I was showing properties to a rental client a few days ago, and she indicated there wouldn’t be a lot of new rentals coming on the market, since it was nearly Winter. It’s a common misconception that sales of homes, and also rentals of homes, stop in the colder months between December and March. However, that assumption is simply not true. New rentals come on the market consistently, and people find the right rental homes all year round.
For example, I pulled a report from our MLS system of all homes rented during the past year. As you can see, while July and August were the months with the highest rental activity, they were followed by January as the month with the third most rented homes. (PS – for those of you who have the same issue I have when columns aren’t lined up properly on a chart, sorry about that. I couldn’t figure out how to get January and October lined up.)
The next question clients ask is usually, “okay, but which homes are renting?” thinking perhaps the type of home they are looking for won’t be available. Luckily, in the Orange County NY area, the type and price of rentals cover a wide range of options.
The rentals in the period covered by the chart included a studio apartment that rented for $625 per month, and a 4 bedroom, 4 1/2 bath colonial with 4200 square feet and 12 acres of property that rented for $3900 per month, as well as everything in between.
So, if you have any rental needs in Orange County, NY, don’t wait until the Spring to look. Rentals of all types come on the market all year round.
If you need any help at all, feel free to give me a call on 914-419-0270!