College Rental Turnaround

1 Reply

I have a small condo that my daughter and her fiance have lived in while attending college. They are getting married soon and just went under contract to buy their own condo in a more family friendly area on the other side of town. They are scheduled to close on July 23rd. They have a pre-approval letter from the bank, but they are young, fairly low credit, etc, so I am just a bit worried that even though their bank said "yes" something could fall through during the underwriting process. I hope not, but I know it's possible.

My issue is that the 'Operation Move-In' date for on-campus housing is August 15th, so I assume most students will be moving in on or around that date. If I could find a temp instructor or graduate student, they may want to come in even earlier than that.

So, my question is -- Should I begin my marketing efforts here soon and just explain that I won't be actually signing the lease until July 23rd when my daughter's financing is formally approved? Will that scare people off thinking the deal might fall through? Or, should I wait until after July 23rd to even put the 'For Rent' sign up?

I have a rental with students. Don't wait to get prospective tenants. Offer an incentive for a good one to wait for your late date. Talk to school housing office for referrals.

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