is leaving, but you must look at this as an opportunity to better your profits. And we will not be losing any money, because as soon as the current tenant leaves, I have people looking to move in asap. We raise our cash flow, out tenants will get the apt they need, it does not get better! Anyone can do this!
This train, Dreams will not be thwarted
This train, Faith will be rewarded
Big wheel roll through fields where sunlight streams
Meet me in the Land Of Hope And Dreams