When should I list property for rent?

9 Replies

Hey guys,

I've done a little house hacking and purchased a soon to be rental property that I've been living in for about a year now. I will be moving out officially around the end of August and then renting it out.

When should I start advertising it for rental prospects if occupancy isn't until beginning of September?

If possible, start now! Just make sure prospective tenants know when occupancy will be available prior to showing them your place. The sooner you start, the more time you have to choose the best qualified tenants.

Now is definitely the way to go. You want people that will be giving their current landlord a 30 day notice. This gives them time to do that.

Hello Marcus,

I would advertise now as well, but check into what is normal for your area.

In my area, we tend to advertise upcoming vacancies months in advance, so showing an occupied property is normal.  I find that my better tenants are typically the ones who were looking for an apartment 2-3 months or more in advance.

If you advertise now, just be sure that it is clear when the move in date is, and be prepared for people who won't read the ad and expect to move in immediately.  

Kelly

I bought a SF last week and had a "Coming Available Soon" ad posted with an availability date even before the contract was fully signed!

We advertise our properties before the tenants have moved out, but don't show a unit until the tenants are out AND it's clean.

That gives us ~30 days to play with the price and generate interest. This is a great way to keep close tabs on the rental market, and fill properties quickly.