The weeks leading up to Christmas are a good opportunity to measure what's working in your investment property against what needs to change.

The weeks leading up to Christmas are a good opportunity to measure what’s working in your investment property against what needs to change.

If your current tenants are preparing to leave, don’t wait until the New Year to take action. Stay one step ahead to manage their vacate from your investment property at the earliest opportunity.

Do you self-manage your investment? Consider advertising in advance for new tenants if you know your current tenants plan to move soon.

If you need a great tenant fast, Rent.com.au has several advertising options that give you everything you need to lease your property sooner. If you have questions, speak to our team about the best way to market your property ahead of the peak rental season in January and February.

When’s the best time to advertise my property for rent?

The time of year that your investment is either vacant or due for a lease renewal can considerably impact the demand for your property – and your ROI. In Australia, there are two high-demand periods worth considering: January to February and June through August. Let’s talk about the former.

A new year means a fresh start for tenants on the move. The school holidays across Australia and the Christmas break give families ample time to pack up and move house. This is also a time of year when people take annual leave from work to move and settle into a new location before starting a new work or school year.

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Renewing the lease or finding a new tenant in this high-demand period could work in your favour for the long term and makes an ideal time to grow your investment.

So while it’s not impossible to find a suitable tenant at any time of year, the January to February peak period will give you:

  • A greater selection of suitable applications
  • Increased demand
  • Higher quality applications
  • Greater potential to achieve the rent you want for your property

Clarify your Christmas and New Year availability (where appropriate)

If you’re self-managing your property, early December is an excellent time to communicate with your tenants. If you have an agency managing your rental, keep them in the loop. No one wants to return from a short break to find unresolved maintenance requests. So if you won’t be available or can take calls, keep those communication lines open.

What are your managing agent’s plans? Your managing agent is entitled to take a holiday, but your investment property and tenant still need to be supervised, especially if the unexpected occurs. Most agents will provide tenants with emergency phone numbers for electrical and plumbing services. They will keep on top of property maintenance issues to minimise the need for emergency call-outs.

Prioritise plumbing and electrical problems

If your property has ANY plumbing or electrical issues, fix them ASAP. Any niggling concerns you have now could become significant problems when emergency electricians and plumbers are the only help. 

In the weeks around Christmas and New Year, they’ll be hard to find and will charge accordingly, so attend to any issues early to save you money and your tenants any grief.

How’s your investment property being managed?

If a real estate agent manages your investment, December can be a good opportunity to review their performance for the previous year. Did you feel like they communicated well? Did they perform the minimum number of inspections required in your state and keep you informed about any issues?

Or, if you currently self-manage, think about your performance. Is being a private landlord worth the extra work? Consider appointing a property manager to look after your property to free up some time. 

Catch up on any requested repairs or maintenance

You may have been waiting for the summer break to consider major repairs and maintenance on your investment. Does the property need a fresh coat of paint?

This period is also a good time to catch up on outstanding maintenance requests from your tenant. If you’re keen to add value to your property and increase your rent in the following year (where appropriate), here are 4 tips to help improve your rental.

Is your property adequately insured?

Security is vital, and never more so than in today’s market. Burglaries occur throughout the year and can frequently increase over Christmas as many families choose to go on holiday.

Confirm that you have all the necessary locks and alarms on your property to prevent opportunistic thieves from tackling an unnecessary entry. Christmas is also a good time to review your current insurance policy and ensure you’ll be covered for any potential damage. 

Celebrate!

Enjoy this time with your loved ones and embrace the upcoming holiday season. Recharge your batteries and get ready to hit the ground running in the new year.

From all of us here at Rent.com.au, have a safe and relaxing Christmas, and we’ll see you again for a productive new year.

Rent.com.au

Rent.com.au is Australia's largest company dedicated to renters and is owned and operated by ASX-listed Rent.com.au Limited (RNT:ASX). For over 15 years, Rent.com.au has exclusively focused on making renters' lives easier by making it easier to find a property, secure it, move in and pay rent.

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