Timing of Renting 3 Townhomes

7 Replies

Hello- 

First time poster here but pretty avid reader of the forums and looking for some feedback on renting out some townhomes.  I'm jumping into my first multi-unit townhouse property with 3 total units and we are going to manage ourselves for various reasons. 

My main question is for maximizing rent, does it matter if we release all 3 units on the rental market at once or do we stagger them so we don't flood the market? We are in Seattle and the rental market is extremely strong; our other single townhome rented out the day it was listed. 

My guess is that it doesn't really matter but am curious on others experience with the rental psychology. 

Thanks!

Loren

Just list them all. Let the tenants pick the ones they want. They will rent quickly.

I agree with Wilson.  No need to overthink it.  Where within Seattle are the townhomes?

I'd list them all. You want to fill them as quickly as possible. Don't let them sit vacant. Ideally you'll end up with 3 qualified tenants after your first round of showings and be able to fill all three units!

I had this situation when renting an up/down duplex and I listed them both at the same time. The only downside that I saw was that everyone wanted to see both units (no matter which ad they saw and responded to) so showings took forever. So you might want to try to avoid that or you'll spend an hour with everyone who shows up. Just show them the unit for the ad that they respond to.  

Thanks for responses; this is inline with what I was thinking.  I expect them to rent out very quickly. 

@Andrew - they are in West Seattle by the new Triangle developments on Fauntleroy.  

List them all!

@Loren Buchanan  

As the other's have said, list them all. As you begin screening tenant's, you will likely run across more than one that meets your criteria, so as one gets filled, you'll have backups for the others. Also, takes up less of your time to do them all at once versus dragging it out over weeks/months.

It's not such thing as flooding the market with rentals. What you should find out is where the properties are located. How many people own verses rent.

Some areas have more rentals, the more the merry, the better chance at renting fast. But list them all. The faster you get tenants, the faster you get cash flow.