The True Cost of Vacancy: Why Every Empty Day Hurts Your Bottom Line
Owning a rental property is all about maximizing your return; but every day your unit sits empty, it quietly chips away at your profits. Many landlords focus on visible expenses like repairs or tenant turnover, but the cost of vacancy often flies under the radar. Here’s what those empty days are really costing you and how Richmond Property Management helps you avoid them.
It’s Not Just Missed Rent, It’s Compound Loss
When a unit is vacant, you’re not just missing out on rent, you’re still paying:
Mortgage payments
Property taxes
Utilities (especially if you’ve left the heat or electricity on)
Insurance
Maintenance or cleaning to keep the property show-ready
Example: A $1,800/month rental sitting vacant for 30 days means a direct loss of $1,800 but if your monthly carrying costs are $700, your total loss is actually $2,500 for that month.
The Longer It Sits, the Harder It Gets to Rent
Vacancy isn’t just expensive, it’s risky. Properties that sit too long:
Can attract vandalism or squatters
May raise questions from prospective tenants (“Why hasn’t this rented yet?”)
Start to show wear from lack of use or upkeep
Lose traction on listing platforms due to algorithm demotion
Why Owners Sometimes (Accidentally) Cause Vacancies
Many landlords inadvertently increase their vacancy period by:
Setting rent too high for the market
Using poor-quality photos or listings
Not responding quickly to inquiries
Waiting too long between tenants to start advertising
Even a well-kept unit can go unfilled if the listing strategy isn’t proactive.
How Richmond Property Management Minimizes Cost of Vacancy for Our Clients
Here’s how we help you fill units fast:
Accurate pricing based on real Windsor market data
Professional photography and staging
Fast listing turnaround with multiple online platforms
Quick response to inquiries and showings
Pre-screening to reduce application delays
Coordination of cleaning and minor repairs during tenant transitions
Many of our listings are re-rented within 7–14 days of a tenant moving out.
Every empty day costs you more than just rent. If your unit isn’t filled quickly , or if you’re waiting for the “perfect” tenant while losing thousands; it might be time to work with a team that puts speed and strategy first.
Let Richmond PM help you reduce vacancy, price your rental right, and protect your cash flow.
info@richmondpm.ca
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