Take advantage of less moving activity during the Holidays
It’s the holiday season again, and why is this a good time to find a rental? Most folks are settling down for a long winter’s nap. But life sometimes interrupts our plans and living arrangements may need to change (sometimes quickly). The time of year could be an advantage for those looking for rentals, here’s why:
This is a predictably slower time of year for finding tenants. Landlords with vacancies, this time of the year are going to be somewhat more flexible in prices and requirements for tenant screening. The selection of available rentals seems to be greater during the holiday season. If you are looking for a particular school district, or perhaps a particular style of home in a more desirable neighborhood, this is the time to get looking.
During the summer we, as Property Managers had a difficult time keeping a variety of rental inventory on the available market. Renters were doing applications sight unseen (don’t recommend) out of desperation. We were getting multiple back up applications for almost all of our rental homes. The seasons have changed and so has our inventory of available homes for rent.
The upshot is, competition for rentals during the holiday season is greatly reduced, plus there is more time to shop around and find just exactly what fits your needs instead of renting a home that is not a style you like, in a neighborhood you don’t like and in a school district that is not your first choice. Instead of a desperate panic to find a place to hang your hat. Relax and find what you really want.
Might be a better time to purchase a home
The same principle applies to home sales as well, the rush to buy a home as an investment, or for your family, the rush has passed, and we are seeing extended marketing times for existing home sales. Plus a better selection of inventory.
Investors have found that this is also a good time to purchase rental homes. Many sellers were expecting a fast sale (based on last summer sales numbers) for their homes on the market. These sellers could be somewhat more flexible as the buyer pool shrinks during the holiday season.
If you need any help with renting a home, selling a home or buying a rental or just buying your dream home, don’t hesitate to reach out to me or my team, we are here to help with all of your Real Estate needs.