Off-Season Leasing for Los Angeles Property Management
The marketing tips for rentals indeed need to change according to the seasons. Generally, most renters move in the spring and summer. But there are specific times of the year when there is a greater need to fill occupancy like the holiday season, or the crisis world is facing now during COVID-19. RTI Properties Los Angeles Property Management team understands that the real estate is being slowed down during this time. It is now the time of the year to try unique leasing tips and ideas to avoid potential vacancy issues and to increase tenants for the Los Angeles rentals.
So, turn your Los Angeles property’s Off-season into the best season!
Listed below are five easy tips to help guide you through off-season leasing for Rentals in Los Angeles, CA.
1. Complete Your Online Listings
Most people begin their home-hunting process online. This means that you should be ready to market your unit or property with a high-quality listing. In the listing, you’ll want to contain all the needed information about the property – people don’t want to go searching for the info. Make sure that your listing is up-to-date and if there’s on-site parking and utilities included, if pets are allowed, as well as tenant requirements and the monthly rent.
Related Article: Managing Your Properties And Common Areas During Social Distancing
2. Marketing the Unit in Los Angeles, CA
Marketing in Los Angeles, CA, may seem like a daunting task, but luckily, it will help you out in the long run. Plus, people are eager to snag rentals fast, as more Californians prefer to rent rather than buy a home. For a marketing example, let’s say you are trying to lease a three-bedroom unit. According to data, it’s much easier to market a two-bedroom unit. Therefore, you should assume that you are renting a two-bedroom + one office instead of a three-bedroom (the third bedroom is usually very small). Check out this great article on Successful Lease-up Challenges, Tips, and Hacks by RTI Los Angeles Property management experts.
3. Host Open Houses In Los Angeles For Great Results
Renters love the convenience of open houses because it enables them to look at the unit with no pressure, and with everyone being so busy, it also helps with proper time-management. Your best approach would be to try two open houses – one during a weekend day and the other on a weeknight. This ensures that people are off work, or if they have weird schedules, they have more than one day to see the unit.
4. Offer Incentives
We understand that people aren’t looking for rentals during the off-season, so if you want to fill the vacancy quickly, you might want to consider an incentive. The carrying costs will be likely to cover up that concession if a unit remains vacant. Filling the vacancy for someone with a temporary discount would work better than not having anyone at all.
5. Go For a Non-Standard Lease
RTI Los Angeles Property Managers recommend not to stuck on a standard 12-month lease and consider offering more flexible lease terms during the slowdown season. Perhaps you can find a tenant moving to the area on a short-term job assignment and needs your rental on the 6-months lease; then, you can move to schedule the lease to end during peak leasing season. This will help you to avoid off-season leasing time around.
For the latest in Los Angeles Real Estate and Los Angeles Property Management news, trends, and tools, stay connected with our blog at https://www.rtiproperties.com/blog/los-angeles-real-estate-market-outlook/
Call RTI Properties today at (310) 532-9122 for more insight on how to snag great tenants for your units during the off-season months of the year in Los Angeles, CA. With over 30 years in the business, we are here to help both renters and tenants grow and flourish in the sunny Los Angeles neighborhoods and have your best interest in mind.