Why now is a good time to start marketing rental properties once again
Whether it's the rental market or the owner-occupier sector, UK property experiences several peaks and troughs throughout the course of the year in terms of activity, and one of the biggest peaks experienced each year is about to roll around once again. October is when more buyers and tenants come to market year after year, seeking out deals and looking to get settled in before the Christmas period begins.
But in the run up to this, it can be a good idea for letting agents and landlords to start looking to market their properties. Here, we take a look at a few reasons it's good idea to start marketing now before everyone else starts to flood the market, ready for one of the year's most competitive periods.
The summer period is traditionally not one of the busiest for the rental market. With families and couples often dedicating their time throughout the summer months to jetting off to hotter climates, the number of people actually looking to move home tends to drop around the school holidays in particular.
However, once that's all done and people start to settle back into a normal routine, it's often time to start re-evaluating where they live and what they are doing, much like they do after the new year. Even if people don't plan to move until October, they might start looking at what's available now, so it's a good idea to have your property on the market when they do.
Get in ahead of the competition
Speaking of being around when people start looking for property, if there are people just scouring the market to see where they might want to move later in the year, there's one big advantage of having your homes to rent available sooner rather than later; you get in ahead of the competition.
If your properties are on the market at a time when stock levels are perhaps not as high, then the chances of a browser seeing your home and giving it a chance are much improved, and you'll likely be providing something they keep an eye on when they come to choose their new home later in the year.
One market you can rely on for immediate custom, however, is students. We're now only a couple of weeks from many undergraduates across the country heading off to new towns and cities for their first year of university. But many still don't actually know where they're going to live as of now.
Those students who have gone through clearing with UCAS are often unlucky in that they don't manage to secure places in university owned accommodation. But this can be good news at this time of year for letting agents, as it provides an all new demographic, ready to rent, throughout September.
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