There are so many different decisions that come into play when you are a landlord and manage your own properties. From what to charge your tenants for their monthly rent, which upgrades to make to the properties, and who to lease the units to, are just to name a few. 

Choosing the right time to list your rental property is also a critical question that needs to be addressed. A novice landlord may not think it will make any difference whether the for rent sign goes up in May or in December, but experienced property managers will correct that train of thought and encourage reconsidering that idea. 

Statistics show that the Summer is the hottest time to market your rental. More people sign new leases and move in the Summer months. There are several contributing factors to this reasoning.  No one wants to be moving furniture in the snow and cold, so summer sun and pleasant temperatures are enticing to make the change. Another big reason a lot of renters will choose to move in the summer is because their kids are out of school for the summer. Choosing to move between school years will allow their children to avoid having to switch schools and leave all of their friends right in the middle of the year. 

Due to the high volume of apartment hunters during May, June, July and August, you will also be able to command a premium price for your rental property. And if you are signing your new tenants to a long term lease, the premium price is the price they will pay for the whole lease term - even during those slow months and the cold months. Consider this: if you list your property during a slower rental season, there will not be as much demand and you may have to ask less money for the same apartment or home that you can ask more for when there is a busier rental market. 

This right time to list your rental property is especially relevant as well if you live in an area that is near a college campus or university. This particular market will see an influx of college students returning to the area after summer break and who are getting ready to tackle the fall semester and the year of studies ahead.

Getting ready for this summer rush is easy to do and you will benefit from having done the prep work to make sure that your unit is good to go when the high season comes around. 

Maintenance and Repairs

A few months before you’ve decided is the right time to list your rental, evaluate what upgrades and repairs will need to be made. Consider any cosmetic upgrades that could bring you additional revenue in rent, while not breaking the bank to do them. 

Simple things like smart locks and smart thermostats may be enticing to your renters and allow you to ask just a few dollars more for the added conveniences and cost savings in energy efficiency that they will save.

Check your major functioning items as well, such as appliances, HVAC, caulking, and toilets to make sure all are in good working order. If the unit is currently vacant, now is the time to address any problem issues in order for you next tenants to have a clean slate to start from when they move in.

Check Out Your Competition

Do a little market research and check out the local competition. Compare other rental units to yours to help you evaluate how much the right rental price is going to be. You will want to make sure you are competitively priced, however don’t short change yourself if your units have features that make it worth more than the ones you are using as comparisons. Take into account all upgrades that have been done, the overall condition of the unit, and the property location and convenience factor. 

Market Yourself

As discussed earlier, if you are in a college town, there is a good chance that students will be moving from out of town. Be sure you have an online presence and market your available rental properties on the internet so anyone coming from another area can be informed about your units.

Keeping these tips in mind as you decide the right time to market your rental property will help you gain the best tenants and get the best price for your rental property.

Thousand Hills Realty is the premier property management company in the Branson, MO and Hollister, MO area. We would love to discuss how we can help you manage your local rental property. Call us today at 417-337-8081.