When you find yourself with many winter vacancies, finding a tenant for your Dartmouth 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. Making your rental home stand out is key if you want your property to interest new tenants. The following tips can help raise your rental home’s desirability and entice tenants even during the winter.
Seasonal Marketing
One popular way to fill a winter vacancy is to market seasonally. While standard marketing tactics may work the rest of the year, attracting tenants in the winter takes a whole lot more. When you post in places you don’t normally do, you expand your audience. Hiring a professional, like Real Property Management Success, can also help a lot as they can photograph your property and write great ad copy for you. When you go beyond your usual marketing efforts you attract more potential tenants for your property.
Offer Favorable Terms
Offering favorable terms to potential tenants also increases your chances of renting out your Dartmouth rental property in the winter. Having way more inquiries than applications could mean it is time for your lease documents to be reviewed. If your lease seems ok, you might want to loosen up your terms. Even just minor tweaks can make a difference. If you used to not allow pets, making your property pet-friendly will attract new tenants. Other terms, like lease length, could also be an issue. Temporarily shorter leases could help you fill that vacancy immediately, giving you the option to renew the lease on the property in the spring or summer.
Add Incentives
By offering one or more incentives, you can make your rental home more attractive to future renters. You can take your pick from many creative options. Assess your property and see if your tenant could benefit from a gift card, a wholesale membership, or local freebies in your area. Another option is to offer a reduced rental rate or even to make their first month’s stay rent-free. It might look like a lot of money, but giving up one month’s rent will give you better annual cash flows than allowing your rental home to stay vacant for the entire winter.
Enlist Help
To make marketing your rental property during the winter more effective, you can get additional help. Professionals always say that word-of-mouth is the best advertising tool. Use it to your advantage! Ask willing friends or family to recommend your property to their friends who are looking for a rental home. You can also use your social media accounts by posting about your rental and asking your friends to share the post 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.
With the right tools and action plans, you can fill that winter vacancy. Would you like to learn more about how professional property management could help you reduce vacancies and increase your Dartmouth rental homes’ profitability? Contact us today or call us at 908-239-7579.
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.
