It’s no secret that the wet season is that time of year most landlords like to avoid when it comes to leasing, of course there are many reasons for this but have you considered that there might also be some positive aspects of leasing at this time of year?
Below I list some of the things you may wish to consider when leasing a vacant investment property during this time of year.
With the heavy rains comes lush, healthy and green gardens, these gardens require more upkeep with the more water they receive. Be prepared to get the gardening gloves out if you live close by or if you live interstate you may want to consider engaging a gardener every few weeks. Ensuring your garden is maintained will pay dividends when it comes to leasing and in particular will do a great deal for your property street appeal.
Coming out of the dry season and usually when those first rains arrive we can receive an influx of maintenance requests for leaks. Sometimes a leak won’t be evident until the rain arrives. We recommend to get leaks tended to as quickly as possible to minimise any damage to the property and minimise any discomfort to the tenant. Similarly if an air conditioner has not been used throughout the dry season and is switched on for the first time in months when the hot humid weather kicks in this may be the first time we are alerted to an issue or fault with the unit so it is best to be as prepared as possible for any maintenance that might come your way.
Lastly, pool maintenance is also worth considering as pools do require more frequent top ups due to evaporation in this heat. As a result more chemicals may be required so during a vacancy period we would recommend engaging a pool contractor to carry out quick checks every few weeks on your behalf. This will save your pool from going green and will ensure the water levels are kept topped up ready for tenants to move in. This will also benefit you when it comes to property presentation during open inspections on a hot day having a sparkling crystal clear pool.
It is very common for people to arrive for the first time in the Northern Territory during the dry season. If we have a new arrival to Darwin searching for a rental property they are most likely only willing to commit to a six month lease while they find their feet here. On the flip side, when we see tenants searching for property during the wet season they are typically already committed to Darwin, they have usually lived here for a while and are either already settled here or happy to commit to a longer term lease from 6 months, 12 months or more.
Christmas is a quiet time of year. We do start to see tenant activity slow down from mid December until New Year. This doesn’t mean it isn’t possible to lease your property during this time but it is best to be as strategic as possible with your marketing to make sur e you are getting the most value of out the marketing package you have selected. The Premier Packages we offer for marketing enable your property to be listed at the top of your suburb for 30 days on a rotating pattern. Think about where Christmas week will fall during that 30 day period and how that might affect your leasing campaign. It is doable but does require some pre planning and strategies put in place which we can help you with.
With the school year starting in January this can be an extremely busy time for leasing when a property is in a popular school catchment area. It is wise to consider your property location and the schooling in your area, perhaps you can be strategic with your marketing and highlight the proximity of your home to a particular school or service. This is a highly lucrative marketing strategy at this time of year which will pay off when it comes to tenant enquiry and tenant calibre.
Regardless of the time of year the three most important aspects when it comes to leasing your property are price, presentation and marketing. When you are meeting the market in all of these areas you will notice how smoothly your leasing campaign will go. It is very important that time is spent looking at these areas before you go to market especially during a seasonal time where tenant activity can be slightly lower than the rest of the year.
If you need any further advice when it comes to leasing your property during the wet season feel free to get in touch!