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Fact, moving during the winter is more difficult for renters. This means landlords should expect and prepare for less activity in the rental market from Thanksgiving through the start of April here in Connecticut. Of course, the easiest way to avoid filling vacancies in the winter months would be to align your lease’s end dates with the prime summer rental season, but things don\u2019t always go as planned. If you end up with a tenant who wants to move out in the middle of winter then, what can you do to help fill that upcoming vacancy fast? Here are five simple strategies for you to try:<\/span><\/p>\n In order for your off-peak listing to stand out during the winter, why not try and highlight some of the key (and cozy) features of the property? If the home is close to transit for easy commutes during the winter, let people know that…nobody wants to walk miles to the bus stop in the snow! If your unit has a working fireplace and a warm inviting atmosphere, highlight those features too. Make your listing sound like a home they\u2019ll want to be in for the holiday season. And don\u2019t forget, you should also highlight features that will become useful again when the weather changes, like a large backyard or nearby parks. Don’t leave something out that could attract just the right candidate at a time when less of them are searching!<\/span><\/p>\n Please, landlords, update the darn photos. We need to make your property look as attractive as possible and that often starts with a visual. Just because your property is being listed in winter, doesn\u2019t mean you need to post photos of a snow covered driveway. Plan ahead to get high quality images of your units during the summer months. This way people can picture themselves living there during the nicer parts of the year too.<\/span><\/p>\n 3. Sweeten the Pot (Offer Incentives)<\/p>\n Another trick that landlords use to fill off-peak vacancies is to offer lease incentives! You\u2019re not a retail store, so you can\u2019t give out 2 for the price of 1, but here are a few effective incentives we use at RCW & Co. when we need to fill a vacancy fast: As we mentioned before, people simply have less desire to move during the winter. This means the tenant pool gets smaller and more difficult to attract. Landlords should consider being more flexible in their requirements then to accommodate for less rental activity. If you don\u2019t allow pets, maybe this is a time to consider, since stats show that more than 50% of renters now own an animal of some kind. This prevents you, as a landlord, from narrowing the selection options further than necessary!<\/span><\/p>\n As soon as you know a vacancy is coming\u2026market your listing and begin showing it (even with tenants still there)! Many landlords make the mistake of listing their units only when the tenants have completely vacated and left them with an empty unit. An empty unit in the winter is even worse than normal though, because not only will the landlord miss out on rental income, they\u2019ll also have to pay to heat the home and keep pipes from freezing. Smart owners get ahead of the curve by marketing the listing while the current tenants are still completing their move out! If you can show your property to prospective tenants while you still have someone in place, you may even have a chance to eliminate vacancy altogether.<\/span><\/p>\n Don’t hesitate to try these offers, incentives, and tricks! The longer you wait to implement them, the more vacancy you’ll see. Don’t get caught off guard this winter if you end up with a tenant that requests to move out unexpectedly. Or, you can always give us a call<\/span>
1. Highlight Listing Features<\/span><\/p>\n
2. Update Listing Photos & Video<\/span><\/p>\n
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\n<\/span>If possible, you should also shoot a quick video tour of your property! Video can multiply the number of interactions and interest you get quite a bit. Feel free to check out one of our short tours<\/span>
\n<\/span>here<\/a>, they really don\u2019t need to be fancy.<\/span>
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4. Add Flexibility to Your Lease Terms<\/span><\/p>\n
You can also offer lease options with shorter (or longer) terms. These can be a benefit to both the tenant and the landlord. Say a landlord signs a 6 month lease with someone in December instead of the typical 12 month term. The landlord now gives themselves the chance to re-market the property during peak rental season! It also means the renters have a shorter commitment with more flexibility.<\/span><\/p>\n
5. Show with Tenants in Place<\/span><\/p>\n
\n<\/span>here at RCW<\/a>! We have the highest rated property management and leasing team in the state, and we know how to find quality tenants quickly.<\/span>
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