How hard is it to fill rentals in the winter?

Pittsburgh, Pennsylvania
General Landlording & Rental Properties
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How hard is it to fill rentals in the winter?

Mike Schoeffel
Member since 2020 · 15 posts · 7 votes

I'm on the verge of making an offer on a 2/2 on the Southside (a good part of the Southside), yet I'm hesitant because I've heard the harsh Pittsburgh cold/snow can make units hard to fill in the winter. How true is this? I don't want to get stuck covering the mortgage for six months until the weather warms. 

Thanks ya'll. 

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Nathan GesnerBusiness Member
Moderator
Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
3y

By the way, it's better to lower the price than sit empty. An empty house loses rent income, you pay the utilities, and you don't have anyone watching the house to prevent frozen pipes or other winter issues.

On a $2,000 rental, one month of vacancy is going to cost you more than dropping the price $200 a month for six months.

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  • Bryce Hammill
    Investor · Torrance, CA · Member since 2019 · 50 posts · 35 votes
    3y

    No knowledge on this, but very curious of what others have experienced. 

    1Reply
  • Christian EhlersBusiness Member
    Real Estate Agent · NH & MA · Member since 2021 · 457 posts · 291 votes
    3y

    Not sure about Pittsburgh specifically, but on the east coast when it gets cold it can be very tough to fill a rental at full market rents because so few people around here want to move during the winter. If it is a very nice/updated rental at a good price it will still usually rent out though, and then you can raise rents to market later on. 

    My suggestion is if you have to do that, make sure that your first lease is 6 or 9 months, whatever it takes for the expiration date on the lease to be in the spring/summer when it's easier to fill a vacancy if you have a tenant leave. 

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  • Mike Schoeffel
    OP
    Member since 2020 · 15 posts · 7 votes
    3y
    Quote from @Christian Ehlers:

    Not sure about Pittsburgh specifically, but on the east coast when it gets cold it can be very tough to fill a rental at full market rents because so few people around here want to move during the winter. If it is a very nice/updated rental at a good price it will still usually rent out though, and then you can raise rents to market later on. 

    My suggestion is if you have to do that, make sure that your first lease is 6 or 9 months, whatever it takes for the expiration date on the lease to be in the spring/summer when it's easier to fill a vacancy if you have a tenant leave. 

    Very helpful! Thanks.

    0Reply
  • Bryce Hammill
    Investor · Torrance, CA · Member since 2019 · 50 posts · 35 votes
    3y
    Quote from @Christian Ehlers:

    Not sure about Pittsburgh specifically, but on the east coast when it gets cold it can be very tough to fill a rental at full market rents because so few people around here want to move during the winter. If it is a very nice/updated rental at a good price it will still usually rent out though, and then you can raise rents to market later on. 

    My suggestion is if you have to do that, make sure that your first lease is 6 or 9 months, whatever it takes for the expiration date on the lease to be in the spring/summer when it's easier to fill a vacancy if you have a tenant leave. 

     Thank you for the info. The short term lease makes sense. Been curious of this, as I'm looking at a property back east. 

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  • Nathan GesnerBusiness Member
    Moderator
    Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
    3y
    Quote from @Mike Schoeffel:

    I'm on the verge of making an offer on a 2/2 on the Southside (a good part of the Southside), yet I'm hesitant because I've heard the harsh Pittsburgh cold/snow can make units hard to fill in the winter. How true is this? I don't want to get stuck covering the mortgage for six months until the weather warms. 

    Thanks Ya'll. 


    My winter is usually pretty cold and harder to fill vacancies, so we just keep the prices a little lower. We're also flexible and allow monthly rentals or 6-month terms, then convert to one-year leases once we hit spring/summer.

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  • Nathan GesnerBusiness Member
    Moderator
    Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
    3y

    By the way, it's better to lower the price than sit empty. An empty house loses rent income, you pay the utilities, and you don't have anyone watching the house to prevent frozen pipes or other winter issues.

