Property managers and landlords in highly desirable markets might not have much experience adjusting to lulls in occupancy.

Maybe you have prospective renters lined up, or maybe it’s a struggle to find ideal tenants when an opening becomes available. No matter what situation you face, however, it helps to know the ins and outs of maintaining rental occupancy. This way, you’ll be less likely to lose income that will impact your overall ROI. Consider these tips for an approach to rental occupancy that can withstand any market conditions.

Maintain an Online Presence

First, you’ll be best prepared to keep a unit occupied if you have an online presence established with which you can easily and conveniently market the property. This can mean a whole host of things for property managers in the digital age.

First, there are your listing platforms. These are host sites like Zillow or Rent.com where you’ll advertise to tenants who are used to exploring sites like these for their next housing opportunity. By establishing a trustworthy profile online, you position yourself to broaden your audience.

Then, you’ll need to consider pay-per-click (PPC) marketing. These clickable ads will bring traffic to your sites, services, and listing. But they come at a cost.

Additionally, social media and local information services will be necessary tools for maintaining a visible presence online. Apply these tools with consistent branding and quality to attract your ideal tenants. From here, you’ll need to maintain tenant interest in the property.

Maintain Tenant Interest

Maintaining occupancy in a rental property requires that you make that unit desirable for tenants long-term. Physical maintenance is an aspect of this, as is building a respectful relationship with your tenants. Other renter incentives can help keep renters interested enough in the home and their opportunities as a renter that they’ll stay where they are.

Start with a proactive approach to property care. Schedule regular inspections, and respond to tenant maintenance requests as quickly as possible. Not only will this help prevent larger damages to the unit, but it will also increase your renter’s opinion of your management style.

From here, further tenant satisfaction with rental anniversary gifts or a program that rewards tenants for on-time rent and long residency. These rewards could come in the form of discounted rent for a month, gift baskets, gift cards, or any other perk a tenant might actually appreciate. With tenants that feel appreciated, you’ll have a better chance of receiving good referrals and keeping good renters for longer. Then, no matter market conditions, you’ll have a competitive edge over other landlords and property managers.

Maintain Unit Appearances

However, you’ll need to keep up unit appearances if you want initial interest to translate into a long-term tenant-ship. This entails upgrading and polishing unit amenities to provide real value for renters.

When lulls occur in tenant availability, finding someone who fits your criteria without having to compromise your target revenues is a matter of wowing them. One great way to do this is to spruce up the tour path you’ll take up to and through the property. 

This means upping the curb appeal. Enhance the landscaping, plant flowers, add decorations, or mini-model units with simple extras. You could even allow tenants to keep these extras as a perk of moving in. With a beautiful, well-maintained property, you won’t have much trouble finding tenants who will want to live in and take good care of the property, regardless of how the larger economy performs.

Maintain Optimal Occupancy

Rental managers won’t have to worry too much about higher vacancy rates in the market with these approaches to occupancy. Keeping renters in means creating as much value for your renters as they create for you. This takes digital visibility, incentives, and quality property maintenance.  

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