3 Reasons why the BEST time to lease your property is approaching.
Spring is here, the sun is out and as we cruise into these sunnier months the time to place your property up for rent approaches.
Towards the end of the year a dreamy combination of things happen, which make for a really hot rental market.
TIMING: Our coastal location brings every man and his dog down to our region in the sunny months and it is during this time that many make that sea-change they’ve been dreaming of. As the school year comes to a close, it opens a window for families to make the shift in time to spend Christmas in their new place and start the next school year in the new location. Many have annual leave reserved for this time of the year, freeing up the time needed to make a big move.
DEMAND: Beginning with the fact that the vitamin D and general summer bliss makes people more positive, productive and motivated to make these big life changes. With many sea-changers choosing to rent in the area prior to purchasing, we see a huge rise in demand for rentals at this time of year, which allows you to get the best possible rental yield for your investment property and very minimal vacancy periods.
LONGEVITY: Leasing at this time also increases you chances of a retaining a great tenant, because every 12 months when your renewal rolls around it is summer, spirits are high and it they are more likely to want to stay to take advantage of the best season that your coastal property has to offer. It is also far more difficult for them to choose to move at this time because the competition for rentals is fierce.
People more positive, productive and motivated to make these big life changes.
So, if you have been considering renting out your property, now is the time to start preparations, because come November you will be best positioned for a smooth rental process, a top-notch tenant and higher rental return.