Why Christmas could be a good time to rent your property
There’s a general perception that everything quietens down over Christmas in the rental market. After all, it’s fair to imagine that tenants hope to have secured a property well in advance of the festive season so they can settle in and enjoy the holidays ahead.
However, if you’re a landlord with a property that becomes vacant just prior to or over the Christmas period, it’s important to note there are some unique benefits to this period when it comes to attracting high-calibre tenants quickly.
Here’s a quick insight into why Christmas could actually be a good time to rent your property.
Who’s moving at Christmas
Contrary to popular belief, there are tenants actively looking for properties over the festive season. Reasons for this shift include the fact that employment transfers often occur at the end of the year, families look to take advantage of the holidays to make a move, and many people are seeking to be in position for the new school and work year ahead.
Often this trend is fuelled by the return of ex-pats from overseas, who typically come back to Australia for Christmas and use it as an opportunity to find a place to live and get themselves set up for the new year.
This year, of course things are a little different in the ex-pat sector, but make no mistake people are indeed out there looking for rental properties and post-Covid, that trend is being accelerated by people looking to make a lifestyle shift.
Meanwhile, there are benefits for landlords who bring their rental properties to market at this time.
Due to the perception that this is a quiet period, there tends to be less rental stock on the market. That means your property faces less competition when it comes to securing a tenant.
You can expedite the rental process by ensuring your property is priced correctly, in good repair, and available for inspection at convenient times and with little notice.
Any tenant out looking for a property over the Christmas period tends to be serious. At other times of the year, rental open homes might draw people considering making a move but not yet committed. This isn’t the case during the festive season.
If they’re inquiring about a rental property, these tenants tend to be committed to moving and need a property that suits.
Ready to rent your property?
If you are a landlord looking to rent your property over the weeks ahead, now is the time to talk to your property manager about how much stock is on the rental market locally, the demand they’re seeing in that region for properties, and the rental price your investment is likely to secure.
Your property manager can also offer guidance on anything you can do to improve your property’s likelihood of securing a good tenant, and the prospective tenant that your home is most likely to suit.
You can learn more about Eview Group’s property management service and talk to our highly-experienced team of property managers here, or if you would prefer, fill out the form below and one of our friendly property managers will be in contact!
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