Finding a renter is much easier during certain times in the year. Aligning your rental property for this rental cycle will typically lead to higher rental rates and shorter days on market.
Most people move during the summer months. June through September is usually a great time to have any property on the market. With school out for the summer, this is when most people can find the time to make a move. These summer months are also a “high season” for finding renters because universities typically began classes in late August or early September which means that renters must find a place to live in order to be ready for the new school year.
Another good time to rent a property is around the start of the new year in early January. After the holidays many people start new jobs and make transitions. Universities also go back in session and transfer students or new attendees will likely need a place to call home. While this is not as busy as the summer months we still see a strong demand for rental properties during this time.
Once your property is rented out during these months we recommend having your lease expire in late July or the first week in August. Even if this means you will have to offer a 10 or 11 month lease, your property will be much easier to rent if it is available during the peak months. If you are unsure as to rather you will rent your property out again, leave your options open because you just might have a great experience with your rental and decide to do it again!
If this time frame is impossible based on your current situation you are still okay. Most quality properties will be leased during the peak months so if your property comes available in an off peak time, but is a quality property, it will get rented. If possible, transition your leases to match this cycle to maximize rental income and decrease vacancy.