What to Do if Your Boston Apartment for Rent is Still on the Market for 9/1?

If you’re a landlord, a vacant Boston apartment for rent is not making you any money. It’s costing you money each day that the unit sits empty. Mathematically speaking, it is extremely difficult to catch up financially within an 18-month period if your apartment stays vacant for one month. In fact, the only real way to catch up is to start looking at value add strategies to create a better long-term outcome.

Having a Greater Boston apartment that is vacant can cause a tremendous amount of stress, to say the least. Quickly filling those vacancies is essential for any successful real estate rental portfolio or business. Finding some tactics that will make a real impact can often be unsettling; especially in a tight labor market with rising inflation. Nobody ever said the real estate game is easy. If it was, everyone would be investing in Boston apartments for rent.

You need to have the ability and mindset to think outside of the average real estate box to succeed. Otherwise, your units may very well sit empty for several months, not just the September 1st rental market. Deploying rapid action and care to your vacant apartments is crucial for your overall success. The good news is demand is extremely strong at the moment, and inventory is lower than it’s ever been. The real- time availability rate in the city of Boston is 0.76%, and only 0.24% of Boston apartments are vacant. This means with just a few strategic moves your apartment for rent will soon be leased. In fact, if you reposition the asset with careful and thoughtful improvements, you could very well see the highest rent roll your property has ever delivered.

So, what can you do if your Boston apartment for rent is still available a couple of days before 9/1? First, don’t despair. Here are some actionable steps you can take…