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In my experience as a landlord, there’s a certain time of year that is optimal for finding tenants. For many reasons, this period of time is ideal. Not only can you be particular about who you rent your property to, but there’s also the potential to get more money up front.
On this episode of Investing in Real Estate, I’m sharing my favorite time of year to place tenants in a rental property! I’ll discuss what makes this time period perfect for renting out your property, and I’ll also share the worst time to find tenants. Join me for episode 114 of Investing in Real Estate!
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This might be hard to believe, but right now is actually my favorite time to rent out my investment properties. I know you might wonder if winter weather will discourage tenants from finding a new rental, but I’ve found the opposite to be true!
I’m not talking about around the holidays; you’ll want to wait until after Christmas. The beginning of the year, until about tax time is a great time to find a quality tenant. When renters receive their tax refunds, they’re able to pay a few months rent in advance.
Usually around tax time, our property managers receive tons of applications. Which is great, because it allows us to be incredibly choosy about who is living in our properties. I always wish I had more properties, because this time of year I can’t keep up with all of the prospective renters.
When your tenant prepays their rent, not only do you have a large amount of your ROI upfront, but it also tells you that the renter is reliable. You don’t have to worry about whether or not they’re going to pay on time.
On today’s show, I’ll explain further why right now is my favorite time of year to find tenants. I’ll also talk about my experience with renting around the holidays. Don’t miss this episode of Investing in Real Estate!
If you’re ready to begin building a passive income through rental real estate, book a FREE call with my team today. We’re ready to talk about your goals and want to help you learn more about earning legacy wealth for you and your family.
On this episode you’ll learn:
- When should you aim to wrap up renovations in order to find the best tenants?
- When is the worst time to find tenants?
- Should you rent to someone who has been evicted?
- And much more about rental real estate!
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