Calgary’s rental market can change from year to year.
However, well-experienced property management companies and their managers are up to date with the very latest. Wondering when the best time is to rent out your home is a common question amongst many owners. There isn’t always a straight across answer and can have various factors that you need to keep in mind.
Here is what can determine the timing of your listing.
Three Factors That Determine The Best Time to List Your Rental Property In Calgary
1) Number of Listings:
The number of listings in your area will have an impact on the best months to rent your Calgary property. According to rentfater.ca, when there are a higher number of listings, it’s typically an indication of more people looking to rent. For example, moving in the spring and summer months to avoid the cold weather, settle in before the school year starts, and also avoid holiday seasons. As a result, owners will typically rent their homes within these cycles of transition. If you are working with a property management company, they’ll have the latest information on the current rental market, and guide you through the most favourable options.
2) Average Price:
Check out the other rental properties in your area to get an idea of the rent you can charge. With a local Calgary property management company, they’ll take the time to determine if there have been any rent increases, decreases, or incentives to determine the best fair market rent for your condo or home. Wondering how much rent you should charge for your home? Read our guide here!
3) Peak Rental Season
Once spring comes around, renters start looking for a fresh start and change of scenery. With this in mind, consider having your Calgary rental property ad up well in time for when people start making decisions. Typically, you should start the search for your new tenant 60 days prior to their lease ending, unless they have plans to renew. This gives you plenty of time to plan ahead and be proactive.
(Are you a renter looking for a new start in life? At Unison, we can help you. Read our guide here)
Managing your property and understand when is the best time to list your rental can be overwhelming and stressful. However, hiring a property management company gives you access to insider information, and up-to-date data on the best time to rent your property.
At Unison Realty Group Ltd. we will find the perfect rental for you in a location that fits your needs. We’ll handle what you don’t want, and you’ll enjoy the benefits.
For any questions or inquiries, please contact us:
Phone: (403) 219-3000
Email: [email protected]