How hard is it to find tenants during fall/winter?

Question

Brandon Ingegneri · Answer

I personally find it more difficult to fill units after November.  Do I do it? Yes, but it is certainly more work choosing quality tenants from a large pool during the winter as opposed to the warmer months.  I can get very specific about the quality of tenant because there is a larger number to pick from.

Michael Thomsett · Answer

It all depends on the demographics. I had several rentals in a city dominated by a large university. When I placed ads for rentals, I usually got 50 to 100 replies, year-round. I preferred renting to families rather than to students, and that was not difficult. With all of the student renters, demand among more mature tenants was still high. So I discovered that a strong demographic (students, for example) makes for an overall strong market.

Jade S. · Answer

How ya doing, @Gail Kaitschuck...looks like you are livin the dream in Richmond County! Agreed that down here, weather really doesn't impact our rental market.  Even with my two month vacancy last year, I had two "near misses" from tenants that ended up not showing up to sign the contract and pay the deposit after verbally agreeing to rent after an initial showing.  They are out there for sure...just not quite as active as Spring and Summer.

Gail K. · Answer

Howdy Jade...I'm next door to you in Augusta.

We've filled rentals for our SFH's in October/November but come December applicants tend to focus on the holidays and, often, in January they're too broke FROM the holidays to consider moving.

I think sometimes weather plays a role in this and we're lucky in that aspect as we're not battling months of snow to turn off potential tenants.

Gail

Thomas S. · Answer

I am in the north and it really doesn't matter to me when they are vacant. There are always tenants available 12 months of the year although. Jan 1 may be more difficult due to Xmas. I always start advertising 2 months ahead and have never had a problem finding a quality tenant. You only need one.

Jade S. · Answer

Yes, I've run into similar issues.  Took me two months to fill a vacancy in a SFH in Georgia that I acquired in October and had rent ready by November.  Many folks simply may not be looking to move around the holidays, although we have had military transfers to a base where I live that can occur late in the year.  It really depends on location too.  Just talk to other Northeastern landlords when there is 15-20 inches of snow on the ground.