Vacancies during December & January

[Dale Osborn]

Back when we had apartments there was a trend that I noticed and was wondering if other investors have seen this same trend. At the end of November tenants move out and due to the holidays, or whatever, you can't get anyone in for December of January. February rolls around and you are full up again. My personal theory at the time was they pack up and move out to stay with relatives for the holidays and then start looking for a place after the new year. I never had the same tenants return and rerent, but it just struck me as being odd that numerous individuals would follow this trend. Any other investors that can kick in any odd trends in their market or explain this trend better?

[Lynn McGeein]

I purposely structure leases so they end March through July. Haven't noticed people moving out in November, but definitely know it's much harder to rent Nov-Jan than the rest of the year. If I have a vacancy Oct or Nov, I prefer a 9 month lease, then start one-year renewals.