You’ve probably heard before that September is the Income Property Month.
And why is that?

Summer time is usually slow in Real Estate, people take vacations, kids are off school, etc. etc. Then comes September. But before we go on, lets rewind a bit, so I can explain why is best to list after the summer.

As you already know, Montreal official moving date is on July 1st each year. Most residential leases end then. So when an income property is listed after July [New leases are signed, old ones renewed, etc], as an owner, you will know exactly how many tenants remained and how many are gone. The vacancy rate is very clear. Then you can price and market your place according to it.

This information is crucial for those looking to invest, because it gives them the certainty of the income expected from then until june of the following year.
It will be clear for buyers to know what they are getting into, whether they want to repossess one of the units, rent the whole building or renovate a few apartments to later increase the rent.

Buyers who are looking into income property for just an investment, they will be happy to know that there are still plenty of new listings that come out in february. So, for sellers the timing is quite flexible: List in September or wait until the winter time. Either way, there will be buyers.

If you are interested in selling or buying an income property, contact me today.