6 Ways to Market Vacancies Positively

By Christine Ascher on January 1, 2018

Whenever you’re renting out units to students in a college area, you’re going to find yourself facing a lot of competition. With so many properties in the same area targeting the same audience, it’s not uncommon to have some empty spaces left over. When you have vacancies on your property, you have to be careful to ensure that that will not reflect back negatively on the property itself—in other words, you’ll need to make it clear that there’s nothing actually wrong with property so that students don’t get scared away and you can drum up more interest to fill in those vacancies. If you find yourself facing this problem, consider some of the following ways to market any vacancies in your property in a positive way, to ensure that interest in the property continues.

Image via https://www.pexels.com

1. Watch Your Wording

Marketing your property positively is all about the wording that you use. Rather than saying that you still have empty spaces, for instance—which could paint the situation in a negative light—instead, say that you still have some spaces available for more tenants. Instead of marketing your property as a rental space that’s unwanted by other tenants, you’ll turn your empty spaces into an opportunity for those who are still looking for housing.

2. Emphasize the Positive Aspects of Your Property

In order to ensure that potential tenants have the best possible view of your property, make sure you include everything that it has to offer when you speak with potential tenants or post listings of the property. If your property has any fun or helpful amenities, like a gym or a swimming pool, those details should definitely be included. It’s also a good idea to mention the laundry facilities, if any, that your property has, and some more specific details about the rental units themselves. For instance, let your potential tenants know how big the apartments are, how many bedrooms are in each unit or if there’s some variety in terms of size, the appliances in each apartment, and the finishes, such as the flooring and countertops. The more details you give about your property, the more your potential tenants will be able to see what your property has to offer and all of the benefits that would come with living there.

3. Use Pictures

In addition to describing your property to students still looking for housing, it’s also a good idea to show them some pictures of the amenities included and the units themselves. That way, anyone who is interested in your property can see for themselves what to expect. Try to take some pictures of an empty unit so that students know exactly what they’ll find if they choose to lease with you, and make sure you clean it up before you take the pictures—dirty floors or nicks on the walls can still show in the pictures, and you don’t want to scare away potential tenants with faults that can easily be fixed.

4. Utilize Social Media

When you still have vacant units in your rental property, a great way to market them is through social media. Especially when you’re trying to reach a demographic of college students, social media will have the widest reach and will probably help you draw the most interest. Whether you use Facebook, Twitter, or another social media platform, students will likely respond well to your choice for advertisement. Include lots of pictures and any relevant details about the property that can help it stand apart from others, such as location and amenities.

5. Offer New Deals to Draw in Tenants

A great way to drum up new interest in your property and to get students to come check out your vacant units is by offering deals to students who decide to lease with you. Given most college students are on a tight budget, the thought of getting a good deal of housing or just saving a little bit of money will go a long way in terms of motivating them to live in your property. It’ll also be worthwhile for you, even if you end up reducing the rent or offering free parking, as you’ll be able to fill up units that may have otherwise stood empty and generated no money at all.

6. Ask Your Current Residents to Vouch for the Property

When you need to attract new tenants to fill up your empty rental units, remember that you already have one great resource on hand: your current residents. Ask the students who are already living in your properties and are familiar with it what they like about living there, and include their comments as testimonials when you market the property’s vacancies. This will ensure that potential residents are aware of the benefits that come with living in your property, and by having current residents vouch for you, they’ll be able to hear from a source they can trust.

By Christine Ascher

Uloop Writer
USC
Hi! I'm Christine and I'm currently a senior at the University of Southern California, where I study English Literature, Economics, and French.

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