Turnovers are expensive, and we always hate to lose tenants. When an occupancy pops up at a rental home, there’s the vacancy expense and the lost rent, but there’s also the investment that needs to be made in renovations and maintenance, aesthetics, marketing, and settling a new resident into place.
It’s time consuming, and depending on the season, it can also be a lengthy process.
That’s what can make the turnover process even more challenging: vacancies often coincide with seasonal slowdowns, like the winter months or the holiday season when fewer people are looking to move.
As professional property managers, we’ve found that with proactive planning and smart strategies, you can manage seasonal fluctuations and optimize your occupancy rates year-round.
Here’s how to keep your rental property consistently occupied, even during the slowest times of the year.
Understand the Seasonal Rental Cycle
All markets are cyclical, and the rental market tends to follow a seasonal rhythm. In California and throughout most of the country, the busiest rental seasons are spring and summer. Settling into a new home is much easier between May and August when school is out and schedules tend to be more flexible. A family with children will not want to move during the school year. The rental market tends to slow down in late fall and winter, with December and January often being the quietest months.
For rental property owners, this means that when leases end during slower seasons, the pool of potential tenants shrinks. If a tenant moves out in December, it could potentially take a couple of months to fill the vacancy, which is not ideal.
Optimize Occupancy by Adjusting Lease Dates to End Strategically
One of the simplest and most effective ways to mitigate seasonal vacancies is to adjust the end dates of your leases to align with high-demand periods. Adjust your lease start and end dates accordingly, instead of offering standard 12-month leases that expire whenever a tenant signs. Try offering lease terms that end between April and August.
For example, if someone signs a lease in October, offer a 10- or 16-month lease instead of a 12-month term, placing their move-out date in a peak rental season. This gives you a better chance of quickly filling the unit if they decide to leave after the lease ends.
Offer Renewal Incentives Before Slow Seasons
Tenant retention is always more cost-effective than turnover. Encouraging tenants to renew their lease agreements, especially before a slow season, can help avoid a dreaded winter vacancy. You might want to offer a modest rent discount for early renewal or a free upgrade, such as a smart thermostat or an appliance upgrade.
By incentivizing tenants to commit before the market slows, you reduce the risk of having an empty rental home when demand is at its lowest.
Maximize Marketing with Professional Photos and Virtual Tours
Marketing effectively can really make a difference, especially during the slow season. In early December, you need every competitive advantage that’s available. So, be strategic with your listings. One simple way to increase your listing’s appeal is with high-quality visuals. If you don’t already have professional photos or a 3D virtual tour of your property, consider investing in them.
Are you making virtual tours available during seasons that people are less likely to schedule showings? It helps to let prospective renters view your property from home, and professional images can help your listing stand out in a crowded (albeit slow) market.
When demand is low, your listing needs to do more heavy lifting. Review your property description to make sure it’s clear, keyword-rich, and emotionally appealing. Highlight the features that tenants value most: in-unit laundry, natural light, smart home features, walkability, etc.
Remember to cast a wide net, too. Don’t limit yourself to just one platform. Expand your reach by listing on multiple rental websites, local Facebook housing groups, and even Nextdoor.
Flexibility and Convenience Attract Tenants Year-Round
While long-term leases are ideal for reducing turnover, offering some flexibility during the off-season can help you fill vacancies more quickly. For example, if a qualified tenant wants to move in on January 15, don’t make them wait until February 1. Consider offering an 8- or 10-month lease if it means placing their next renewal date in peak season. This slight deviation from the norm can help you avoid multiple months of vacancy, and tenants will appreciate your flexibility if you’re willing to meet their unique needs when it comes to move-in and move-out dates.
Tenant Relationships Help with Occupancy
Tenants who feel respected and cared for are more likely to stay in a home they’re renting, reducing your turnover during any season. Responsive maintenance, clear communication, and respectful handling of concerns all contribute to tenant satisfaction.
Consider sending a small holiday gift or thank-you note near lease renewal time. These small gestures build upon an already strong relationship and increase the chances that tenants will renew rather than leave during an inconvenient season.
Monitor the Market Year-Round
Keep an eye on rental trends throughout the year. Notice when rents tend to rise. Pay attention to the stretches of time that competing properties remain vacant for longer. This is where a partnership with a local property management team can really help. We’re already gathering this type of data to help the owners we work with make better decisions.
Seasonal slowdowns are a natural part of the rental business, and there’s not necessarily any reason to panic, even if you have a vacancy during a slower season. There is still a lot of demand for high-quality rental homes in good locations. By understanding rental seasonality and taking strategic steps like adjusting lease terms, offering incentives, and improving your marketing, you can optimize your occupancy rates year-round.
The most successful rental property owners are always thinking ahead. When you plan lease expirations to coincide with high-demand periods and invest in tenant satisfaction, you’ll not only reduce vacancies, you’ll create a smoother, more profitable rental experience overall.
We can talk about this with you in a more in-depth way that’s customized to your property or portfolio. Contact us at Action Properties.
