When you find yourself with many winter vacancies, finding a tenant for your Downers Grove rental home can be a challenge. Even when the market typically slows down in the winter, there are still things you can do to attract tenants to your rental property. The key is making your property appealing enough to help your rental home stand out. With the following strategies, you can increase your rental home’s desirability and get tenants during the winter months.
One 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 DuPage Preferred, can also help a lot as they can photograph your property and write great ad copy for you. When you do more than the usual marketing efforts, the chances of you attracting more tenants also increase.
Offer Favorable Terms
Another tip to get your Downers Grove rental property rented during winter is to offer terms that would be more favorable to your potential tenants. If more inquiries are coming in than applications, it might mean that you need to review your lease documents. If your lease looks fine, it could be time to offer looser terms. Small changes can make a huge difference. Making your rental home pet-friendly will attract a new set of pet-loving tenants. The terms of the lease length can also something to consider. Shorter leases let you fill vacancies easily and it also allows you to re-lease the property in a busier spring or summer month.
By offering one or more incentives, you can make your rental home more attractive to future renters. There are many options to choose from. You can give your tenant a gift card, a wholesale membership, or local freebies. Another option is to offer a reduced rental rate or even to make their first month’s 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.
Another way to effectively market your rental property during the winter is to ask for help. There is nothing more effective than word-of-mouth advertising, even professionals swear by it. You can always use that to your benefit! You can always ask some friends who know someone looking for a rental home to suggest your 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. These property management brands have an established network of individuals and many resources that lets them find tenants even during slow seasons.
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 Downers Grove rental homes’ profitability? Contact us today or call us at 630-427-2200.
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