    On a $2,000 rental, one month of vacancy is going to cost you more than dropping the price $200 a month for six months.

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  • Jeremy TaggartBusiness Member
    Real Estate Agent · Pittsburgh, PA · Member since 2014 · 850 posts · 646 votes
    3y

    @Mike Schoeffel definitely harder to lease in Pittsburgh from about Thanksgiving thru the New Year. Typically will lower prices to get them filled. Just not as many people looking that time of year. You also will have a noticable uptick in unqualified people applying since landlords tend to get more "desperate" this time of year and people try and take advantage of that. Idk that I would let that deter you from buying a good long term investment though. I try to not get too short sighted on something I am going to buy and hold if it's a good deal. This time of year can be better for finding deals on the buy side also. 

    South Side in particular though will probably have more rental demand than a lot of other neighborhoods so that will help for sure even in winter. 

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  • Miranda Micire
    Real Estate Agent · Pittsburgh, PA · Member since 2020 · 82 posts · 55 votes
    3y
    Quote from @Mike Schoeffel:

    I'm on the verge of making an offer on a 2/2 on the Southside (a good part of the Southside), yet I'm hesitant because I've heard the harsh Pittsburgh cold/snow can make units hard to fill in the winter. How true is this? I don't want to get stuck covering the mortgage for six months until the weather warms. 

    Thanks ya'll. 


     I've just filled four units relatively quickly with qualified tenants because I priced them fair and they are really well-maintained all over Pittsburgh - Brighton Heights, Brookline, Wilkinsburg. I think you can find a good tenant any time of year.

    2Reply
  • Bill Brown
    Rental Property Investor · Pittsburgh, PA · Member since 2018 · 40 posts · 16 votes
    3y

    @Miranda Micire are you able to get full market rent at this time of year?

    0Reply
  • Robert Finn
    Realtor · San Antonio, TX · Member since 2021 · 150 posts · 107 votes
    3y

    Great feedback from above!

    I also reach out to previous renters around this time of year and offer a discount on a return stay if I'm seeing a-lot of vacancy. Entertain the idea of being pet friendly and also ask any current in house renters if they'd like to extend at a discount. Update guidebooks on what's happening nearby your location. Here in San Antonio, we have theme parks nearby (Six Flags and Sea World), you could build a relationship and see if there are any perks to referring your guests over, same rules apply for local restaurants.  

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  • Miranda Micire
    Real Estate Agent · Pittsburgh, PA · Member since 2020 · 82 posts · 55 votes
    3y
    Quote from @Bill Brown:

    @Miranda Micire are you able to get full market rent at this time of year?


    Yes I think so.. I rented my place in Brookline for $1600 3 bd /1 ba, Brighton Heights 4 bd/ 2ba $1650, Wilkinsburg both 1 bd /1 ba utilities included at $825 / $795.

    I have one currently listed for a client -  I've had a bit of a hard time with but the rental price is too high and I've been slowly lowering it to something more reasonable for the area its in. 

    0Reply
  • Adam Martin
    Rental Property Investor · Member since 2020 · 1k+ posts · 1k+ votes
    3y

    In my area it is slightly harder to rent but not a ton.  You aren't going to have as much demand as peak summer season but on the flip side there is less inventory as most people are trying to make sure they turn in the summer.  I have rented houses in most months and while I get a lot more interest in the prime months it still takes about the same amount of time to rent. There may be a difference of 25-50/month in rent but nothing significant and I could probably end up charging the same amount if I were willing to have a bit more vacancy however I make more charging slightly less but filling the place.  

    0Reply
  • Allan C.
    Rental Property Investor · Member since 2018 · 826 posts · 810 votes
    3y

    @Mike Schoeffel I’ve had difficulty in cold areas and had some vacancies until March, even with rent decreases. I ensure my lease terminations end before Sep and put hefty penalties for breaking lease once we reach Oct.

    You got good advice to have 6 month lease if you get tenants and keep renewals in peak period.

