Sometimes finding a qualified tenant is not simple. If you have an unoccupied property you should immediately advertise your new availability, but be prepared to meet an onslaught of time wasters and flakes. Although some of the inquiries you will receive will be from genuine prospects, some people just have nothing better to do with their time. Since you can’t judge a book by its cover you will need to take all of your prospects at face value. Although pre-screening potential tenants will help you to avoid needlessly showing your properties, you will also risk alienating some people and you will also spend a lot more money.

While you probably first assumed that it would only take you a few weeks before you would be able to rent one of your unoccupied properties, it may actually take months. This is when you should use your unoccupied property insurance to help you to stay afloat. Hopefully, it will not take you much longer to find a good tenant but you still need to be able to provide for yourself in the meantime. Many landlords never have to use their unoccupied property insurance policies, but you should consider the risks before you decide whether or not purchasing a policy is in your best interest. You may be able to save money now if you go without an unoccupied property insurance policy, but if you ever find yourself without a tenant you may end up in a very difficult position as a result.