Statistically speaking, sales and rentals tend to fall over the fall and winter months. There is likely very little you can do as a real estate investment professional to counteract that trend overall because there are very valid reasons why people don’t like moving in the winter.
However, there are a few things you can think about adding to your practice that may help lesson the blow.
Provide Pictures
One of the reasons both potential homeowners and renters slow down or halt their searches through the winter months is the fact that they really want to see what the yard is like. This is particularly true in Northern climates, though it does have some impact in the South.
Though their home may look exactly as they view it eight months of the year, they need to feel confident that the property will work year round. Counteract their concerns by gathering pictures of the property throughout the year and have them available at the showing.
Inclement Weather Incentives
Moving at any time of the year can be a major drag. In the summer, hot days can make moves miserable and in the winter, snowstorms and cold are always a potential moving day nightmare. Can you find a creative way to overcome the weather woes?
Consider offering an open move-in window so bad weather days can be avoided, or offering a snowstorm discount if moving day has to be delayed. You may consider hiring a couple of moving helpers to help new tenants get moved in quickly.
Maintain The Basics
Don’t be tempted to skip basic upkeep on unattended properties, no matter the time of year. Most real estate investment professionals would never dream of letting sidewalks go unshoveled or weeds to take root, but too many rental properties have been shown in less than desirable condition to not mention the importance of basic maintenance. You won’t attract the type of ideal tenants who care if you (and your team, if you have one) don’t appear to care.
Light the Way
Though it may increase your electrical bill ever so slightly, ensuring you have adequate lighting in and around your property through the fall and winter months can pay big dividends. Not only is increased lighting a great low-level security feature, reducing the odds of vandalism and break-ins, it also helps illuminate properties that are for rent or sale. Good lighting is essential in the darker months.
Recharge Your Batteries
Finally, remember, a slow down in business is not always a bad thing. Take advantage of the ebb and flow and take some time in your less busy schedule to attend to matters that you’ve put off through your busy season. Take some time to reflect, or take on some new learning experiences to inspire you. With the holidays coming and the New Year ahead, it won’t be long until Spring returns with new opportunities.
