As a landlord, you know that an empty property is a drain on your wallet. When tenants move out, it's in your best interest to get the property rented as soon as possible. The following tips can help you do just that so that you can avoid the cash drain of a rental sitting empty.

Tip #1: Prepare it fast

You need to be at the home within a few hours of the tenants vacating. The best way to ensure this is to pick up the keys personally so you can do your walk-through of the property right away. As soon as you are done, it's time to get on the phone. In the best-case scenario, you will only need to call the cleaners to come through and scrub the place down and shampoo carpets. If there is damage, first bring in the work crew, and then bring in the cleaners. Unless the damage is extensive, try to have the place ready to show within 24 hours when possible.

Tip #2: Price it right

The search for a new tenant may also require a price adjustment. Check properties of similar size and condition in your area to see how much they are renting for. Your property should fall well within those parameters if you want it to rent quickly. People will pass it by if you rent for higher, and you are only robbing yourself if you rent it for much less than competing properties.

Tip #3: Advertise effectively

Most modern renters check for rentals using three mediums—social media, online ads, and drives through the neighborhood in which they want to live. For social media, post on neighborhood Facebook or other social media pages that you have a rental available. Other common online ad services include Craigslist and even your paper's digital classifieds. Finally, make sure there is a highly visible sign on the property. Much like cleaning, you want to get ads up within 24 hours.

Tip #4: Show it immediately

You are competing for tenants, so when one calls requesting a showing, it's important that you schedule it for as soon as possible. Waiting simply means that they may have a another showing scheduled in the interim, and they may rent that one instead. Have a plan to show at the earliest convenience, and bring your application paperwork with you so you can begin the process and start closing the deal right after the showing.

If you have another job or are simply busy, all this dedicated time may be difficult. In this case, consider hiring a property-management firm. They can arrange for cleanings and repairs and begin advertising the property as soon as they get notice that the tenants are moving out. This way you won't miss work or need to drive across town several times a day to show a property.