Seasonal Marketing
Seasonal marketing is an effective way to fill winter vacancies. You need a bit more than the standard marketing tactics to attract tenants in the winter. Posting in new places will immediately expand your audience. Hiring a professional, like Real Property Management Dominion, to photograph your property or write a great ad copy for you will also help a lot. If you want to attract more tenants, you have to go beyond your usual marketing efforts.
Offer Favorable Terms
You can also get your Williamsburg rental property rented in winter by offering favorable terms to potential tenants. Having way more inquiries than applications could mean it is time for your lease documents to be reviewed. If your lease looks solid, it could be time to loosen up the 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. You can also consider other terms like the 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.
Add Incentives
Offers of one or more incentives can make a rental home more attractive to renters. You can choose from many different creative options. Some of these include giving your tenant a gift card, a wholesale membership, or local freebies. You can reduce their rental rate or give their first month’s rental for free. In contrast, giving up one month’s rent is actually better for your annual cash flows than just letting your rental home stay vacant the whole winter.
Enlist Help
Your rental property will benefit from additional marketing help during the winter. Professionals always tell us that word-of-mouth advertising is the best there is. Take advantage of that! You can always ask some friends who know someone looking for a rental home to suggest your rental home. You can also post on social media about your rental and ask your friends to share it with others. Another great idea is to hire a property management company to find potential tenants for you. These property management outfits have established resources and a wide audience that makes it easier for them to find tenants even during the slow season.
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 Williamsburg rental homes’ profitability? Contact us today or call us at 757-395-4274.