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Taxes help the rental market...don't slow down.

By
Services for Real Estate Pros with HomePointe Property Management

Applicants are moving this month at a high rate and taxes might be the reason.  During the month of February and March people are getting there taxes back and making a move.  During late March and April a drop might happen from tenants who dont want to move because money is tight since they must pay taxes.  Hopefully people will be getting taxes back this year and not paying. 

 

I really think with taxes in the mail, people will be changing the address where they will be sent.

 

 

Sidney Poritz

HomePointe Property Managment

916-429-1205

Winston Westbrook
Westbrook National Real Estate Co - Victorville, CA

Good post Sidney. I think you are way on target with that observation. I am sure a lot of people are going to use the money to make a change. Hopefully they make the right decision.  

Feb 25, 2009 03:50 PM
Michael Johnson
sold1day.com - Corpus Christi, TX

I entirely agree! interesting insight!

Feb 25, 2009 05:33 PM
Betty Fletcher
Fletcher Property Management Inc CRMC® * www.FletcherPM.com - Little Rock, AR
MPM, RMP - Little Rock Arkansas Property Manager

Very true.  February is always our busiest month of the year cause that is when the tax refunds arrive!

Feb 26, 2009 09:58 PM
Robert Machado
HomePointe Property Management, CRMC - Sacramento, CA
CPM MPM - Property Manager and Property Management

I had never really thought about this but it makes sense.  I am sure that is why December is slow, money going too many other places.

Feb 28, 2009 10:21 AM
Diane Rice
Rice Prprty Mgmnt & Rlty, LLC, South Holland, IL - Lansing, IL
SFR, SRES, CNC

Hi Sidney - You are right on with that... when folks receive their income tax refunds, it's a time to make that move because they have enough to pay for security deposit and rent...  That's a time we have seen our phones ring... the trick though, is to catch them while they are hot!!!  You snooze, you lose, for they will go to the next person.... (Some of them we don't want anyway)

Thanks for posting this in the  Property Management Group! 

Mar 01, 2009 03:52 PM
Wallace S. Gibson, CPM
Gibson Management Group, Ltd. - Charlottesville, VA
LandlordWhisperer

Sidney - excellent point.  I remember when some large apt complexes in a soft market would do e-filing and take electronic refund for move-in monies just like car dealers used to do....

Mar 02, 2009 06:20 AM