Property Management, like Real Estate, is actually an all year long active industry. Popular belief would have you believe it is seasonal, and to a certain degree it is. It is generally easier to release in Spring, or to be more specific-between after super bowl and before school starts- than it is to release in Winter. But even as I say that, there are some reasons you would prefer to release in Winter than Spring.
Spring is generally a good time to release your home as it is the time that your prospective tenants have the most time to view the home and move into it. Most of us have moved at least once before and know that it is a process. You also generally have the most motivation to move from Families as they are trying to place themselves before the new school year starts. Because your demand is usually higher during this time, this is when you can get a higher amount for your rental.
Now, I am sure you are reading the first section and going-why would I lease in winter if I don't have to? We often suggest setting yourself up to release in Spring/Summer, and yet life likes to make a mess of ones plans sometimes. Something we have noticed though, is that your tenants if they have to move at this time-are very motivated to move and just be done with it. At a time of year when you are thinking about Family, Holidays, and Traveling-you do not want to waste time moving or looking for home if you can help it. Because of the time of year, generally you will get less rent but once you have a tenant in place you can raise the rent the following year.
When it comes to leasing, no matter what time of year it is-we highly suggest getting a good tenant in there sooner than later. Even if you are taking less rent because you are leasing out in December, you are only missing $100-$200 dollars versus having your home be empty and missing on out a whole month of rental income. There are times that winter is a great time to fix up and prepare to lease out in spring. Send us any leasing questions you have!
DRE#01848133-P: 949-864-6982 -E:preferredmanager@gmail.com-W: www.preferredmanager.com-Facebook-Twitter
Releasing in Spring/Summer:
Spring is generally a good time to release your home as it is the time that your prospective tenants have the most time to view the home and move into it. Most of us have moved at least once before and know that it is a process. You also generally have the most motivation to move from Families as they are trying to place themselves before the new school year starts. Because your demand is usually higher during this time, this is when you can get a higher amount for your rental.
Releasing in Fall/Winter:
Now, I am sure you are reading the first section and going-why would I lease in winter if I don't have to? We often suggest setting yourself up to release in Spring/Summer, and yet life likes to make a mess of ones plans sometimes. Something we have noticed though, is that your tenants if they have to move at this time-are very motivated to move and just be done with it. At a time of year when you are thinking about Family, Holidays, and Traveling-you do not want to waste time moving or looking for home if you can help it. Because of the time of year, generally you will get less rent but once you have a tenant in place you can raise the rent the following year.
When it comes to leasing, no matter what time of year it is-we highly suggest getting a good tenant in there sooner than later. Even if you are taking less rent because you are leasing out in December, you are only missing $100-$200 dollars versus having your home be empty and missing on out a whole month of rental income. There are times that winter is a great time to fix up and prepare to lease out in spring. Send us any leasing questions you have!
DRE#01848133-P: 949-864-6982 -E:preferredmanager@gmail.com-W: www.preferredmanager.com-Facebook-Twitter
Comments
Post a Comment