This is a question that we have been asked many times from Investors and in particular this week, as we approach the cooler months.
Traditionally, the “peak” times of the year to advertise your home for rent, are January through to February. As most people are on the move at this time. Their reasons typically include :settling kids into new schools, university starting, transferring for work or simply renters who want a change of lifestyle.
However the reality is, that it’s not impossible to find suitable tenants at any time of the year with minimal vacancy.
A great result achieved by the RMC team this month, was a total of 6 homes Leased just in this week.
One home in particular located at Campbelltown, offering 3 bedrooms, 2 bathrooms and newly built at $400 per week, was advertised for rent in May and was Leased to quality tenants within the first open.
Whilst seasonally the warmer months traditionally experience higher demand, there are many other factors to consider. In the winter “cooler” months, shorter supply can create higher demand.
Other considerations;
If you know your lease expires soon, and your tenant doesn’t want to renew, it’s important to get the timing of your advertising spot on. Advertising your property for rent too soon may seem tempting, but it could have reverse effects. The risk is in receiving the bulk of enquiries in the first 2 weeks, long before the premises is vacant. Conversely, advertising too late means your tenants move out long before you’ve received enough interest to replace them. Which of course can become extremely costly as an investment property owner.
For further advice on when is the best time to advertise your property for rent, contact Elinore today on 0402 148 373 or elinore.rositano@rmcre.com.au
