January a good month to renew tenants?

[aam]

From: Apprentice Millionaire


From the thread entitled "Extended vacancy", I understand that it is best to have leases renewed in January, and that July is the worst month. What is it that makes it so? I thought everything went quiet during the summer months, and therefore January would not see much activity in the rental market. So please could someone help me understand?
Thanks you!

Cheers
Apprentice Millionaire
(aka Jacques)

 

[Peter_Tersteeg]

Reply: 1
From: PT Bear


The best time of year to lease your IP will be dependant on the location.

Our first IP is in Brunswick, Melbourne. It's a short tram ride from Melbourne Uni. The best time is probably Jan-Feb, because all the new students are putting pressure on the rental market. This means that there's fewer low end rentals available, thus other areas of the market get affected too.

There's also other factors, like weather and the state of the economy (firms hiring in the area, may mean people are moving). You need to look at the big picture.

PeterT

 

[WebBoard]

Reply: 1.1
From: F. F.


Many parents are keen to set up the new home and kids in school before the new school year. January is also after Xmas and people prefer to have Xmas in their 'home' and before moving somewhere else when the Xmas rush is over. January, in Perth, also sees some immigration of "t'ther siders from the east'. According to real estate agents November, in Perth, is a little quieter for new leases. Mid winter also sees people keen to stay home with a reluctance to go and venture forth.

 

[Simon]

Reply: 1.1.1
From: Simon .


When I was in the Army we were always looking for a rental place in Jan - Feb. It seemed that every man and his dog was doing the same thing and rental managers often made the comment that it was the busiest time for them.

As a landlord I also found it great to sign 12 month leases running Jan to Jan as demand was higher then and I was assured of another tenant if i needed it with no break.

Simon