What does late winter, early spring mean to apartment owners? Time for optimism? Turning over a new leaf?
I have seen three major events I can consistently look forward to each year at this time. Landscape improvements is one. Planting flowers and bushes and refreshing beauty bark, pool preparation. Maybe not in February but it might be time to get these jobs on your vendors’ schedules.
Another is owners pulling the trigger on selling their property. It’s mainly a psychological trigger. There is nothing magical about the January/February time frame that makes this the best time to sell property, but when we’re thinking about it for a while, the lazy summer months roll into a busy fall and holidays, so we put things off. By the first of the year we feel we’ve waited too long and our motivation is higher. Starting my fitness program. Reshuffling my investments. And putting my property up for sale. Done!
The third event we often see is new tenant demand. Not right away in the new year but soon after. The new year might mean starting a new job, finally moving up to that nicer apartment, or just feeling ready to do what, for most people, is a highly stressful disruption in their lives: moving.
We won’t discuss the negative late winter events like tax season and snow storms – because we’re real estate investors and therefore optimists!