Summer Surge: Why the Rental Market Heats Up When the Temperature Rises

As the sun shines brighter and the summer holidays are in full swing, the rental market is also enjoying a a sizzling season. For us at Bidwells, the summer months are a whirlwind of activity as tenants and properties change hands at a rapid pace. Here’s a fun peek into why summer is the busiest time of the year in the rental market and what that means for everyone involved.

A Seasonal Spike: What the Numbers Say

If you’ve ever wondered why you see so many “For Rent” signs popping up in July, August, and September, you’re not alone. According to data from Dataloft Rental Market Analytics by PriceHubble, around a third of all new tenancies for the year start during these three bustling months. In fact, from 2016 to 2024, on average, July, August, and September account for about a third of all new rental contracts. That’s a significant chunk of the rental market’s annual activity!

Why So Busy?

So, what’s driving this summer surge? Several factors come into play:

1. Graduates on the Move: As students graduate and secure their first jobs, many are on the hunt for rental properties in new cities. The transition from university life to the professional world means lots of people are searching for new homes.
2. Fresh Faces at University: Each year, a new wave of students arrives at universities and colleges. With 2024 seeing a 0.7% increase in student applications compared to 2023, this year is set to be one of the busiest on record. More students mean more demand for rental accommodation, particularly near campuses.
3. Summer Shifts: Summer is also the perfect time for people to make a move without disrupting their work or study schedules. Whether it's moving in with friends or relocating to a new area, many choose this time to settle into their new homes.

How We Can Help

Whether you’re an experienced landlord looking to expand your portfolio or letting your home for the first time, we’re here to support you through every step of the process. At Bidwells, we offer a sliding scale of services tailored to match your experience and desired level of involvement.

For landlords, we provide comprehensive property management solutions, from finding and vetting tenants to handling day-to-day maintenance. If you’re new to renting out your property, we offer guidance and support to ensure a smooth and successful experience.

For prospective tenants, we’re dedicated to helping you find the perfect rental home. Our team is here to assist with your search, provide valuable insights, and make the renting process as straightforward as possible.

As we dive into the summer rental rush, remember that staying informed and prepared can make the process smoother and more enjoyable. Embrace the seasonal shift and let us help you navigate the bustling rental market.

Here’s to a hot summer, both in terms of weather and rental activity!