Why January is one of the best times to lease your property...
When you put your best foot forward and position your property correctly, tenanting it over the New Year can come with a whole host of added benefits! Here are our top reasons as to why January is one of the best times to lease your investment property:
THE TIMING IS RIGHT
Not only are many potential tenants on holidays by this point, but they also have plenty of spare time to browse properties before they return to work and send the kids back to school. This means that you’re likely to have more qualified tenants walk through your property to begin with.
LESS COMPETITION
As a multitude of properties tend to become available at the end of January, getting in early and listing your property before the competition heats up is a very smart choice to make. For many people looking to rent, particularly families, it is the best time of year to make a move as they can take full advantage of the time off in January.
This is great news for you, as you won’t need to compete with dozens of other properties to draw in the anticipation and attention of tenants. When there is a reduced number of listings on the market, more tenants will be looking at your property.
MOTIVATED TENANTS
Anyone who takes the time out of their busy holiday schedule to browse property listings is serious about renting, and serious about doing so as soon as possible. In the early months of the year where open for inspections are a regular occurrence, people are more likely to browse homes without a clear plan to rent immediately. In January however, statistics show that tenants are more motivated as they have a higher urgency and agenda – perhaps people are browsing for a home in January due to an employment transfer, or perhaps tenants are looking to minimise rental fees, or their children are starting at another school. Perhaps they need to move quickly and the New Year period is the only time available to make such a big transition. Either way, this is a huge advantage for investors.
By taking the plunge and leasing your investment property in January, your property will ultimately face far less competition, you’ll be liaising with serious, motivated tenants and you will have the opportunity to secure higher quality rental applications.
If you are considering leasing your property or would like any assistance with your investing or leasing requirements, don’t hesitate to get in touch with one of our award-winning property management professionals today on 03 9842 8888.