Thursday, October 27, 2011

There is a best & worst time of year to rent your home!

Seasonal Changes in the Rental Market in Pensacola

There IS a best and worst season to rent your home out! Typically, we can rent homes for more money and faster in the spring and summer seasons. 

 A large majority of people prefer to move during the spring and summer months, as school is out and the weather is nice! The average family receives a tax return and nobody is thinking about the holidays yet. 

At Realty Masters, we usually see a drastic reduction in calls and rental inquiries after Labor Day which continues to slow through the Holidays! Most people prefer not to move between Thanksgiving and Christmas, and we find this is our SLOWEST time of the year! 
It is not advantageous to lease your home in the winter season due to these reasons. We suggest early Spring and Summer to gain the maximum rental rate and get the home leased, fast! Of course, you can't choose when your renters move, so if you have a property coming vacant this winter, here are some tips!  

Do you have a property that is coming vacant this winter? 

Here are a few options!

1.  Offer a 7 month lease at a little lower rate. This allows you to get a renter fast, and will put the property coming available in the Spring Season which is the best time of the year to rent a home!

2. Offer a move in special incentive. Suggestions include $300 off the first months rent or 2 weeks free rent if you move in by November 1, 2011. *We typically do not suggest paying for utlities, allowing tenants to keep utilities in the landlords name, or a reduced security deposit.*

3. Price it competitively !  Make sure you are in line with current market rents. For a free rental market anaylsis on your property, visit our website at http://pensacolarealtymasters.com/?page=rentalpriceevaluator and we'll send you a free current market analysis.

4. Advertise, advertise, advertise!  You must have your home or apartment properly exposed in order to secure a qualified renter in the "slow" time of the year. We advertise on a network of over 75 different online websites, but also suggest proper signage, advertising with the local bases, and craigslist.

5.  Make sure that your home is in the BEST condition!  There are many other homes on the market- you want your home to be the most attractive. Small cosmetic updates can increase your monthly rental rate and position the property for a more quality tenant.


For any other questions on the rental market in Escambia or Santa Rosa Counties, or to lease a home in the Pensacola area, give our staff a call at (850) 473 3983 or email us at Blog@PensacolaRealtyMasters.com

To view our current rental list of over 45 properties in the cities of Milton, Pace, Gulf Breeze, Navarre, and Pensacola- visit our listings at http://pensacolarealtymasters.com/?page=rplistings

Thanks and have a great day,
850-473-3983 Office
Realty Masters of FL Team!
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