Finding tenants in the month of December / January

As we all know that most people take time off from work including real estate people, TAFE & UNI students also on holidays and o/s students (mostly) go back to their home country and that trend continue until at least mid January.

Anybody had any difficulty finding the tenants in these few quiet weeks or it may be other way around that most real estate are closed so tenants have not much choice and they get
whatever available (I doubt it).
Your valuable input would be much appreciated as I (guess) am going to face this situation.

KK
____________________________
Trust your hopes, not your fears.
 
i am at a loss as to why most RE agents close down during the week of Christmas/New Year as this is always our busiest time..... maybe it is simply because most are closed lol

December - Busy the few two weeks - a lot of people trying to get properties secured B 4 xmas, the two or so weeks prior to christmas are dead... everyone too busy with xmas shopping parties etc

Jan - the first week is generally pretty quiet but from the second week in til the end of Feb property managers are in straight jackets as it is just insane!! struggle to keep up with enquiry, tenants moving in and out left right and center

Most tenants, landlords and prospective tenants are ********s during this time also... everyone is on a short fuse, PMs are working very long hours just to keep their heads above water. It is a crazy time!
 
Jan - the first week is generally pretty quiet but from the second week in til the end of Feb property managers are in straight jackets as it is just insane!! struggle to keep up with enquiry, tenants moving in and out left right and center

Thanks NotAllPMsRBAD
Reason I asked is that my tenant wants to extend the lease until 15 Jan 2010
(current lease expires on 15 Oct 09) and I was bit concern about the timing.


KK
____________________________
Trust your hopes, not your fears.
 
It sounds like your tenant might be planning on moving at the end of the lease, given she has asked for it to end at that time.

Perhaps she is looking at moving to suit schooling needs, or maybe she is a teacher who might be transferred?
 
We deliberately have our IP leases end in mid-January as that is peak rental demand. One IP very near the beach with a pool is always highly sought after. Our record is a 2 hour break between one tenant moving out and the next tenant moving in, and only because our PM had to do the property reports!
Marg
 
KK, I'd be stoked if I were you - that's the ideal time for the lease to end. :)

That means I was worrying for nothing but that happens when you are new in the game (IP), bought property last year and this is my first tenant.
Long way to go >>>>>>>>>>>>

Wylie,
I guess you are correct they moving to suit schooling needs.


KK
____________________________
Trust your hopes, not your fears.
 
My experience has shown that the period from the 3rd week of December to 1st week of Jan is pretty quiet ...I would not want a property to fall vacant over that period.

I've also found that in the middle of winter - mid July - people are reluctant to move and things are quiet esp in VIC and SA.
 
Hopefully i will find a tenant. I'll be having viewings as soon as finance is approved Nov 19th, so that i have someone ready to go mid december. I'm going to try to speed up the settlement if I can.

I hope i dont have a problem seeing its so close to christmas time.
 
I think you'll be right in time to score that pool of tenants who want to be "settled in the new place by Christmas". ;) You should be fine.

Agree with CherryPro. The best thing any property manager can do for an owner is to do a run down of all leases expiring in Nov to mid Jan, and make sure they're all signed up with new leases to avoid the possibility of the quieter time. But having said that, Sydney's shortage has meant over the past years when we remained open over X'mas/New Year, except for the public holidays, we were innundated with rental enquiries. Sales is the same with international, interstate, and country buyers.
 
Hi All,
I bought 2 properties. First settlement is on 19th Nov 09 and second one on 18th Dec 09. For first one, I think I will have enough time to find a tenant but for second one..........Difficult. So I am thinking to paint the house and do some minor improvement for 2-3 weeks and put in the market after first week of January.
Is it a good idea or I should put in market straight after settlement?
Thanks
 
Anybody had any difficulty finding the tenants in these few quiet weeks or it may be other way around...
December, January & February is the best time to have a place for lease on the Sunshine Coast. This is when most people move up here. I have timed my leases to finish in this period. It may be different in Melbourne? Have a chat to some local property managers for their opinion.
 
December, January & February is the best time to have a place for lease on the Sunshine Coast. This is when most people move up here. I have timed my leases to finish in this period. It may be different in Melbourne? Have a chat to some local property managers for their opinion.

Thx that's Interesting.....What do u think is the best way to find young professionals? Internet/REA's or Newspapers?
Thx,
JB
 
Sorry JB... not sure which young professionals you are after?

Thx yo yo...people like nurses/office workers/teachers/graduates etc
I'm thinking that they would mostly find properties via Realestate.com.au, but what do u think about other forms of advertising? Too expensive?
Cheers,
JB
 
I'm a nurse & my wife is a teacher! We advertised on the net for our places & also used the local papers on the advice of the REA; wasn't that expensive. I guess it depends on your target - most younger people are tech savvy and would use the net.

Good luck with it.
 
I'm a nurse & my wife is a teacher! We advertised on the net for our places & also used the local papers on the advice of the REA; wasn't that expensive. I guess it depends on your target - most younger people are tech savvy and would use the net.

Good luck with it.

Thankyou...yep Net seems the plan
JB
 
Re whether to rent immediately upon settlement or touch upfor 2-3 weeks then put on.

What you need to weigh it up with is how many week's in lost rent can you afford against a presumed mortgage payment of at least a month to a month and a half?

There is no doubt a well-presented property is receiving the highest level of attention at the highest prices. But some owners, having weighed up their mortgage payment options, prefer to rent it, if on the balance, they will receive a little below the premium rent.
 
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