Decrease Vacancy With Creative Leasing Strategies

Decrease Vacancy With Creative Leasing Strategies

Ever feel like there are just too many empty apartments in your Denver area building? Are you struggling to find someone to call it home? You're not alone.

Property managers and landlords are constantly looking for the magic potion to make those "For Rent" signs disappear for good. But there's good news.

With a handful of rental leasing approaches, you can pivot from empty to engaged without breaking too much of a sweat. Let's explore some creative ways to banish vacancies and keep your property full.

Offer More Than Just Living Spaces

Realty marketing ideas don't have to be stale. Instead of just selling an apartment, sell a lifestyle. Host regular community events that make potential renters imagine themselves as part of a community.

Think cooking classes, movie nights, or fitness classes. If you're not sure what to offer, ask your current tenants what they want most from their living space.

Make a Great Impression Online

Having apartments for rent isn't enough if they're not catching potential tenant's eyes online. Investing in a creative website for your property is crucial.

Ensure that the site is easy to navigate, has high-quality images, and includes clear calls to action. Don't forget to highlight the unique features of your property that make it stand out from the rest.

Flexibility Is Your Friend

Sometimes life is unpredictable, and traditional one-year leases don't always fit everyone's timeline. Offering six-month leases or month-to-month options can be key to attracting new tenants.

This flexibility can help you fill Denver area vacancies more quickly and keep your property occupied year-round. By showing that you understand and can accommodate, you create an environment of trust that's incredibly inviting.

Reward and Excite

Offering a month of free rent or reduced security deposits can act as a powerful lure. Other creative examples include offering a free subscription to a streaming service or including utilities for the first few months.

The key is to make sure that whatever you're offering is something your target audience will want. If you're not sure what that is, ask them! Do this by sending out a survey or simply asking people who come in for a tour.

Use the Power of Social Proof

When people see others are doing something, they're more likely to do it themselves. For this reason, testimonials and reviews are powerful.

If you have a lot of happy tenants in the Denver area, this can be a great way to attract new ones.

Use social proof to your advantage by including testimonials on your website and in your marketing materials. You can also ask current tenants if they'd be willing to write a review for you.

Rental Leasing: Cultivate a Thriving Community

If you have a lot of vacancies, it may be time to get creative with your rental leasing methods. You can tailor each of these strategies to fit the unique vibe of your Denver area community. With a knack for understanding what makes renters tick, those vacancies might just become a thing of the past.

As part of an award-winning property management franchise, PMI Aspire provides peace of mind that every effort is being made to keep your homes occupied and well-maintained. If you need a team of experts to find the right people for your properties, contact us today!