How Chicago Landlords Can Avoid Long-Term Vacancies

There are three key things that landlords should understand about long-term vacancy in their apartments—aside from the obvious point that it’s, well, not a good thing.

In Chicago’s seasonal rental market, avoiding vacancy often comes down to setting a competitive rent, timing your lease to align with peak demand, and offering smart concessions when the market slows. Armed with these three key market factors, landlords can devise various strategies to minimize long-term vacancies in their Chicago apartments.

Set a Realistic, Market-Driven Rent Price

Market conditions are one of the most important variables that influence vacancy. Even well-upgraded apartments won’t lease quickly if the asking rent is out of sync with nearby comparables. Premium appliances and smart thermostats help, but the neighborhood market—not the feature list—ultimately determines how much renters are willing to pay. If Chicago’s broader economy is cooling, or if nearby buildings are offering incentives, renters will immediately notice price gaps. Chicago renters are especially aware of neighborhood sub-markets, so it’s essential to benchmark your pricing against similar units in the surrounding area.

Before listing, review current comparables on Domu’s neighborhood pages to understand what other landlords are charging and where your unit should fall in the range.

Check out: How to Price Your Apartment Rental Listing in 2025

Time Your Lease Expiration to Align With Peak Rental Season

Chicago renters overwhelmingly prefer to move during the warmer months. Looking at several years of Domu leasing data, July 1 remains the most common lease start date, with the majority of searches happening during the 90 days prior. Posting your listing during this spring window positions your unit in front of the largest pool of prospective renters.

Because standard 12-month leases don’t always align perfectly, landlords should consider adjusting lease terms to sync with peak season. Ask current tenants whether they’re open to either a short-term extension or slightly longer lease so that the next availability lands between April and July. This strategy can dramatically reduce the risk of a winter vacancy.

See Also: Are Move-In Fees the New Norm?

Leverage Concessions to Stay Competitive in the Off-Season

Concessions have become a standard part of Chicago’s rental landscape, especially during the off-season. Renters increasingly expect incentives—whether that’s a waived move-in fee, free parking, or a month of reduced rent—because these offers are now familiar across the market. Others may respond to smaller, creative options, such as flexible move-in dates, a partial credit toward utilities, complimentary storage, or temporarily reduced pet fees.

Some landlords even entice qualified renters with a free professional cleaning at move-in, discounted rent for an extended lease term, or a one-time credit to offset moving or rideshare costs. In buildings with amenities, complimentary access to the gym or bike storage for the first few months can also help your unit stand out.

For many renters who avoid the highly competitive spring season, the goal is to secure a late-season deal, and a modest concession can be the difference between a casual inquiry and a signed lease. Even a small incentive can meaningfully reduce the cost of a lingering vacancy.

Related: How Does Net-Effective Rent Help Landlords Fill Units Faster in the Off-Season?

Thinking about revising the lease for your unit? You can download a copy of Domu’s model lease here.