With the fall season quickly approaching, many investment property owners have concerns about finding good tenants for their vacancies. Similar to the process of selling a home in the fall and winter months, renters can be harder to find – especially those who have children that are just beginning a new school year (and don’t want to make a drastic change to a different school district).
The good news is that there are many ways to find tenants quickly – at any time of the year – as well as to better ensure that you won’t have vacancies in the winter months going forward. One way is to ask neighbors if they know of anyone who would like to move into the area. Oftentimes, people will recommend friends, family members or coworkers who may want to live in the same locale.
You could also offer various incentives to renters who move into your property during the slow months. For instance, paying the electric bill, or even reducing the amount of the monthly rent, can help to attract new tenants.
Another strategy you could use is timing your leases not to expire in the fall or winter months – even if it means extending the terms of the lease for longer than a year. Going this route can stop the “problem” of finding new tenants before it even starts!
If you’re feeling a bit pressed for time and trying to manage all the details of your rental properties on your own, it could be wise to consider hiring a property manager. By doing so, you can delegate a long list of tasks – including marketing and screening for potential new tenants.
So, if you own residential investment real estate in Central Florida, give us a call and we’ll provide you with all the information you need for determining whether or not a property management team will be a good fit.