As the holidays quickly approach, you may be looking at your empty rental units as a big expense for the next couple of months. Although it may not be the ideal time for people to make a move, you could still find the ideal tenant(s) during the holiday season.
Getting Empty Units Rented During the Holidays
While many people don’t like to move during the time between Thanksgiving and Christmas, there are some strategies that you can use to help yourself get the incoming cash flow you need, and take empty units off the books.
One method is to provide various perks that may drive potential tenants your way. For instance, offer to pay the tenant’s gas or electric bill for the next few months. Likewise, you could provide the tenant with free cable TV for several months.
Going forward, there are also some things that you can do throughout the year to make the holiday season less stressful due to non-rented units. For example, you could time your leases so that they don’t end during November or December. In this case, if you have a tenant who moves in during this time of year, provide them with an 18-month lease. You could possibly lower their rental amount by $25 or $50 per month as an incentive.
In any case, it is still important to ensure that you are enticing good, quality tenants to your properties, as just simply “filling a vacancy” can sometimes end up backfiring with an eventual eviction.
Working in conjunction with a property manager can also help to take some of the stress off of you in terms of both finding and managing your tenants, as well as running credit checks and other necessities prior to getting a unit leased.
If you own rental property in Orlando or the Central Florida area and you would like more information on the benefits of using a property management service, Contact Us today.