Key Takeaways
- Compare the cost of a move-in incentive with the income lost during vacancy before deciding whether a promotion makes financial sense.
- Focus upgrades on practical features such as smart-home technology, workspace areas, and energy-efficient appliances that can add value without requiring major renovations.
- Use clear written terms for any incentive, utility credit, pet-related arrangement, or renters insurance requirement to help avoid misunderstandings during the lease.
- Review your Spokane rental's condition, location, features, and competing listings before choosing between an incentive, property improvement, or rental-rate adjustment.
Finding the right tenant for a Spokane rental property can take time, especially when you want to maintain a strong rental rate. When a property stays vacant, owners miss out on rental income and continue paying for property expenses. This makes it important to use effective strategies that attract qualified renters.
Lowering the rent is one option, but it is not the only way to make a rental more appealing. Property improvements, useful amenities, and thoughtful move-in incentives can help your rental stand out while protecting its long-term value.
At Windermere Property Management, we help Spokane rental property owners find practical ways to market their homes and attract qualified tenants. The right strategy depends on the property's location, condition, features, and current rental market.
Here are eight ideas to consider when preparing your rental for new tenants.
1. Add Smart Home Features
Smart home technology can make a rental more convenient and appealing. Features such as keyless entry and smart thermostats give tenants simple ways to manage their home while adding modern touches to the property.
Consider installing a smart lock on the main entrance and a Wi-Fi-enabled thermostat in the living area. These upgrade features are relatively simple to install and can provide useful benefits for both owners and tenants.
Smart locks can also make property management easier by allowing owners or property managers to provide temporary access codes for approved maintenance visits. Choose reliable systems that are easy for tenants to use and maintain.
2. Create a Dedicated Home Office
Many renters work from home, making a dedicated workspace a useful feature. A home office gives tenants a quiet place to work without requiring them to use a kitchen table, bedroom, or living room.
An unused bedroom, dining area, or nook may be converted into a simple workspace. Add a desk, shelves, electrical outlets, and good lighting. Cable management can also help keep the area organized.
You do not need a major renovation to create an attractive office. A fresh coat of paint, comfortable lighting, and a functional layout can make the space more useful.
3. Offer High-Speed Internet Options
Reliable internet is an important consideration for many renters. Providing high-speed internet access can make your rental more convenient, especially for tenants who work or study from home.
Before listing the property, research internet providers available in the area. If possible, arrange for the necessary connection or installation work before the tenant moves in.
You may also choose to include the internet as part of the rental package or allow tenants to establish their own accounts. Clearly explain who is responsible for the service and monthly cost in the lease.
4. Upgrade to Energy-Efficient Appliances
Energy-efficient appliances can add value to a rental while helping tenants manage household energy use.
Consider replacing older appliances with modern models when they reach the end of their useful life.
Energy-efficient refrigerators, washers, dryers, dishwashers, and other appliances can be attractive features for renters. Look for models with recognized energy-efficiency ratings.
Before making an upgrade, compare the purchase price with expected operating savings and the property's overall rental market. Choosing improvements that provide practical value can support long-term property performance.
5. Offer Pet-Friendly Features
Pet-friendly rentals can appeal to a large group of potential tenants. If you allow pets, consider adding features that make the property more convenient for pet owners.
Durable flooring, an easy-to-clean entry area, or an outdoor space can make a rental more pet-friendly. A simple feeding area or designated pet space may also be useful.
Make sure your lease includes clear pet rules and follows all applicable laws. Pet fees, deposits, and monthly pet rent should also comply with local requirements.
6. Provide a Limited Move-In Incentive
A short-term move-in incentive can help your property attract attention without permanently changing the rental rate. For example, you might offer a utility credit or another approved incentive for a new tenant.
If you offer a utility credit, clearly state which services are covered, the length of the promotion, and any limits that apply. Put the terms in writing so both parties understand the agreement.
Before offering an incentive, compare its cost with the potential cost of leaving the property vacant. A well-planned promotion may help your rental stand out while maintaining its long-term value.
