Why Austin Landlords loathe the Holidays...

Why is it?
Pardon, my french but the rental market during the doldrums holiday periods from Thanksgiving to Christmas, just plain sucks.

On the bright side, the Real Estate energy on all levels, jumps way UP on January 1st of the new year.

Why do Landlords detest the Holidays?
Well, during this November and December time period, most tenants are NOT even contemplating MOVE mode. Thus, there are very few actual moving tenants to show, work, and engage with. In addition the Holidays are NOT a landlord's best friend because there seems to be an overabundance of INVENTORY for picky and choosy tenants to dissect and negotiate upon. Landlords and Lease Listing agents often forget that in addition to the privately owned Abor MLS Leasing Marketplace, landlord property is also competing with non-mls rental inventory as well. For example, apartment complexes, craigslist for rent by owners, and yard sign for rent by owners. Thus this combination and perfect storm of factors leads to a slow and challenging 2 month period for landlords.

How can Landlords overcome the Holiday slowness, GVM?

My suggestion for landlords is to do their best to avoid tenant vacancies during this November, December time period. Sign leases with end dates in the Spring, Summer, Fall or even Jan 1st. (just NOT November and December). Another idea for landlord's is to drastically undercut and under-price the rental, in hopes of getting more showings and attention.

Here's an idea, perhaps the landlord finds a 6 month tenant, and then has a vacancy during the busier spring and summer rental months?

Maybe the Landlord can furnish the vacant rental and generate income via short term AIRBNB's, until January 1st. Offer family and visitors a discounted short term rate?

The Holiday leasing marketplace favors the Residential Tenant(s)?

Yes, now is an excellent time to be a tenant searching for a new lease and place to live. Why is that? Tenant's have tons of inventory to chose from. Tenants have a better ability to negotiate the price down, especially if they can move in quickly. There are few other tenants for their application and money to compete with.

If you have any questions about the Central Austin and Central Texas leasing market, as either a prospective tenant or landlord, contact Austin Silent Market's Licensed Agent and long time Central Austinite, George Vance McGee @ 512.657.9281 iphone, georgevance@gmail.com We can go over, meet in person, or discuss your unique real estate situation. Best! Happy Holidays!

Comments

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