Renting during off season can be a tricky task if you don’t already have a tenant base or presence in the area. However, every day that a rental property sits empty is a day that your pocket is being drained. Here are some creative ways that Red Umbrella has utilized to help attract tenants when renting off season.
Lower the Rent
Everyone loves a sale and feeling like they are getting a bargain, so lowering the rent to attract off season tenants is a great idea. If you have current tenants you want to entice to stay during off season, consider offering them a lower monthly rent for the slow months. If you want to attract new tenants, offer a lower initial rent or even a free month of rent with the signing of a six month or one year lease. Even if you take a hit, you will be getting rent that you wouldn’t get if the property was sitting empty.
Pick Up the Utility Tab
If you already handle the utilities for your property, consider offering a month of free electricity or free water to entice tenants. Offering free heat during the winter can be costly, but again—it’s better than having properties sit empty for months! A great way that we strive to set ourselves apart is by offering things that our competitors aren’t, so we take the time to survey the area and see what deals other rental properties are offering.
Add Some Amenities
When people choose a hotel, they examine the amenities that are offered. Choosing an apartment or rental property can be the same! Try to offer your tenants things that they would normally see at higher-rent or luxury properties to entice them to rent. Even if you just offer the promotion for a couple months, it will fill up empty properties and start putting money back in your pocket again.
Property Management with Red Umbrella
We look forward to working with you to meet any and all of your property management needs. Whether you need full service property management or just a few a la carte services here and there, we will be there whenever you need us. We offer service around the clock, so give us a call today at (443) 995-0628 or shoot us an email at firstname.lastname@example.org. Let us show you how easy and effective our property management services are! We offer service throughout Anne Arundel County, including the following locations: Severna Park, Pasadena, Annapolis, Linthicum, Glen Burnie, Edgewater, Arnold, Davidsonville, Severn, Millersville, Crownsville, Odenton, and Crofton.