Are you worried about keeping your Orlando rental property filled?
When rental properties sit empty, owners lose valuable income. For vacation rentals, this loss is even higher due to the potential daily or weekly income.
To reduce vacancies, property owners can try creative leasing strategies. Read on for our greatest rental leasing tricks.
Use Eye-Catching Property Advertising
Many people search online for properties, so online ads are essential. Showcase unique features like the following:
- Pools
- Hot tubs
- Proximity to attractions
Consider using social media for advertising, too. Post photos and short videos of your property to highlight its best features. You can even create a virtual tour so potential renters can explore the property online.
Optimize Vacation Rental Management
Good vacation rental management is crucial for keeping properties rented. Responsive and friendly communication helps build a good reputation, which attracts more guests. Many potential renters appreciate prompt replies and detailed information.
Consider using software tools for managing the following:
- Bookings
- Calendars
- Communication with guests
Another important part of rental management is offering flexible check-in and check-out times. For example, some guests might need to arrive late at night, while others might need an early check-in.
Offer Flexible Lease Agreements
Traditional lease agreements are often rigid. However, flexible lease agreements can attract more renters. For example, consider offering shorter-term leases, especially if the rental market in the area supports it.
Monthly or even weekly lease agreements can help attract people looking for temporary housing, like digital nomads, business travelers, or families on extended vacations.
Lease agreements can also be adjusted to offer special discounts for longer stays. Offering a discount for tenants who sign a six-month lease rather than a one-month lease, for example, can encourage longer-term renters.
Use Innovative Property Income Strategies
Innovative income strategies can help fill vacancies and increase income. One way is to adjust rental prices based on seasonality.
For vacation rentals, high seasons often bring in more guests, but during low seasons, consider lowering the rental price to attract more bookings. Offering package deals, like a "stay three nights, get one free" offer, can attract people looking for a deal.
If the property is vacant for long periods, consider short-term rentals. Short-term rentals are often more profitable per day than long-term leases.
Focus on Real Estate Listing Quality
When creating a listing, make sure it provides clear information on the following:
- Pricing
- Amenities
- Availability
High-quality listings build trust, and renters are more likely to book properties with clear and honest descriptions. Additionally, using accurate keywords in listings, such as "near downtown," "family-friendly," or "pet-friendly," can help the property appear in more search results. This simple tactic can boost the property's visibility and help fill vacancies.
Do You Need Help with Rental Leasing?
Managing rental leasing can be tricky in both a competitive and slow area. Using these leasing tricks will ensure your property is always full.
Has running your Orlando rental property business been tough? Contact PMI Orlando Parks to see how our property management services can help. Our team has over 30 years of combined management experience.
