.png)
As we enter August, Portland’s rental market is experiencing the typical summer slowdown. After a surprising surge in leasing activity during the spring, listings saw nearly double the usual number of leads. But now, with the summer heat and distractions like vacations, many units are lingering on the market longer than expected. While this can be frustrating for property managers, it’s important to recognize that this slowdown is temporary, and with the right strategies, you can keep vacancies at bay.
If your property is sitting vacant longer than you’d like, don’t panic. The summer months tend to bring fewer moves, but there are steps you can take to decrease vacancies and keep your rental business running smoothly. Here’s how property owners can navigate the quieter season and ensure their units stay filled.
Declining Vacancy Rates
Although leasing activity may feel slow, the data shows a more positive trend. Portland’s multifamily vacancy rate dropped from 6.17% to 5.91% in Q2 2025, indicating a steady demand for rental units despite the summer dip. Neighborhoods like Buckman, Kenton, and Hawthorne are experiencing more rental activity, particularly for smaller units like studios and one-bedrooms.
This tells us that, while some units might linger, there is still strong interest in Portland’s rental market overall. The key for property managers is making sure your property stands out to the right tenants during this transitional period.
Target Smaller Units to Meet Tenant Demand
One trend that’s been noticeable in Portland’s rental market this year is the growing demand for smaller units, especially studios and one-bedroom apartments. With rising rent prices, tenants are increasingly looking for affordable living options that don’t compromise on location or lifestyle.
If you have smaller units available, now is the time to market them effectively. Highlight the benefits of these units, such as lower rent, lower utility costs, and access to vibrant neighborhoods like Buckman and Kenton. Take high-quality photos that emphasize the space’s cozy appeal, and consider offering promotions like a free month of parking or discounted rent for longer-term leases to attract tenants. Focus on the value tenants will get for their money.
How Property Managers Can Decrease Vacancies
Now that we’ve identified trends, let’s dive into what you can do to actively reduce vacancies:
1. Offer Incentives to Attract Tenants
If your units are sitting on the market longer than expected, consider offering move-in specials or lease incentives. These could include a reduced security deposit, discounted rent for the first month, or offering flexible lease terms. Incentives like these make your property more attractive compared to others and encourage potential renters to make a quicker decision.
2. Refresh and Stage Your Units
In a slower market, the presentation of your unit can make all the difference. Ensure your units are fresh, clean, and staged to show their full potential. This may involve a simple paint refresh, updated light fixtures, or rearranging furniture to make the space look more inviting. Staging smaller units, even virtually, can help prospective tenants visualize how they can make the most of the space.
3. Leverage Online Marketing & Virtual Tours
Take advantage of digital tools to reach more prospective tenants. High-quality online listings with clear photos, video tours, and 360-degree virtual walkthroughs can help tenants get a feel for the space without visiting in person. According to industry reports, listings with virtual tours tend to attract more interest, especially in slower periods when people may not be able to visit immediately. Additionally, don’t forget about social media—Portland renters are active on Instagram, Facebook, and local online platforms, so engage with potential tenants where they are.
4. Highlight Amenities and Community Features
Even during the summer slowdown, tenants are looking for community and amenities that enhance their living experience. Whether it’s your property’s dog park, on-site gym, or proximity to public transit, make sure to highlight the advantages of your property’s location and features. This is especially relevant in Portland, where the lifestyle and walkability of the area are significant draws for many renters.
5. Stay Engaged with Current Tenants
Don’t forget to engage with your current tenants. Building relationships and offering them incentives to renew their leases, such as a discounted rent increase or upgrades to their unit, can help you maintain occupancy and reduce turnover. Offering perks for long-term tenants not only boosts retention but can also lead to word-of-mouth referrals.
Looking Ahead By Preparing for Fall Leasing
While summer may be slower, fall is historically a busy leasing season in Portland. As more people move in after vacation season, there’s typically an uptick in rental demand. To prepare for this, now is a great time to make sure your units are in top condition, have a fresh online listing, and are ready to be shown to interested tenants.
By focusing on targeted marketing, offering incentives, and emphasizing the unique value of your property, you’ll be in a strong position to fill vacancies quickly as the market picks up again.
Patience and Strategy Pay Off
If your Portland rental property is sitting vacant during the slower summer months, don't worry. The rental market’s seasonal nature means that things will pick up again. In the meantime, take proactive steps to reduce vacancies by offering incentives, refreshing your property, and marketing to the right tenant demographics. With the right strategy, you’ll ensure that your units stay competitive and are ready for when the market rebounds.
Find out more about rental news, managing rental properties, and find helpful advice on maintaining your rental investments with illume Property Partners.