How to Maximize Peak Leasing Season in Colorado Springs

Greg Bacheller

Jul 26 2024

Did you know that 70% of moves occur between Memorial Day and Labor Day weekend? With those stats, it’s easy to see why peak leasing season occurs between May and early September. Increased activity means greater demand, which of course, equals an increase in rents. So whether you’re looking to fill a vacancy this summer or renew the lease with your current tenants, here are a few tips to help you maximize this year’s peak leasing season in Colorado Springs.

1. Know Your Current Market & Renter Demographic

Make sure to do your homework when deciding what your starting rent should be by searching for comparable properties in your area. Check for the number of rentals in your neighborhood and surrounding area, taking into account the difference in upgrades and amenities.

2. Update Your Marketing Strategy

It’s important to put your property’s best foot forward with quality photos and a detailed ad that highlights all the important features and amenities your rental has to offer. Make sure your ad details location-specific highlights, such as travel access, local attractions, the neighborhood name, and nearby amenities.

3. Capitalize on Lease Renewals

If your residents’ lease is set to expire this summer, make sure to reach out to them well in advance to inquire about their plans.

4. Create a Turnover Kit and Maintenance Gameplan

In the event your property is going to be vacant over the summer, have a game plan in place to help minimize your vacancy period as much as possible. Schedule move-out inspections and repairs as soon as your residents vacate the property.

5. Update Your Vendor List

Having a reliable team of vendors for any type of repair is essential during any stage of rental property management.

Ready to Maximize Your Rental’s Earning Potential This Summer? Get Started With a Free Rental Analysis with Real Property Management Colorado today!