It's summertime! That means backyard barbecues, afternoon naps in the hammock and…rental property maintenance? You don't have to choose between having fun and working on your properties, but when you're planning your summer, there are a few things you should consider doing to improve your rental homes or your portfolio.

Summer is the traditional moving season, which means it's also the time of year when many tenants' leases expire. They're going to be making a decision about moving or staying, and it may not always come down to the price of rent.

People get bored with their living situation, and compared to buyers, it's much easier for renters to up and move. Going into the summer season, think about what you can do to make your properties more appealing to your renters.

Improving outdoor spaces

Summer is a time of outdoor barbecues and yard parties. Are there things you can do to enhance this temporary move to the yard?

Decks are always appreciated. People love the look and utility of a wood deck for their outdoor furniture and warm-weather meals and parties. If you can add a deck to the backyard, it is almost always a good decision. It's a relatively inexpensive improvement and will add to your tenants' quality of life. The earlier in the season that you do it, the more likely your tenants will be to renew when their lease expires.

If long-term maintenance is a concern, consider spending a bit more and buying the new wood-look materials that are impervious to moisture and rot. They're manufactured, not natural, and they will last a very long time with little or no maintenance.

Stone walkways or patios are just as popular and also a low-cost home improvement. This is an alternative to the deck and of course will last as long as the home. Just stay with the theme of focusing on seasonal outdoor living.

Buying a rental in the summer

Summer is also the consumer home-buying season, which usually means greater competition for properties; you need to decide whether to add to your portfolio during the summer or wait for the buying pressure to die down.There are definitely far more buyers in the market during the summer months. However, most of them are typical retail buyers looking for turn-key properties or cosmetic fixer-uppers. If you are focused on foreclosures or properties needing more significant rehab, they will not be your competitors. The fact that other investors are shying away from the market during the summer works in your favor. On the negative side, rehab can be more expensive when contractors are busy.

You can't control when foreclosures come to market, so avoiding the market just because it is summer could be a poor decision. You just may grab up a bargain while your investor competition is enjoying a summer cruise.

As for distressed homeowners who could be ready to sell, there could actually be more opportunity during the summer. This is a time when many people are changing jobs and some must relocate to do so.

Evaluating your investment options

As with most things, there is the half-full or half-empty glass view for investors. Depending on your market and whether your state is a judicial or non-judicial foreclosure state, summer could be time for a vacation or a buying opportunity.

Judicial foreclosure states are lagging in clearing out the backlog of foreclosure homes, so they may provide more summer inventory at decent prices for investors.

Regardless of whether you choose to buy any new properties this summer, consider making a few improvements to the ones you have - this will keep your renters happy and increase the value of your rental homes. You'll still have plenty of time to enjoy the season, but landlording is a year-round job, and improving your properties is a great way to nurture your investment.

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