Manic Monday - A Date for Your Diary

It’s that time of the year again when we all look for a fresh start, to wipe the slate clean and start again. Christmas does this to us all because it marks the end of the old year and the beginning of the next. Most of us do literally stop just before Christmas and startup again in January.

Unlike any other break such as a summer holiday, for many of us the Christmas marks an end and a beginning and we all have more time for reflection than we have at any other time. We reflect on all aspects of our lives evaluating the good the bad and the ugly. Sadly for some this will mean starting the New Year by leaving a marriage or a relationship which makes today Manic Monday, as described in an article in The Times.

Manic Monday doesn’t just happen today – it happens at this time of the year every year, and as a sophisticated property investor – you should make a note in your diary. It’s a fact of life, a sad one, but a period of time to be aware of. When relationships break down one partner will be looking for a new home. So today will be especially busy for letting agents. That’s why it’s important for you to make a note of this date.

There are other important dates for your diary; one of which ties in with ‘Manic Monday’ and that is the property developer’s end of year. Most UK property developers have a year that ends at the end of December, or the end of June. End of year or end of half year are usually frantic times for property developers as they will be keen to hit their targets against forecasted sales.

Important fact – sales people have targets. Hitting targets gives them commission and bonuses. Large property developers are divided into regions, and each will have a target that cascades down from the Sales Director, to Sales Managers, to Sales Executives etc.

Here are another couple of dates for your diary – The middle of May and the middle of November. These dates are about as late as you could push it to complete a deal using a mortgage with a big developer.

If you want to get a super deal from a developer for a stock unit – the time to ask is in the middle of May or the middle of November. If you have cash – you can leave it much later – but you must complete the deal before the developer closes the book.

If you have just completed the purchase of a stock unit from a major developer and are looking for a tenant – Manic Monday might be good news for you.