Property owners did you know that there are slow times of the year in the rental market? Rental properties can suffer from similar factors that affect the real estate sales market. Leases that end during these slow times can take longer to rent out. They are also more likely to be discounted to encourage a rapid rental.
Also discussed are…
- January – February. It’s cold. It’s wet. It’s a pain to move in the winter. So most tenants don’t. In addition, they just spent every extra dollar they have on gifts for their friends and family. Who has money left over for a security deposit?
- September. If you are a parent, would you want to move right after your children started a new school year? Never. If given the option, parents will almost always choose to move during the summer months so they are settled before school starts.
- December. Nobody really wants to move during Christmas right? They have a lot of other things on their minds. During this month, the people seeking a quality rental are almost non-existent.
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