When is rental season

If you want to know how to take advantage of the peak rental season, then this guide will give you insights on the best time to rent, when to charge a higher rent, and the best times to list your property online. The peak rental season happens when the highest number of renters are looking for a new rental property. This typically happens in the summer , mostly due to the school year calendar. College age students want to secure a rental before school starts, while graduates move into rentals after completing their education.

Parents of younger children tend to move during summer so as not to change schools during the school year and to get settled before enrollment begins. Discuss their plans to renew as early as possible.

If you are currently on a winter vacancy cycle, start choosing end dates that end in summer by signing a 6-month or month lease. This is the best way to determine fair market rent your unit and likely how much rent that you can charge. Here are some of the benefits of preparing for the peak rental season : You can be selective — If you list your rental property during this season, more prospective tenants will see your listing.

The more leads you have, the higher the chances of finding a good tenant. When you have many tenant leads, you can afford to be more selective when looking for a lead to lease. Higher rental rate — When demand is high, rental prices also tend to increase. This means achieving a better return on investment for your client and possibly more money for you, the property manager.

Invest in technology Technology will automate your processes and make it easier to get things done. Renovate the rental property Before conducting home showings in peak rental season , make sure the investment property is in good condition.

Do a deep cleaning Deep cleaning is another way to prepare rental properties for leasing season. Update your rental listings Having an attractive listing will increase your chances of generating tenant leads during the peak season. Here are some things you will need to work on: Rental listing headline — When tenants are looking for a rental property, they are thinking about the number of bathrooms, bedrooms, location, and price range.

All these details should be captured in your headline. Rental listing description — Mention features that stand out most such as large windows, high ceilings, gardens, city skyline view, walk-in closet, hardwood floors, and balcony.

Use adjectives like warm, intimate, cozy, private, spacious, and tasteful to describe the rental property. Rental listing photos — You need to have a photo for each living space, kitchen, bathroom, and bedroom.

In addition, you should have photos of special features such as the garden, pool, outdoor spaces, and newly renovated areas. If you have the budget, you can hire a professional photographer to capture the best shots. Review your contracts and leasing agreements Before the peak season, you must ensure that your leasing agreements and contracts are up to date. Start Your Investment Property Search! Rental Management Tenants. Insurance for Renters.

Home Ownership Renting. Table of Contents Expand. Summer Months Best for Inventory. Winter Months Best for Savings. Rent Price Ranges in 10 Cities. How Early to Apartment Hunt. The Bottom Line. Key Takeaways The real estate market tends to be cyclical and seasonal; paying attention to these cycles can affect the ease of your search and the price you'll pay for a rental. Apartment inventory is higher between the months of May and September, given the considerable turnover during these months.

Rental rates also tend to be higher during the summer months. The lowest rental rates are found during the winter months—October through April—with demand and prices reaching their nadir between January and March. An apartment search should begin in the middle of the month prior to the target move month.

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You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy. Related Articles. Markets Financial Markets for Investors. Partner Links. Related Terms Lease Definition A lease is a legal document outlining the terms under which one party agrees to rent property from another party.

How a Lease Option Works and Helps with a Downpayment on a Home A lease option is an agreement that gives a renter the choice to purchase the rented property during or at the end of the rental period.

New university intakes are occurring and six-month tenancy agreements are due for expiry, so this is another optimal period to maximise demand for your rental property. Key Takeaways: While it is not impossible to find a suitable tenant at any time of the year, these two peak periods provide investors with more: more selection of suitable applications, more demand, more quality applications and more potential for the optimal rent to be achieved. A common misconception about tenancy agreements is they should be either six months or 12 months.