While the real estate market is much different from the stock market in terms of its day-to-day ups and downs, there are some areas where landlords need to be more cognizant of “timing” on their properties in terms of when to offer available rental units. When is the best time to put a property up for rent?
For instance, there are some areas where the timing of your available rental units or properties can make a significant difference. As an example, if you own investment property near a college or university, placing your For Rent ads during the summer months can oftentimes garner new tenants who want to be settled in prior to the start of the next school year.
If you own single family homes – which may be attractive to families with children – the early- to mid-summer time frame can also be beneficial here, particularly if tenants want to be all moved in before the first day of school.
Alternatively, for properties that cater to more of a business market, you aren’t quite as tied to the school year time line. However, during the holiday season, it will often be more difficult to secure tenants than at other times throughout the year.
If you’re short on time in terms of managing and maintaining your rental property, you may want to consider hiring the services of a local and experienced property management team. In doing so, you can take a long list of activities off your plate, such as keeping the properties in good working order, as well as finding and collecting rent from your tenants – while at the same time, still participating in the cash flow and the appreciation of the units.
For more information on how a property manager in the Orlando and Central Florida locale can benefit you, give us a call.