How soon can I list a house for rent?

Question

I went under contract for my first investment property yesterday. Closing date is 4 weeks away. It's a turnkey, single-family house, built in 2005 and doesn't need any improvements or fixes that I know of (pending home inspection of course). I'd like to have a tenant move in as early as possible. Obviously tenants can't move in until after closing, nor would I sign a lease until after closing. But how soon can I list it as available for rent and start screening lease applications? Do I need to wait until after closing to list it? If the contract falls through for some reason, and I have already listed it, what are the negative repercussions?

Dick Rosen · Answer

I would list it as *Coming Soon* but no showings and do not accept any applications or funds until after closing.

Jingru Sui · Answer

@Dave Smith I would wait after closing to avoid legal issue. Some seller might not care but some might if they still live in the house.

Bridgette Delva · Answer

@Dave Smith personally I think 4 weeks is too soon to post a "coming soon" rental.  What would be your goal for posting this soon?  You wouldn't have a secured lease until someone is actually able to do a walk through; if a tenant is truly needing to move in 4 weeks from now, they'll need to find a place that they can secure.

I suppose it also depends on your market - in Atlanta, move-in ready rentals at the right price move fast.  Our last vacancy was filled in 3 days and we had 2 back-ups so if we had put it on the market 4 weeks before it was ready, it would really have served no purpose.

The other thing comes to mind is are you even technically allowed to list it since you don't own it?

Carleton C. · Answer

@Dave Smith i would personally wait until after closing, but I guess it doesn’t hurt to go ahead and post the property to see how much interest you get as long as you aren’t collecting any personal information from potential tenants. What are you going to do if someone wants to view the place during the closing period?

Deniz Eker · Answer

Not answer to your question but where is this Turnkey property?

How soon can I list a house for rent?

Most Popular Reply