In certain trades of products and services, there are times when the demand for it has its own seasonal peaks. For example, depending on where its location is in the world, certain countries will have its seasonal peaks with the influx of tourists from all over the world. Let us say for Germany, the case would usually be during the summer and most especially during the 2nd week of September up to the 2nd week of October which is the time for Oktoberfest where people indulge in the country’s famous pints of beer. Even for tropical countries in Central America such as the Caribbean and Hawaii, the seasonal peak for it is during the Summer season where you can witness people of all races, getting that perfect sun-kissed skin under the tropical sun.
Just as in vacations and holidays, there are certain months wherein influx of tenants would be going around the state or country, looking for the perfect apartment for them to stay. The reasons vary somehow, it could be they are just new in the town or state so they need a place to stay, a family which needs a bigger home for their kids or they could be just ordinary college students studying in a university and they need a great apartment which is conveniently near to their university. During these peaks seasons is when you should make yourself totally available to accommodate the best tenants possible, so when does this happen?
During Winter season
Winter season is usually the time for hibernation, well at least metaphorically, but it is the time when the demand for new apartments by prospective tenants are low. The turnover is low as well since it will be a hassle for prospective tenants to move from one place to a new one during a time when everything is just cold, usually making the activity or the process of moving out, relatively slower.
During Summer season
There is no doubt that the demand for apartments from prospective tenants usually happens during summer wherein most people are available to be able to free up their time to move to a new place. Also, the consistent weather makes it possible for one to move anytime without any fear of a snowstorm and such unlike during winter season. It is also because during this time as well, recent high school graduates which are now college freshmen will be looking for apartments near their university. Recent college graduates would also be looking for a new place to stay wherein they can start new career opportunities. With these demands, there is no doubt that the turnover rate is significantly higher compared to winter season.
With these in mind, you as a real estate investor, should prepare yourself anytime of the year to accommodate prospective tenants. However, please make sure that you scan your tenants carefully in certain ways such as checking their credit history to make sure you would not be robbed off of inconsistent rental fee in the future from an irresponsible tenant.