The end of the holiday season usually prompts great activity in the rental market and landlords should not only be prepared for this but also take advantage of it.
The summer holiday not only marks the end of the school year, but also the end of a time of employment, with many people handing in their notice immediately before leaving for their holiday. So in many ways early summer is a good time to capture these tenants and we have indeed been especially busy over the past few weeks.
However, every property let usually means that someone else is moving on, yet many landlords assume that the summer is quiet and they would be best to wait until the autumn before bringing a property to market. This can be a mistake. This is because everybody else thinks the same thing, creating a dearth of properties during the summer and a glut in the autumn, putting downward pressure on rents. Also, many people want to be settled in ideally before the start of the new school year or job.
Likewise, because this is an annual phenomenon, many tenancies come to an end at about this time, causing a surge in tenant enquiries.
So why not take advantage of this activity by bringing your property to market before other people do? Alternatively, why not tell us that your property “will be coming to market” well in advance of the current tenant vacating, thereby giving prospective tenants a special opportunity and minimising your own void period.
Contact your local branch for more information on our lettings services.
Neil Newstead, FARLA MNAEA
Chief Executive Officer