The peak rental season runs from May to August, which is the busiest time of year for rental properties. This is the time of year when we have the most properties available. Are you affected by this as an investor? Due to the high demand during the summer months, the market is hot and properties are renting quickly. Supply and demand are always in play.
Several factors contribute to this demand:
- To make their transition as smooth as possible, families wait until summer to move. Families moving during the summer months avoid disrupting their children’s school year by moving in the middle of it. With children in school, it can be difficult to pack up and move across town, even if it’s not far.
- In addition to students and graduate students, properties are also in high demand during the summer. Most recent college graduates are looking forward to moving into their first post-grad home and are frequently relocating to a new city or state for their new jobs. Graduates often choose to rent as their first step after graduation due to the uncertainty of their new careers and the lack of savings to buy a home as soon as they graduate.
- Peak season is also driven by college students, who want to guarantee a place before school begins in the fall. There are multiple higher education institutions in Broomfield, Denver, Fort Collins, and Greeley, which are all part of the Colorado student rental market. Students attending universities in Denver, Colorado Springs, and Fort Collins are served by Colorado Realty and Property Management, Inc.
- The final aspect is the seasonality. During the late fall to early spring months, many states in America are affected by snow and winter storms. Most people would avoid moving under adverse conditions due to the danger and difficulty of moving.
All this explains why many investors and property managers try to rent their properties during these months. A 14- or 16-month lease which ends during the peak rental season is one way to get back to a preferred rental cycle. The peak season is currently in full swing. Now would be a great time to get started if you’re interested in renting a property, want to find out a rental price, and want property management services.