When you find yourself with many winter vacancies, finding a tenant for your H Street Corridor rental home can be a challenge. But even with the slow market during the winter months, there are still many things you can do to attract future tenants to your property. The key is making your property appealing enough to help your rental home stand out. These tips can make your rental home desirable to tenants, even during winter.
One popular way to fill a winter vacancy is to market seasonally. Even when standard marketing tactics work fine the rest of the year, you have to do even more if you want to attract tenants in the winter. Post in places you usually don’t and expand your audience. You can also have photographs of your property done by a professional, like Real Property Management Washington DC, or you could hire someone to write some great ad copy for you. To attract more potential tenants, you should go beyond the usual marketing efforts.
Offer Favorable Terms
Your H Street Corridor rental property is also more likely to be rented in the winter if you can offer your tenants more favorable terms. If your property has many inquiries but few applications, you might want to review your lease documents. If your lease still looks good, you might want to consider loosening up your terms. Even small adjustments can make a big difference. Sometimes it can be something as simple as allowing pets and making your property pet friendly, and new tenants would come and look. Other terms, like lease length, could also be an issue. Shorter leases let you fill vacancies easily and it also allows you to re-lease the property in a busier spring or summer month.
You can also gain more interest in your rental home if you offer one or more incentives to renters. There are many options to choose from. Assess your property and see if your tenant could benefit from a gift card, a wholesale membership, or local freebies in your area. You can also think about reducing their rental rate or making their first month of stay rent-free. Comparatively, giving up one month’s rent makes your annual cash flows healthier than if your rental home just stays vacant all winter long.
Additional help goes a long way in effectively marketing your rental property during the winter. There is nothing more effective than word-of-mouth advertising, even professionals swear by it. You can always use that to your benefit! Ask your friends or family if they know people who are looking for a rental home. When you create a social media post about your rental, ask your friends to share it with others. A property management company can also find you your next tenant. Property management brands have a wide audience and many resources they can tap into to find tenants efficiently during seasons like this.
Indeed, it can be challenging to fill a winter vacancy, but it can be made possible when you use the right tools. Would you like to learn more about how professional property management could help you reduce vacancies and increase your H Street Corridor rental homes’ profitability? Contact us today or call us at 202-813-9993.
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