Apartment Move-in Specials to Offer

By Kaitlin Hurtado on August 22, 2023

As a property manager, one of your top priorities is going to be making sure that your vacancy rate is kept low. The more units that sit vacant, the more money is lost with rent loss. As much work you put into keeping tenants and minimizing unit turnover, life happens and you will have tenants moving out. In order to minimize the amount of time that units sit vacant, you may consider offering apartment move-in specials.

Keep reading for ideas on apartment move-in specials to offer to attract even more rental applicants.

Photo: Pexels

Reduced or free rent

No one can say they don’t love a good discount, and that applies to discounted or free rent. Not all move-in specials have to have an explicit monetary value, but it sure does help when potential tenants can see the amount they are being offered. With discounted or free rent, tenants can see the deal they are getting firsthand.

When it comes to apartment move-in specials, think about what actually works for your apartment’s financial situation. In some cases, you can consider offering reduced rent for a select period of time if the tenant signs a certain lease term or applies within a certain time frame.

On a similar note, you can also offer ‘free rent’ for the first month or first couple of months of the lease’s term. As property management, this can be viewed as a financial loss but can help you attract tenants for the long term and decrease vacancy in the long run.

If you are offering discounted rent in any form, make sure it is something that financially works for you.

Waived application fees

If a tenant is applying to multiple properties at once, things can get pretty expensive if they are paying application fees for multiple properties. Make your rental property stand out by offering waived application fees to potential tenants.

These fees cover the necessary tasks for screening potential tenants (like background or credit checks), but on the tenant’s end, can just seem like another cost they do not want to pay. It will come out of the property’s pocket, but what is $30-$50 compared to one month less of financial loss when you can attract tenants to vacant units more quickly?

Waived or reduced security deposit

Anyone who has ever moved knows how many costs are associated with the initial move, from furnishing the place to the initial security deposit. Make it easier on your tenants by offering a waived or reduced security deposit.

A reduced deposit will be greatly appreciated by tenants and can be a deciding factor for potential applicants that are prioritizing saving money when it comes to choosing the right property for them.

Waived pet deposits/pet rent 

Any pet owner can attest to frustration around paying extra apartment fees for their beloved pets If your apartment is pet-friendly, consider including waived pet deposits or pet rent as part of your apartment move-in specials.

Sure, this will only apply to those with pets but can be a deal breaker for tenants that have pets and are looking to save on any costs possible.

Varied lease terms

If your rental property tends to stick to a certain lease term for new tenants, consider offering more of variety to new tenants. Not all renters are looking for a full 12-month lease term – some want a longer 18-month term while others are looking for something as small as a six-month term.

Offering a variety when it comes to lease terms can help attract a pool of applicants that could otherwise be looking elsewhere, like students or seasonal workers that are in the area for a shorter period of time. These tenants can get the housing they need on their terms and move within the period they need to without the penalty of breaking a lease early.

Gift cards 

Apartment move-in specials do not necessarily have to be property-related. You can offer specials that you know the tenants will end up using and loving, like gift cards.

Offer gift cards to local restaurants or store you know they will shop at for apartment necessities, like Amazon, Target, or Walmart. You may think that these aren’t as enticing as discounted rent, but anyone loves a good deal that they know they are going to take advantage of. They may not be getting discounted rent, but the gift cards can cover a week of groceries, or help pay for the TV for their new living space.

Offering some type of apartment move-in special can make your rental property stand out in a highly competitive market. With these ideas in mind, you have some options to consider what would be the best choice for your apartment community. Good luck!

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