Best month for leases to end to refill quickly

[Robert M.]

Hi everyone at BP!

I have been reading many hours of forums and have learned a lot about residential income real estate. Thank you all!

I have 5 units with leases beginning shortly after purchase (Lease start dates of November, September, February, June and April. I would like to know if anyone has thoughts on best month to end 12 month leases. If there is a real benefit, I can begin writing 10 or 14 month lease to get to that best (price and quick fill) time of year. My properties are 1 Duplex and three SFH.

thanks

[Ricky A.]

The *best* lease end month may depend on whether there is something unique about your tenant base. For example, in the specific area where my units are, there are two major med schools nearby. Therefore, there is a significant benefit to having leases start in late spring to match the moving times of new doctors doing their residency and fellowships.

If there are no circumstances that create a perfect lease time, maybe consider staggering your rentals, so you have less chance of multiple simultaneous vacancies. In that case, I would ask what the worse leasing months are (I've often heard the winter months during the holidays) and avoid those.