During the holidays, filling in vacancies can be challenging for many landlords. This is due to many prospective tenants prioritizing holiday expenses, or traveling. In a competitive market, landlords need to come up with unique strategies to stand out.
Property management companies can implement these efforts effectively, by leveraging their experience and resources to attract tenants, this can save you time and stress while letting you celebrate the holidays.
Today, we’ll go over the top five strategies landlords use to obtain new tenants during the winter months.
Consider offering shorter-term leases if you’re struggling to fill a vacancy during the holidays. This strategy can attract prospective tenants who may be hesitant to commit to long-term housing. Having this flexibility can appeal to people in need of a temporary rental for seasonal work, or those who are only in Long Beach for the holiday months. By offering these adaptable lease options, struggling landlords can differentiate themselves from the competition and fill vacancies more efficiently during the holiday months.
Having flexible lease terms can also function as a stepping stone for long-term tenancy. While this is the exception, some tenants who initially seek a short-term rental may find that they enjoy either the rental property or Long Beach itself and decide to either extend their stay or search for more permanent residence. Allowing for flexible lease terms may also improve your reputation as a landlord who understands a tenant’s needs. Using this approach can not only help fill vacancies during a difficult season, but it can also establish a positive relationship with tenants. Which can potentially lead to more referrals and a stronger tenant retention rate over time.
During the holiday season, many landlords looking to fill vacancies offer seasonal promotions or discounts. Some of these include a free first month of rent or waived application fees. Doing this may make your property more appealing during the winter as many prospective tenants are spending their earnings on the holidays. Offering these deals as a limited-time promotion can also create a sense of urgency, which can encourage prospective tenants to commit to your rental.
Additionally, seasonal promotions can help establish goodwill with new tenants. Which can lead to a positive landlord-tenant relationship. These incentives show prospective tenants that you, as a landlord, understand that the holidays bring with it some financial strain, which ultimately makes your rental property more appealing. Consider pairing seasonal promotions with other perks such as flexible move-in dates to further improve the appeal of your rental.
Decorating your rental property with tasteful holiday decorations can help improve the appeal of your property during the winter months. Especially for rentals with common areas, as this creates a more welcoming atmosphere while highlighting details that would otherwise be overlooked. These small touches can attract tenants seeking an inviting space with a sense of community. Consider having professional photos taken during the holidays to update any listing with the seasonal decorations, this way you can have great-looking photos for the appropriate time of year. Which can help your rental property stand out in a competitive market.
High-quality photos are essential for showcasing your property. However, this isn't enough anymore, many online listings have options for video tours alongside the photos. Take advantage of this feature during the holidays to highlight warm, cozy interiors that can otherwise be missed through photos. Virtual tours create a strong first impression, which may help your property stand out against the competition. Property management companies often offer professional marketing services in case you don't have the resources. This ensures your property is presented at its best, an overall small investment may attract more prospective tenants and maximizes your chances of filling vacancies during the holidays.
By implementing these strategies, you can have your property stand out even during the slower winter months. If you’re looking to save time while filling difficult vacancies or if you need help managing Beach City rental property, we invite you to call us today at (562) 888-0247 or complete our
Owner Application online.