Do you recommend advertising for tenants before closing the house

[Lei S.]

I am very new to rental investment. Recently, we made an offer to a house. Now it is in pending (applying for loan, home inspection in 10days...the closing date is set for March 28-about 50days away). I am wondering when should we start to advertise the house online? (We already got the permission to use the sellers' photos for advertisement.) And is it a good idea to set the rental available date as April 1 or May 1? The house is in great condition we think. Many thanks for your inputs.

[Clayton Mobley]

Hey @Lei S.!

I'd make sure to get the sellers permission, but if it's a buyer's market there (like it is here in Alabama) they'll probably be happy to let you show the house to prospective tenants. I see absolutely no problem in showing the property to tenants with an expected move in date of mid-April or whenever you feel like you'll own it ** Just Be Honest **. Tell the tenant you have to wait to close, and tell them there is always the possibility of complications. 

As long as you are up front with potential tenants and cover your basis, why not get it rented as soon as possible? We usually list properties 2 to 3 weeks before they  become available, and sometimes that results in a zero transition time. We make sure to inform the tenant that there could be complications, but as long as your up front, usually people will understand.