Posted by phil fernandez on March 10, 2005 at 11:48:12:
Oh ya. My mistake. I forgot who I was responding to.
finding tenants in winter - Posted by tony b
Posted by tony b on March 10, 2005 at 06:56:55:
Friends,
I am a newer investor with a vacancy in a duplex that I have been trying to fill in winter. Is it just me or do people slow down moving in the winter (in states where it is cold and snowy) like they tend to slow down buying single family homes?
Should I try to avoid lease expirations in winter months when possible?
thanks for your thoughts.
Tony
Re: finding tenants in winter - Posted by Sean
Posted by Sean on March 10, 2005 at 13:29:21:
I live in Pittsburgh, slowest months for finding tenants are definately from about October through December… things start to pick up after the holidays in Jan… The absolute busiest months seem to be around May.
Re: finding tenants in winter - Posted by NICK
Posted by NICK on March 10, 2005 at 12:25:49:
If you can handle dealing with section 8 and government agencies, there will always be tenants available
Re: finding tenants in winter - Posted by Mark-Chgo
Posted by Mark-Chgo on March 10, 2005 at 11:19:34:
In the future, whenever you can, you should have your leases end during the time between the end of April and the end of September. That’s generally the most active period for those looking to move in cold weather areas.
Re: finding tenants in winter - Posted by Pookie Wookie
Posted by Pookie Wookie on March 10, 2005 at 10:00:22:
Everything slows down in the winter because it’s cold.
You should do like what I’ve done to keep tenants. Let the lease expire and let them go month to month.
Re: finding tenants in winter - Posted by andy_pa
Posted by andy_pa on March 11, 2005 at 20:37:01:
it’s about the same up here in sharon. january more or less stunk, but things are picking up a bit now, more calls anyways.
sean, what kind of deals do you do? I’m doing mostly lease options up here, and we’re looking at rehabbing a MHP this spring
Re: finding tenants in winter - Posted by phil fernandez
Posted by phil fernandez on March 10, 2005 at 11:37:03:
Huh. How is letting the lease expire and then going month to month enabling you from not having to rerent during cold weather. Example, your lease expires in September so you don’t renew another one year lease term, but you go to month to month. So the month to month tenant gives you 30 days notice on November 1st saying he’s leaving at the end of November. There, you have to rerent the rental for December when the market is really slow.
Re: finding tenants in winter - Posted by Pookie Wookie
Posted by Pookie Wookie on March 10, 2005 at 12:57:58:
My philosophy is, the more you treat your tenants like adults and more comfortable they feel staying in your home - the less likely they will look for another place to move to.
You should get your tenants thinking along the line of Wanting to live in your properties and not feeling that they are tied to it.
Re: finding tenants in winter - Posted by Mark-Chgo
Posted by Mark-Chgo on March 10, 2005 at 11:43:27:
You forget who you’re responding to. Pookie is probably expecting a rise in global warming so suddenly, that it should be 90-degrees in northern Minnesota during December and January. Therefore, everyone will be flocking from the 150-degree heat of Florida and Southern California during that time.
by that logic… - Posted by David Krulac
Posted by David Krulac on March 10, 2005 at 14:19:30:
you should have all rentals as month to month from the start, which may not be a bad idea.