The time of the year that a property is advertised for rent can make a considerable difference to the demand on your property which can impact the rent achieved and, therefore, on the Return On Investment (ROI).
January – February
This is the busiest season in the rental market and the time of year that people are most on the move. Whether it be people being transferred for work, settling kids into a new school, starting the university year or simply renters who want to change of location or lifestyle.
June – August
This is another optimal time of year to maximise the demand for your rental property. June to August prooves to be the second busiest time of the year in the Brisbane rental market with six month tenancies expiring and new university intakes are occurring.
Things to consider:
It is not a legal requirement in Queensland to offer either a six or twelve month lease period. As an investor you may wish to consider offering tenancies so that the tenancy ends in the peak periods. Some tenants may find it odd that there are not being offered the common six or twelve month lease period, so it is important that your property manager clearly communicates the benefits that the tenant could incur in ending the lease in peak rental season.
While it is not impossible to locate a suitable tenant at any time of the year, these two peak periods provide investors with more selection of suitable and quality applicants, more demand for their properties and more potential for optimal market rent to be achieved.