When buying an investment apartment, location is important but so are your property’s aspect, views and features. An ordinary apartment is harder to lease than a distinctive one that offers some charm. A quality property in a quality location will also deliver capital growth in the medium term.

The REIA reported that the rental vacancy rate for the last 2013 quarter was 3.9%, down from 4.5% for the previous quarter. So what can you do if your investment property falls vacant for a month?

Use the vacancy as a chance to catch up on maintenance and minor improvements. Painting the walls and updating the bathroom mirror and professionally cleaning the carpet, windows and stove may make your property more attractive to renters. Accepting a lower rent for a longer lease is another option. Ideally, arrange to have a lease expire in November or mid-January rather than early December, when it is often more difficult to find tenants. When renters have many premises to choose from, make sure yours presents well, is priced fairly and is well marketed.