Every landlord knows that a steady rental income and a well-kept property are the foundation of a successful investment. But what happens in the gap between tenants? That time—often called the “vacancy period”—can quietly become one of the riskiest phases in a rental property's life cycle.
A vacant unit isn’t just sitting idle; it’s exposed to everything from security issues to maintenance surprises and financial setbacks. That’s where vacant property management comes in. With the right approach, you can protect your investment, cut down on potential costs, and make sure your property is ready for its next occupant.
Here’s what to know—and do—when your property is between tenants.
Why Vacant Properties Need Attention
An unoccupied home might look fine from the outside, but without anyone living there, it’s much more vulnerable than you think.
- Security Risks
Vacant homes are magnets for trouble—vandalism, theft, even unauthorized occupants. It doesn’t take much for a broken window or stolen appliance to rack up thousands in repairs. In more extreme cases, squatters can move in, leading to legal headaches and months of delays in getting the property back.
- Maintenance That Goes Unnoticed
With no tenant to flag issues, small problems can grow fast. A dripping faucet can flood a room. A clogged gutter might lead to roof or foundation damage. Pest problems, electrical issues, and even mold can go unchecked for weeks or months. Regular inspections and upkeep are your best defense.
- Insurance Complications
Many insurance policies include time limits on vacancy coverage—often 30 to 60 days. If you don’t notify your insurer or add proper coverage, you might be out of luck when damage occurs. And even if the home is empty, you can still be held liable if someone gets injured on the property.
- Lost Rental Income
Of course, the most obvious cost of a vacant unit is the lack of income. Every day the property sits empty is money you’re not making—but the mortgage, taxes, and insurance don’t take a break.
In fact, the numbers paint a sobering picture:
- As of late 2024, the national rental vacancy rate was 6.9%, with parts of the South reaching as high as 10.6%, while the Northeast saw rates as low as 4.9%.
- A single month of vacancy can cost landlords between $2,500 and $5,000, depending on lost rent, utilities, maintenance, and turnover-related repairs.
- On average, even a modest vacancy on a $1,500/month unit can lead to $2,750–$3,000 in direct and indirect expenses.
When you’re looking at those kinds of losses, managing the vacancy period isn’t optional—it’s essential.
A Smarter Approach to Managing Vacant Properties
Good vacant property management isn’t just about reacting to problems—it’s about staying ahead of them. Here's what that looks like in practice.
Pre-Move-Out and Post-Move-Out Walkthroughs
Start before your tenant even moves out. A pre-move-out inspection gives you a head start on repairs or cleaning. After they leave, a full walkthrough helps document the property’s condition, take photos, and note anything that needs fixing or replacing. This is also when you'll determine if any part of the security deposit will be used for damages.
Deep Cleaning and Timely Repairs
A clean, well-maintained property is key to attracting great tenants. Schedule a full deep clean—carpets, appliances, baseboards, the works. Make any needed repairs quickly, and consider low-cost upgrades that boost appeal, like fresh paint or updated hardware.
Lock It Down
Security matters. Make sure doors and windows are locked, and consider installing motion lights or a security system (even a video doorbell helps). In high-risk areas, take extra precautions—like boarding up windows or adding additional locks. Drive by or check in regularly.
Weekly Check-Ins
Make a habit of inspecting the property at least once a week. This helps you catch leaks, pest activity, or signs of trespassing early. Test the utilities, check for signs of weather damage, and document anything that changes. These quick visits can save you thousands in repairs down the line.
Utility Management
Decide which utilities stay on during the vacancy. Keeping the lights and water running makes showings easier and helps with cleaning and repairs. In colder climates, you may need the heat on to prevent frozen pipes. Just be sure to monitor usage and turn off unnecessary appliances.
When to Bring in the Pros
Managing a vacant property well takes time, consistency, and know-how. That’s why many landlords hand it off to professionals. Partnering with a company that offers property management solutions for landlords can help take the stress and guesswork out of the process.
Here’s what they bring to the table:
Smarter Marketing and Tenant Screening
Good property managers know the local rental market inside and out. They’ll help you set a competitive price, market your listing on the right platforms, and screen applicants carefully—credit, background, rental history—all to make sure your next tenant is a good one.
Systems That Work While You Don’t
From regular inspections and scheduling repairs to keeping the property secure, professional managers follow established checklists and routines. They work with vetted contractors and vendors, so you’re not scrambling to find someone trustworthy when something breaks.
Legal Know-How
Landlord-tenant laws change often, and staying compliant takes work. A professional manager can handle everything from lease updates to security deposit regulations, protecting you from costly missteps or legal disputes.
Peace of Mind
At the end of the day, the biggest benefit might be simply knowing that your property is in good hands. With a single point of contact, you’re not fielding maintenance calls or worrying about drive-by inspections. You’re free to focus on the bigger picture of growing your investment.
Need help managing your property during vacancy periods?
Vacancy periods are part of the rental cycle—but they don’t have to be a liability. With the right approach, they can actually be an opportunity to refresh your property and attract better tenants.
Whether you manage things yourself or rely on professional property management solutions for landlords, the key is to stay proactive. Protect the property. Limit the downtime. And set yourself up for a smoother, more profitable rental experience.
Your rental doesn’t stop being an investment just because it’s empty. With smart vacant property management, it can keep working for you—even between tenants.
At The Joseph Group, we specialize in full-service property management designed to protect your investment and keep your rental performing at its best—even when it’s unoccupied. From marketing and maintenance to inspections and compliance, we handle the details so you don’t have to.
Get in touch with our team today to learn how we can simplify your vacancy management and maximize your rental income.
