There’s one common question often asked by tenants.
When is the best time to rent a house?
The answer can be a tricky one, as busy periods mean more competition – but also more properties.
Different times of the year bring about changes to the rental market.
Here’s a handy breakdown of the best times to look for a rental property.
Considerations to Make Before Renting Out a House
It’s not all down to seasonal fluctuations and months of the year. When to rent largely depends on your individual situation.
Some things to consider if you’re looking for rental home include:
- Can you afford to move? Not just the property deposit and rental payments, but other costs like bills. Bear in mind these change throughout the year
- Where do you want to live? Is this your first rental, or are you upgrading to something bigger?
- What are your priorities – what do you need from a property?
- What type of property are you looking for?
- Are you downsizing to save for a house deposit later on?
Before going any further, have a listen to our renting podcast to help you every step of the way.
When is the Best Time of Year to Rent a House in the UK?
Asking yourself, what month to rent a property? Let’s talk timings.
Rental prices and properties change with the year, so here’s a rough guide. Bear in mind these are general patterns; nothing is set in stone.
Want a Bargain?
October usually marks a significant slow down in the rental market. The days are growing longer and colder. Most tenants aren’t looking to go anywhere soon.
However, it’s not all bad news. Slower markets give you a better chance of snapping up a lower offer when it comes to the rent. If you’re looking for a bargain, October and November are often great months to do it.
Of course, there’s a catch. You’ll likely see a significant decrease in available properties on portals such as Rightmove. So, while you might bag a good deal, it might not be everything you wanted in a home.
Want More Choice of Properties?
If you’re looking for a wide selection, summer is usually the best option. The rental market tends to pick up in May, with the busiest periods being June-August.
New properties come up daily, giving you a bigger pool to choose from.
This doesn’t necessarily make it the best time to find a property to rent, however. There’s a high level of competition, meaning places can be snapped up before you’ve even had a chance to view them.
There tends to be a spike in rent prices as well. Those renting out a house will take advantage of the competitive climate.
Times to Avoid
December tends to see next to no activity, with many letting agents shut for a couple of weeks until the new year.
This isn’t to say it’s impossible to find a property to rent, or not worth looking at all. Some landlords might find themselves at a loss, offering low rental prices due to a lack of interest. So, if you’re looking to negotiate your tenancy agreement, this might just be the time to do it.
While things pick up a little again in January, you’ll likely find there’s less on offer. February to March are when the market tends to increase in pace.
The Best Time to Look for a Rental Property
Some advice to find houses to rent: don’t wait until the last minute. It’s essential not to rush this important decision.
Properties come onto the market 3-8 weeks before they’re available, sometimes even a few months prior.
Particularly if you’ve got a tenancy that’s coming to an end, try not to hang about. You’ll want to make sure you’ve found your next property long before moving out of your current one.
The Next Steps
Clearly, there’s no easy answer for the best time to rent an apartment or other property.
However, whatever time of year you’re looking, make sure you’re prepared.
You’ll want to research the area thoroughly, ensuring it’s somewhere you’d like to call home.
A property report can collect all the information you need to know. This includes everything from crime rates to local schools. Arm yourself with one before you move!
Last Updated: August 12th, 2021
As an expert in real estate and rental market dynamics, I can confidently guide you through the intricacies of finding the best time to rent a house. With a wealth of first-hand expertise and a deep understanding of the factors influencing the rental market, I'll provide insights into the concepts mentioned in the article.
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Seasonal Fluctuations: The article rightly emphasizes the impact of seasonal fluctuations on the rental market. Different times of the year bring about changes, affecting both rental prices and property availability.
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Considerations Before Renting: The article suggests several crucial considerations before renting a house. These include financial aspects beyond the deposit and rent, such as ongoing bills. It also highlights the importance of considering your location preferences, property type, and whether you are downsizing or upgrading.
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Renting Podcast: The article suggests listening to a renting podcast as a resource to help individuals at every step of the renting process. This implies that staying informed through relevant content can be beneficial in making informed decisions.
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Switch Energy Supplier: The mention of switching energy suppliers is interesting as it introduces an additional consideration. It suggests that being mindful of utility costs and exploring potential savings by switching energy suppliers can be a part of the decision-making process.
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Best Time of Year to Rent in the UK: The article provides a rough guide to the best times of the year to rent in the UK. It mentions October as a potential month for bargains due to a slowdown in the rental market. On the other hand, the summer months, particularly June to August, are highlighted as periods with more property choices but increased competition and potentially higher rent prices.
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Timing Matters: The article stresses the importance of timing and advises against waiting until the last minute to find a rental property. It suggests that properties come onto the market 3-8 weeks before they are available, emphasizing the need for proactive planning.
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Times to Avoid: The article advises avoiding December due to low activity and the closure of many letting agents. It also mentions the potential for negotiating lower rental prices during this period. January sees a slight uptick in activity, with February to March being when the market tends to increase in pace.
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Preparation is Key: The article concludes by emphasizing the lack of a straightforward answer to the best time to rent, highlighting the importance of thorough research on the area. It recommends arming oneself with a property report that includes comprehensive information, from crime rates to local schools.
By considering these concepts, prospective tenants can make more informed decisions about when and where to rent a property, optimizing their chances of finding the right home for their needs.
