During the off-season, it can be quite a feat to rent out your properties. There are only a few tenants for the time being, but there are still strategies you can do to continue your cash flow all year round, even in the off-season. Here are some things you can do with your rental property during the off-season:
1. Complete Large Repairs and Upgrades on your Property
Vacation rental properties typically degrade over time from age, wear, and tear. The best time to complete big projects, large repairs, and upgrades are during the off-season. Are the appliances in your rental still working properly? Do the carpets and flooring need replacement? Are the interiors and exteriors of your property still up to your set of standards?
Whatever your case may be, you will always want to make sure that your rental properties are in top shape and ready for your potential tenants when the high-season kicks in.
2. Brighten up your Property with a Fresh Coat of Paint
A steady stream of tenants during the mid and high season can result in minor wear and tear over time which dulls the ambiance of the property. New paint can instantly upgrade the look and feel of your property.
A fresh coat of paint will cover the scratches and scruffs, and at the same time breathe life into your dull interiors. The paint can make your rental look cozier, cleaner, and homier. With a fresh look, your rental property will surely satisfy tenants and they will be provided with the appearance of a well-maintained property.
3. Retool and Restock your Kitchen
Renters appreciate a full-stocked kitchen. Even many would opt to dine out, some tenants would rather cook their meals. The perfect time to make sure your kitchen is well stocked with a good variety of kitchen cookware and utensils is in the off-season. Replace any tableware, cookware, or utensils that begin to show wear and tear. Look into providing functional appliances in your rental property like food processors, blenders, mixers, and the like.
4. Attract Millenials with Lower Rates and Shorter Stays
Millennials love to travel, but they are a wise bunch. It’s a great tactic to market your rental properties to them during the off-season because it’s more cost-effective. To attract these people, be flexible with your length of stay requirements and pricing. A little money is better than no money at all, so don’t be scared of being flexible!
5. Be Creative with your Listing
During the off-season, don’t just limit your rental to vacationers. Look into marketing for corporate retreats and company outings.
6. Do More Marketing
Your property must have already been listed on Airbnb, hotels.com, or booking.com, but you should also consider finding other smaller niche sites that potential tenants are using. Invite bloggers and influencers to stay at your property, they will help spread the news about your property about how nice their stay was. Be creative with your marketing, after all, it’s the review of previous tenants that will make other renters go for your property.
7. Update your Online Presence
Today, an online presence is a must. Without it, you practically don’t exist. Your online presence should be kept updated and consistent. Take new photos of your rental property and its rooms, get them posted on your website or social media for everyone to see. This will not only attract new guests but will also show that past guests can expect a new and fresh experience on their next stay.
Get creative and get the things listed above done. These tips will help you attract new clients and increase your income from your rental properties during the off-season.