Boston, MA · Member since 2014 · 3 posts · 0 votes
I have a property in the Boston area that's still under renovation and won't be complete for another 2 weeks...
The property is in a nice area and should look great after renovations. Do you think I will have trouble getting it rented by September 1?
Have I already missed the busy season? Do rents start falling on September 1? Would I have been able to charge higher rent if my property had been ready for an August 1 start date?
Hanford, CA · Member since 2013 · 5k+ posts · 1k+ votes
12y
If you are not aimed at families either school kids you are much better off. Personally I would take pictures and start advertising. This way you got a leg up. I think your still fine as long as you are proactive about it. We personally start advertising as soon as we know a house will close. A couple of times we had someone move in within weeks of finishing. The key is to price it right.
Seattle, WA · Member since 2014 · 44 posts · 4 votes
12y
summer is the peak season, but it also depends on a lot of other factors.
are your potential tenants families? single? students? young professionals? families who move to a different school district would definitely do all that before the school year starts, and that's summer.
There are a lot of people switch job, a lot of those happens in summer too.
Recently we helped our client to rent his townhouse out, and we found the tenant who's moving in town.
When everyone is trying to move at the same, the demands go up and the supply is technically fixed, you can technically demand more rent, but then again, it also depends on other factors too.
Rental Property Investor · Brookline, MA · Member since 2013 · 1k+ posts · 777 votes
12y
September IS the big month here in Boston. Get your ads up now and you'll have signed lease agreements before the 10th of August. Just make damn sure your renovation is done on time!
Boston, MA · Member since 2014 · 23 posts · 2 votes
12y
September is the best time, but as always it depends on your location. I have units in South Boston and I was able to rent out a unit for October 1st and I even raised the rent. Same deal this may, I was able to rent out a unit in 3 days and raise the rent.
Rental Property Investor · Olympia, WA · Member since 2014 · 777 posts · 744 votes
12y
Not from Boston, but know that there are always people moving for many different reasons. There may be 'best' times to rent, but any time can work. Don't presume that your home is for a particular subsection of the market. I have 4 bedroom homes that are often occupied by middle to upper age couples with no kids! I certainly don't discriminate from someone who isn't going to abuse my home with kids and pets! Sounds like your going to have a nice home with some new finishes. Price it right and it will be rented out in no time! Good luck!
Landlord and Rehabber · Newton, MA · Member since 2010 · 2k+ posts · 877 votes
12y
Like the other locals I will agree that 9/1 is THE magic date.
You can always rent stuff at any point during the year but so many people are on that schedule it is better to have it available then if you can. You have all the students but most of the 20 somethings got on the schedule in college and end up staying on it, often for many years after they graduate.
Like Aaron said get ads up now and you have a good shot of renting it in a few days if it is nice. And again like he said just make sure the reno is all done before then.