Tampa, FL has one of the highest vacancy rates in the US, according to US Census Bureau American Community Survey data. How many of your rental properties are still empty? Instead of continuously losing revenue, update your rental leasing strategy.
With these effective rental strategies, you can find and retain Tampa renters. Leveraging these tips can boost your occupancy rate and ROI. Apply our effective vacancy rental strategies to ensure your success!
Leasing Tips for Tampa
Before using the rest of these creative leasing strategies, research Tampa's rental market. Complete a rental analysis to determine your rental rates. The information you gather will ensure you remain competitive while setting appealing prices.
Consider partnering with an experienced Tampa property management company. Leverage their expertise to spot local market trends.
They may recommend you update the rental property to make it more appealing to potential renters. Cost-effective upgrades include:
- Flooring
- Paint
- Kitchen cabinets
- Light fixtures
- Backsplash
- Bathroom renovations
- Improved landscaping
- Cleaning the exterior and driveway
Otherwise, make sure the property is well-maintained. Schedule routine inspections and regular maintenance.
Existing and future tenants will appreciate that you care about their living experiences. You'll have an easier time encouraging lease renewals and applications if the property is in good shape.
Leverage Digital Marketing
Attract new renters to your Tampa properties using digital marketing. Effective strategies include:
- Search engine optimization
- Content marketing
- Social media marketing
- Email marketing
- Paid advertising
- Video marketing
Share video tours, virtual tours, and photos of the property on social media. Add location-specific hashtags to reach Tampa renters.
You can outsource your property marketing strategy to a property management company. They'll track and improve your campaigns over time to boost your ROI. As more people find your online campaigns, you'll generate more applications.
Offer Incentives and Generate Renewals
Offer new and existing tenants discounts or other incentives to encourage applications and lease renewals. For example, you can offer a month of rent for free. Other incentives include gift cards to local restaurants or property upgrades.
Retaining your existing tenants will save you time and money. You'll reduce marketing and tenant screening costs, boosting your ROI.
Request Tampa Property Management
Instead of applying these creative leasing strategies alone, partner with a Tampa property management team. They can provide effective, competitive vacancy reduction tips.
Choose a full-service property management company that can cover:
- Property marketing
- Accounting
- Tenant screening
- Maintenance
Leverage their state-of-the-art technology to remain efficient. Their online tenant portal will help you stay organized while improving tenant satisfaction rates.
Relying on their services will save you time and money. You'll have access to their professional expertise, allowing you to gain a competitive edge in today's market.
Apply Our Top Rental Leasing Strategies
Developing a strong rental leasing strategy can take time if you lack hands-on experience. Instead of applying these effective rental strategies alone, partner with PMI MetroBay.
We'll provide real-time access to how your investments perform using state-of-the-art property management software. You can trust our commitment to enhancing your investment through honesty, communication, and accuracy. Contact us today to request your free rental analysis.
