A vacant rental is a rental that isn’t making you any money. As a landlord, you want all of your units occupied throughout the entire year to make as much profit as you can. Unfortunately unless you live in a neighborhood where people are scrambling for rentals, you’ll likely have to do some legwork to fill your rentals. Most of this legwork comes in good old fashioned marketing and advertising.
You may not have the budget to advertise your rentals throughout the entire year, but you do want to advertise your rentals at least part of the year. So which are the best times of the year to get your rental advertised? Let’s look into some things to look at to decide when to advertise your rental thanks to the guidance of The Wheaton Team.
When is the Best Time to Advertise Your Rental?
In reality, the best time to advertise your rental is when you have a vacancy, but that it not always doable. Most landlords just have a few rentals that they run and just don’t have the time and money to constantly advertise their rental. Fortunately there are some times that are better than others.
The best time for rentals is generally the warmer months, the same time people are looking to buy homes. Depending on where you live, this could include any time between March and September. To narrow that timeframe down, use your knowledge of the neighborhood to gauge when people would most be interested in rentals, such as the start or end of the school year. These times where you know people will be looking to move into new places is the ideal time to spend some money on advertising your rental through ads, flyers, events, and more.
In general you don’t want to advertise your rental in the cold winter months, as this is the slowest time of year for people looking to move. If you have the budget and some vacancies, you can sector some of your advertising budget to cover the colder months.
In general it’s best to advertise your rental during the warmer months, and even more so during times of high demand. Talk to real estate companies or other landlords to help figure out the specific times that demand is at its highest, and allocate a hefty portion of your ad dollars to this time. Advertising when people are looking is the best way to get the most out of your ad money.