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Proven Strategies to Keep Your Units Rented Year-Round

Every day your rental property sits vacant is lost money. Not only are you not collecting rental income, but having vacancies significantly increases the amount of work you need to perform to run your business. For instance, after a tenant moves out, you need to perform a thorough inspection, clean the carpet, fix damages, and potentially even repaint the walls. However, with some proactive strategies, you can minimize your vacancy rate to enjoy a steady, year-round occupancy. The key is understanding what tenants want and making your property attractive.

If you’ve been struggling with vacancies mid-year, or you’re just tired of tenant turnover, here’s what you can do to solve the issue.

1. Hire a professional property manager

You’re probably aware that property managers collect rent and manage repairs and maintenance for their clients, but they also advertise vacancies, show empty units, and screen applicants. When you hire a property manager, you’re getting an expert on your side who knows exactly what tenants in your area want. For instance, the San Marcos property management pros from Green Residential routinely prepare rentals to attract quality tenants for their clients. Thorough screening is the only way to get the kind of tenants who stay long-term and are more likely to take good care of their home.

Attracting long-term tenants should be your go-to strategy for keeping your rental units occupied year-round. If your ads appeal to short-term tenants or you choose the wrong tenants, it will only increase your chances of getting a bad tenant who might bounce – or worse – someone you’ll need to evict through a lawsuit. 

Hiring a professional property manager will help you reduce the risk of these potential problems.

2. Price your rentals right

The amount you charge matters. When rent is too high, your unit will sit empty for a longer period of time. If rent is too low, you’re going to leave money on the table and potentially attract bad tenants. Do your research before listing a vacancy. Compare similar homes in your area on sites like Zillow, Rentometer, or Apartments.com and follow their lead.

It can help to adjust your rent seasonally as well. If you have a vacancy in winter when demand is typically lower, price your unit a little lower to get it rented. Likewise, price it competitively when demand surges in the spring and summer.

Last, don’t hesitate to offer move-in incentives instead of lowering the rent. You could offer one month of free rent or discount the security deposit slightly to sweeten the deal. Just make sure you don’t shortchange yourself on the deposit or offer free rent if it’s going to hurt you financially over the year.

3. Advertise early and often

Marketing your vacant rental property should happen as soon as possible. Don’t wait to list it even if you’re in the middle of a lease. The longer you wait, the longer it will take to rent it out.

If your current tenant isn’t going to renew their lease, start listing your property 30-45 days before the end of the lease to attract people who plan ahead. This will help you attract higher quality tenants rather than people who are in a desperate situation trying to jump into the first place they can find.

For the best results, advertise on every platform possible, including Zillow, Facebook Marketplace, Craigslist, and even local online groups. Wherever you advertise, include high-quality images and video walkthroughs to get more responses.

4. Boost curb appeal

Homes that look better rent faster. Pay attention to your curb appeal and spruce up the aesthetics as much as possible. Cut the grass, pull the weeds, and trim back tree branches and bushes. Make sure the windows are clean, and if your home’s exterior is in poor shape, fix what you can, even if it’s just adding a fresh coat of paint.

5. Upgrade key fixtures and features

While not every fixture or feature inside a home is a wise investment, some things will make or break your ability to rent it out. If your home isn’t renting fast enough, start by addressing the lighting, upgrading appliances, and making sure all bathroom and kitchen fixtures work properly.

Stay profitable with a strategy

Vacancies are unavoidable, but they don’t need to carry on long enough to ruin your cash flow. To keep your property full year-round, price it wisely, market effectively, be flexible, and treat your tenants well. Whether you manage one unit or fifty, these strategies will help you keep your rental business profitable year-round.