If circumstances lead to winter vacancies, you might have some challenges finding a tenant for your Burlingame rental home. Even as the market usually slows down during the winter, you can still do a lot to attract potential tenants to your property. The key is to ensure your rental home stands out because of how appealing your property is. These tips can make your rental home desirable to tenants, even during winter.
One of the usual ways to fill winter vacancies is to market seasonally. You need a bit more than the standard marketing tactics to attract tenants in the winter. You can expand your audience by expanding the scope of where you post. Hiring a professional, like Real Property Management Mid Peninsula, to photograph your property or write a great ad copy for you will also help a lot. Doing extra marketing activities can increase your chances of attracting potential tenants to lease your property.
Offer Favorable Terms
You can also get your Burlingame rental property rented in winter by offering favorable terms to potential tenants. If your property has many inquiries but few applications, you might want to review your lease documents. If your lease looks solid, it could be time to loosen up the terms. Even minor revisions can make a huge difference. For example, just changing your policy from not allowing pets to making your rental home pet-friendly could attract more tenants. You can also look into changing other terms such as lease length. You can fill vacancies easier if you offer shorter leases, and it will give you the option to re-lease the property during the busier spring or summer months.
You can make your home more interesting to renters by offering one or more incentives. There are many options to choose from. Some ideas include offering your tenant a gift card, a wholesale membership, or local freebies. You can also think about reducing their rental rate or making their first month of stay rent-free. It would seem like a lot of money, but losing one month’s rent is way better for your annual cash flows than letting your rental home stay vacant the entire winter.
Additional help goes a long way in effectively marketing your rental property during the winter. According to sales professionals, word-of-mouth is the best advertisement. Take advantage of that! Your friends and families can recommend your property to their friends who are looking for rental homes. Social media is also a big help! Create a post about your rental that your friends can share with others. Another great idea is to hire a property management company to find potential tenants for you. Large property management outfits have the resources to find you a tenant even during a slow season.
It can be challenging to fill a winter vacancy, but it is not impossible with the right tools and strategies. Would you like to learn more about how professional property management could help you reduce vacancies and increase your Burlingame rental homes’ profitability? Contact us today or call us at 650-696-1800.
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.