A question we get all the time from our clients is: when is the best time to list my rental property? The timing of your listing will impact the number of tenants you’re able to attract and the amount of rent you can collect.
Spring and Summer Months
Historically, the spring and summer months have been the best times to rent out your property. That’s basically between April and June. You’re going to have the most interest from tenants then. The leasing season is tied to the selling season. Lots of people are buying, selling, and renting, so you have a large population of people looking around, and a lot of tenants will be choosing to move out of their properties during those months. So, there’s turnover.
September and October
You definitely see rental traffic slow down significantly around August when school starts and families with children are going to want to stay where they are. Then, from Labor Day through the end of October, we often see a punch of business. That six-week period is your next best option.
Renting in the Winter
If it’s possible, you want to avoid having a property on the market between November and January. The good news is that if you do have a rental available during the holiday and winter season, the interest that you do get will be from serious prospects. The downside to having a property on the rental market in the winter is that there is a 20 percent dip in what you could rent your property for in the spring. But in January, we do see an uptick in interest based on national and international corporate relocations.
If you have any questions about the local rental market, please contact us at Foundation Rentals and Relocation. We’d be happy to help you find a great tenant during any season.