How we manage vacancies

  • Tags: Property Management

Host: I’m talking to Dot Hamilton, Property Management Director for First National Palm Beach…and how they manage vacancies and save landlords money. First National Palm Beach always seems to produce outstandingly low vacancy rates, how do you do it?

Dot: David, traditionally our vacancy rates run between 1 – 1.5%. We have a database of more than 5000 prospective tenants to which we add 20-30 new tenants everyday. That database is available for them to add to, 24 hours a day, 7 days a week. 97% of prospective tenants now have some form of electronic communication… albeit email, mobile phones…whatever. So we try and capture that information and get our information regarding new tenancies and new properties out to them as quickly as we can.
HOST: So it isn’t just a low vacancy turnover?
Dot: Absolutely not. No, for example last month we did 95 open houses. Of that, we processed 71 applications, and of those 71 applications we had 23 successful tenancies sign up, to move in last month. So it’s very proactive leasing. It’s all about getting ourselves out there; getting the properties out there to the tenants and getting them through and getting the applications. That’s what the secret is. How We Manage Vacancies
First National Palm Beach
15 Palm Beach Ave Palm Beach, Queensland 4221
Phone: 07 5559 9600