Real Estate over the Christmas period slows down dramatically. People often avoid moving over the Christmas break. If you find your investment property vacant and on the market early December you may find it more difficult to get good tenants and may be better off advertising your property in the new year. Property Management also has its issues with maintenance and trades. Just like you, trades people want to celebrate over the break and they often like to take a little longer break than most.
They often take from mid December to late January or early February off. This means if your tenants have issues it can be quite difficult to get things repaired, fixed or replaced straight away. This can sometimes mean you need to pay more to get the same result. If you have good tenants in your investment property over the Christmas period it pays to keep them happy. Providing a bottle of wine or a small gift to say “thanks for looking after my property” can keep a loyal tenant even happier. A happy tenant is always advantageous for astute investors, as they will go out of their way to keep the property in good condition and maintain certain items on your behalf.
Is it a good time to sell over the Christmas period? Real Estate Agents and many investors often speculate about the perfect time to sell. I don’t believe there is a perfect to time to sell in general as the perfect time depends on the property. Warm and inviting homes with spectacular internal fit outs can often be great to sell in the winter as people can feel very cozy and comfortable. When there are many buyers in the market this will usually be complimented with many properties on the market ie. winter versus summer. My belief is the supply and demand of property is at the same ratio regardless of the time of the year. Just use your common sense and think about the selling points of your property.
The only common factor in whether you are looking to sell, rent or purchase it is important to use a Quality Property Manager when investing, a great Real Estate Agent when selling and make sure to do your own research in what is that you’re doing so no-one in Property Management can take advantage of you.
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