Every year, as we approach the festive season, people ask me: “Leah, will tenants move into my property over the Christmas holidays?”

This is a good question and an important one too. Because if you pay for your property and settle from November onwards, it can take longer to find a tenant.

In this article, you’ll learn the answers to some of the most common questions you might have. 

Plus, we’ll discuss the game plan to get your property rented.

Why does it take longer to find a tenant closer to Christmas?

Fewer tenants are looking to move house over the Christmas break. And by the Christmas break, we’re talking late December to early January. That’s because people go away for the holidays and are less likely to look for a new rental.

It’s still possible to find tenants during the holidays. In the past, I’ve even had people move into houses on New Year’s Day!

So, it’s not impossible to find a tenant, but it can take more time. So, expect fewer people attending viewings because many are on holiday.

What if my property settles over Christmas?

Developers often push for settlement to happen before Christmas.

They’ll try to get all the building work done on time. That’s so they don’t have to keep paying interest on the money they’ve borrowed over the Christmas break.

If you’ve got a settlement coming up, it’ll likely either settle before Christmas Eve or in early January. No settlements happen between Christmas and January 6.

This is because the period between December 23 and January 6 (sometimes January 13) isn’t considered “working days” in most contracts.

So how do you know when your settlement will be? Developers will issue a “settlement notice” 10 working days before settlement.

In 2024, if a developer gives you notice before Friday, December 6, you’ll settle before Christmas. If they give you notice after this date, you’ll likely settle in early January.

So if you receive a settlement notice on Friday, December 6, or after, you won’t be paying that mortgage until the new year.

Is Opes Property Management open over Christmas?

Yes, Opes Property Management remains open over Christmas. We have a skeleton crew working through the holidays.

This means we’re still available for viewings and handling tenant queries. There’s almost always one call about the oven on Christmas Day!

We’ll be showing properties, although that doesn’t guarantee tenants will show up or sign tenancy agreements. But it does mean our team is still working hard for you throughout the break.

The period tends to be quieter, with many people away, but we’ll be doing our best to get your property rented.

Keep in mind moving companies might be unavailable, and this can delay tenants moving in.

More from Opes:

• What happens if I settle a property around Christmas? (Article)
• 7 alternative gifts for property investors at Christmas? (Podcast)
• Vacancy rates: How long does it take to find a tenant? (Article)

What if I need to find a tenant over the Christmas break?

If your property settles from mid-November onwards, finding a tenant can be tricky.

In Auckland, it can take up to six weeks to secure your first tenant. So, if you settle in mid-November a tenant would usually move in right around Christmas.

But with the Christmas break, this can be delayed, so you should factor in more vacancy over this period.

One option to handle the cashflow is to talk to the team at Opes Mortgages. They can organise a buffer facility where you have a loan available to cover these costs if you need it.

If you aren’t using Opes Property Management, be sure to check if your property manager runs a skeleton crew over the holidays.

Top tip for managing Christmas tenancies

The standard fixed-term contract for tenants is 12 months.

To make your life easier, my suggestion is to fix the tenancy for 15 months when renting over Christmas, whichmeans next year you don’t need to find another tenant over the Christmas break.

Instead, you’ll potentially look for a new tenant in February or March.

If you fix for 12 months you are signing yourself up to find a tenant over Christmas ... every year.

Fixing until February or March leaves you with a much better time to rent your property, when the fixed term comes to an end.

Should I worry about trying to find a tenant over Christmas?

If you are looking for a tenant from mid-November onwards ... you should prepare for a slightly longer vacancy. That’s if you’re settling your property pre-Christmas.

I think the best thing to do in this situation is prepare for the scenario where you can’t find a tenant for a few more weeks. That means you won’t be stressed about finding a tenant on Christmas Day.

So plan on setting up a buffer line of credit with your mortgage adviser, or using the cashback from the bank to help bridge the cashflow.

In the meantime, our team will be here doing the best we can for you.