Landlords, every year we find that our larger properties in Derby are letting better in the spring and summer months. The proof in the pudding this year was when we listed a substantial 5 bedroom property in DE3 Mickleover, Derby for £1100pcm at the end of May- it flew out of the door within 10 days.
We have noticed trends in click through rates and portal enquiry levels for these types of properties too. A larger property (4 bedrooms plus) will have a dip in activity in the months between November and February and will notoriously pick up towards the end of March.
There appear to be several reasons for this all of which make very logical sense. Larger properties will tend to let to families with children. They need to make sure schools are all sorted to ensure a stress free move for both parents and children- this means that generally the move needs to happen before the start of September. Larger properties tend to have more garden space which of course looks much prettier and appealing in the spring/summer which does have an impact on the letting.
The other consideration for some applicants is how easy the property is to access and property manage in the winter months- will they get cut off by snow or flooding? Of course this could happen at any time of the year these days but it does seem to be more in the forefront of applicants minds in the colder months. Linked to this is the worry over heating costs- a larger property will no doubt cost more to run and in some cases, if the property is in a more rural location, it may have oil fired central heating which can be expensive. Again these points are always more likely to be thought about when it is cold.
In conclusion, if you have a larger property you are considering letting in Derby it would be a wise move to act sooner rather than later.
Feel free to email me for your free no obligation advice from a local property consultant and property management expert in derby.