    0Reply
  • JD MartinBusiness Member
    Moderator
    Rock Star Extraordinaire · Northeast, TN · Member since 2015 · 10k+ posts · 16k+ votes
    3y
    It used to be more difficult where I live years ago, such that we only offered 9 month leases after September 1 and 6 months before March 1, but the last 4 or 5 years demand has been so crazy that we haven't even bothered enforcing that any more. I went back once about a year ago and looked at my records and we've filled vacancies every single month, even at Christmas time. But I'm in the south, so our weather is far milder than Pittsburgh.
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  • Kenneth GarrettPro Member
    Investor · Florida Panhandle/Illinois · Member since 2016 · 4k+ posts · 3k+ votes
    3y

    @Mike Schoeffel

    I can speak only on the winter aspect. Many of my investments are in the Chicagoland market. Hard winters (cold, snow, no sun for 30 days, etc). Real estate sales are generally also down. Less people looking. I’ve rented units every month. Thanksgiving through January are definitely the most difficult. Be flexible during these times of year. You might need to offer a reduced rent amount (10% reduction or so). I only issue minimum 12 month leases, but what I do is make a 15 month lease or whatever number of months to avoid the winter months for renewal . My goal is to have the lease end in March, April, May which is the better time of year (spring time).

    2Reply
  • Gary Swank
    Real Estate Agent · Pittsburgh, PA · Member since 2014 · 821 posts · 255 votes
    3y

    You may have a harder time filling if on the slopes during the winter months. Better chance on the flat part but of course this is all dependent on other factors such as condition, rent rate, amenities and proximity to things people want. 

    2Reply
  • Nate Sanow
    I​nvestor & Agent · Tulsa, OK · Member since 2016 · 1k+ posts · 1k+ votes
    3y

    Hi from the south… while not in your area, I’ve often said there’s an uptick of activity both in sales and rentals just before the holidays. So if you can turn it late fall early winter you might be fine. And worst case offer it at a discount as everyone else said. 

    1Reply
  • Polo VazquezPro Member
    Real Estate Agent · McAllen, TX · Member since 2017 · 382 posts · 281 votes
    3y

    This isn't just in cold places. I live in Texas and I ALWAYS have to either lower rents or offer first month half of in order to fill vancies in October, November and December. People are saving their money to buy Halloween stuff, turkeys, presents and vacations rather than paying a $1500 rent with a $1500 deposit or so... I prefer using first month half off because then it gets harder to get rents back up to market price even when you renew the lease

    We also see this phenomenom in sales. Houses sit in the market longer and our phones ring less during these months.

    1Reply
  • Greg H.Pro Member
    Moderator
    Broker/Flipper · Austin, TX · Member since 2013 · 4k+ posts · 4k+ votes
    3y
    Quote from @Mike Schoeffel:

    I'm on the verge of making an offer on a 2/2 on the Southside (a good part of the Southside), yet I'm hesitant because I've heard the harsh Pittsburgh cold/snow can make units hard to fill in the winter. How true is this? I don't want to get stuck covering the mortgage for six months until the weather warms. 

    Thanks ya'll. 


    0Reply
  • Eliott Elias
    Investor · Austin, TX · Member since 2021 · 9k+ posts · 5k+ votes
    3y

    It's hard because most people don't relocate or have their lease ending at that time. School doesn't start, jobs usually don't start. Depends on your markets economic activity and how frequently people are looking for places to rent 

    0Reply
  • Bob S.
    Real Estate Consultant · Cleveland · Member since 2020 · 6k+ posts · 3k+ votes
    3y
    Quote from @Mike Schoeffel:

    I'm on the verge of making an offer on a 2/2 on the Southside (a good part of the Southside), yet I'm hesitant because I've heard the harsh Pittsburgh cold/snow can make units hard to fill in the winter. How true is this? I don't want to get stuck covering the mortgage for six months until the weather warms. 

    Thanks ya'll. 


     Take govt tenants, HUGE demand and you will get more rent and more stability, just screen well  

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