Dothan is one of the most progressive cities in Alabama (City of Dothan). Even though the Dothan rental leasing market is quite competitive, vacancies can still be a major challenge for landlords.
An empty rental property reduces your income and can increase costs associated with maintenance, marketing, and property upkeep. Landlords must adopt innovative leasing strategies to minimize vacancy periods and attract quality tenants.
Here are some creative vacancy reduction techniques to help you decrease vacancy rates in Dothan's competitive rental market.
1. Offer Flexible Lease Terms
One-size-fits-all leasing terms may no longer suit the needs of modern renters. Being flexible with your potential tenants can make your property more appealing to a broader range of tenants.
Some renters may prefer a shorter lease (e.g., six months). This could be due to:
- Temporary work assignments
- Life transitions
- Uncertainty about their future plans
Offering month-to-month leases can attract renters who value flexibility, such as college students or seasonal workers in Dothan.
You can also provide discounts or perks for tenants who commit to renewing their leases, such as a reduced rent increase or a one-time service upgrade like professional carpet cleaning.
2. Highlight Unique Property Features
Standing out in the Dothan rental market requires emphasizing the unique qualities of your property. Showcase features that potential tenants may find valuable.
If your property has energy-efficient appliances or windows, highlight the cost savings for tenants.
Many renters have pets, and offering a pet-friendly rental with reasonable pet fees can attract a significant portion of the market.
Highlight proximity to local attractions, schools, parks, and amenities in Dothan. This includes shopping centers or cultural hubs.
3. Use Professional Marketing Techniques
Effective marketing can help you reach a wider audience and find tenants faster.
Invest in professional photography or video tours to showcase your property. First impressions are critical in attracting prospective tenants.
Offering virtual tours allows tenants to view your property from the comfort of their own homes, which can be especially appealing to out-of-town renters moving to Dothan. Use online platforms and social media to target renters actively searching for properties in Dothan.
4. Create a Move-In Ready Experience
Tenants are more likely to choose properties that feel welcoming and ready for immediate occupancy.
If a unit is available mid-month, provide a discount for tenants who can move in before the first of the following month. Offer small move-in perks, such as free Wi-Fi for the first month or gift cards to local businesses in Dothan.
Dothan Property Management Can Assist With Rental Leasing
Reducing vacancies in Dothan, AL requires creative leasing solutions which you might not be able to apply on your own. That's where a Dothan property management company like PMI Wiregrass comes into play.
We are a veteran-owned full-service property management company ready to make the best of your investments. Committed to honesty and transparency, we will take care of everything property-related for you.
Contact our team to learn more about our services and get started on your successful rental leasing journey in Dothan, AL.
