I have always listed a rental after someone moves and I can clean up etc. Many times word of mouth or a sign does the job. It seems like I always lose a full months rent though by the time it all works out. I am not sure if this is what most people experience or if better management can remove that?
Anyway, I am trying to maximize returns and run things better now that I am setup as a real business tracking everything to the penny, following proper LLC safeties, and added 4 more units, etc.
A recent 4 unit building I purchased is going to have it's first vacancy. They gave me their 30 day notice. I listed it today on Zillow and already got an inquiry. I might have been a little hasty because I am not sure how to handle a showing in this case?
So, what do most people do? I read one article that suggests 4-6 weeks or as soon as you get notice to list it. However, they do not talk about showing it or when to put the sign out front. Is it even possible to have a new renter ready to move in day 1?
Who wants a place they cannot see first? The tenants are still in there, so I really don't want to bother them.
In this case from what I have seen, they keep the place in nice shape, so I do not expect to have to do much before it is ready to go. I do not have much to use in the way of pictures because I have not owned it very long and it has not been empty to take any. I have an outside pic and an occupied living room pic and the other pics are of other units also occupied. I usually have a place empty and then just show it. I have not needed to use any online listings before really. Worst case scenario, one-two week run in the local paper usually did the trick.
Suggestions or advice?
I never relist a property until I’ve seen the aftermath of a tenant move out. I don’t want to even be bothered with calls if I am busy fixing and cleaning the unit. Just sets me back and adds to my daily stress. Once I can foresee a week or two out of that phase, I can list it and accept calls and let potential renters come look at it even if I still need to do little things like paint or whatever minor finishing touches.
This is usually the way I do it too, but looking around just a little on the net, it seems some others do it ahead of this. I am wondering how and if this works? I usually don't want anyone to see it before it is ready because I am worried some people won't see past the cleaning that still needs to be done.
One thing they mention is that by doing it ahead of time you might find better renters that are planning better. As in, not getting the people that have to move in right away for some reason (eviction, desperate, etc.)
I am just not sure how they are getting a signed lease before even showing it, or what they do. I figured this would be the place to ask :)
That actually makes perfect sense. To get prospective tenants that aren’t in a hurry. Maybe someone who does advertise ahead can give us both insight.