How to Handle Winter Vacancies in Your Rental Portfolio
- Set Proper Expectations – During the Fall/Winter holiday seasons it may take a little longer than normal to get the property rented. Be sure to have realistic expectations.
- Know your Market – Make sure you’re priced in line with the comps in the area. Holding out for a higher rental rate will cost you more money if the property to sit versus lowering the monthly rent to market rent.
- Lease Terms – To avoid a future winter vacancy, be sure to set the expiration date of the next lease for the spring/summer.
For more tips on dealing with your winter vacancies, feel free to contact us.