7. Provide Professional Cleaning Before Move-In
A clean rental creates a welcoming first impression. Professional cleaning can help ensure the home is ready for the next tenant and gives them a fresh start.
Consider having the property cleaned after the previous tenant moves out. Pay attention to kitchens, bathrooms, floors, baseboards, windows, blinds, and appliances.
Professional carpet cleaning may also be useful between longer tenancies. Document the property's condition with photos and a move-in inspection report so everyone has a clear record of the home's condition.
8. Include or Encourage Renters Insurance
Renters insurance can provide valuable protection for tenants and may help reduce certain risks associated with rental housing. Some landlords require tenants to maintain coverage throughout the lease.
You may choose to offer a renters insurance policy as part of a move-in package, where permitted, or simply require tenants to obtain their own coverage. Review the policy requirements carefully and make sure the arrangement follows applicable laws.
Clearly explain the coverage requirements in the rental agreement and ask tenants to provide proof of coverage when required.
The Bottom Line
Attracting quality tenants does not always require lowering your rental rate. Smart home features, useful workspaces, energy-efficient appliances, pet-friendly options, move-in incentives, professional cleaning, and renters insurance can all help make a property more appealing.
The best improvements depend on your rental's location, condition, target tenant, and current market demand. Choosing features that provide real value can help your property stand out while supporting long-term investment goals.
At Windermere Property Management, we help Spokane rental property owners with marketing, tenant screening, leasing, maintenance coordination, and ongoing property management. Our team can help you identify practical ways to improve your rental's appeal and develop a leasing strategy that fits your property.
Frequently Asked Questions
Is A Move-In Incentive Worth It For A Spokane Rental Property?
A move-in incentive may make sense when its cost is lower than the potential income lost during an extended vacancy, but the decision depends on the property's rental rate, condition, competition, and demand.
For example, an owner could compare a one-time credit with the projected cost of several weeks without rental income.
It is also important to consider whether the incentive supports the property's overall pricing strategy rather than simply masking an asking rent that may not match current market conditions. Windermere offers rental pricing analysis for Spokane-area properties.
Should I Lower Rent Or Offer An Incentive?
The better option depends on the property and current market conditions.
Lowering rent changes the ongoing economics of the lease, while a one-time incentive may reduce the initial cost to a new resident without permanently changing the advertised monthly rate.
Owners should compare both approaches using the property's expected vacancy cost, competing rentals, condition, and current pricing.
A rental pricing analysis can provide useful context before making the decision. Windermere specifically promotes rental pricing analysis as part of its Spokane-area services.
What Improvements Can Make A Spokane Rental More Competitive?
Start with improvements that offer practical value rather than automatically pursuing expensive renovations.
Depending on the property, owners might consider updated appliances, improved lighting, a functional workspace, smart-home features, or better presentation through professional photography and cleaning.
The right choice depends on the home's condition and the features competing rentals offer. Windermere's marketing services include professional photography and online rental advertising, so owners can also improve how existing property features are presented before committing to larger upgrades.
Can Energy-Efficient Upgrades Help A Rental Property Compete?
Energy-efficient appliances can be a useful improvement when older equipment needs replacement, but owners should evaluate the investment based on the property's condition and expected return rather than installing upgrades solely to attract applicants.
Consider the purchase price, expected operating efficiency, durability, and whether similar features are common among competing Spokane rentals. Improvements that also reduce maintenance concerns or modernize an aging property may provide broader value.
Owners can compare the cost of an upgrade with other ways of improving the property's presentation or leasing appeal.
How Can Professional Property Management Help With Vacancy?
Professional property management can help owners handle several parts of the leasing process without managing each task themselves.
Windermere Property Management advertises rental properties online, uses professional photography, conducts tenant screening, handles rent collection, and provides financial reporting through an owner portal.
The company serves Spokane as well as Airway Heights, Liberty Lake, and Spokane Valley. For an owner considering an incentive, professional management can also provide support with rental pricing, marketing, applicant screening, and ongoing property operations.