If you have been in the lettings industry as long as i have, you will most definitely notice a pattern to the year when it comes to how quickly properties let and the type of tenants that are moving at certain times in the year. If you are a new landlord or are looking to expand your portfolio this information could be extremely useful. Below is a good guide from lettingaproperty.com
A new rental home for a new year? Absolutely! As well as tenants looking to make a fresh start in a new property at the start of a year, our research has shown that landlords investing in property should begin their search in January / February to allow time to exchange, complete and be ready for marketing during the spring and summer peak moving seasons.
From Good Friday to May Day, Bank Holidays make a very attractive time for tenants to move. This is because they can use a three-day weekend to move without having to take time off work. This is where you can really reap the benefits of investing during the earlier months of the year.
Be warned, however, if you are offering a six-month tenancy, you may want to extend it as an agreement that ends in November/December is classed as the ‘low’ season – and for many landlords with vacant properties, this is a no-go zone.
It’s during these summer months that many families will be looking to move. This is because they want to get their children settled in a new home and environment before the new school year starts in September. Also, the summer holidays mean that their children’s education won’t suffer any disruption during the move.
If you are looking to let to students, September is the time to do so.
While some students sort their accommodation months in advance, there will also be those who leave it until the last minute. In this case, they will be looking for a quick move before the new term starts.
Although the level of enquiries starts to dip from mid October onwards during the ‘low season’ the quality of the enquiries increases as these seem to be from more genuinely motivated tenants.
Unfortunately its not always possible to have our properties empty at peak times, but a good agent will definitely recognise any sticking points and will advise on what measures are needed to get your property tenanted as quickly as possible at those quiet times.