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One thing you can do to minimise vacancies is to be sure that the rental is set at the correct rate. When the vacancy rate is higher, we prefer to set the rent just slightly under the going rate - it's amazing how many times tenants choosing between properties will go for the one that is $5 pw...

Our record time between tenants is 2 hours. And only that because PM insisted on the break as she had to do a property exit/entry report. Seriously, as soon as a tenant gives notice the search for a new tenant begins and we usually have a new tenant lined up before the departing tenant...