Re-list if current tenant gave notice?

Question

Hello, 
Rookie rental guy here...

My current tenant gave notice. They are still in until the end of the month.  What are is the best practice for turning it over? I'm mainly curious about if I can  re-listing it and show it while the current tenant is still there or if I should wait until they are out and the place is cleaned up.

Thanks for your recommendations in advance.

Jon Holdman · Answer

I try to show it while the current tenant is still there.  This is covered in my lease.  I only show once a week, even if its vacant.  So, with the tenant it usually isn't a big deal.

Now, this works a lot better if they're reasonably neat.   I've had messy tenants, and that's pretty hopeless.

Account Closed · Answer

Scotty,

I would do a walk through and if there are items the need to be done that would affect getting their deposit or part of their deposit back, you could let them know if they help you with a renter by them showing the home you will give them their entire deposit back.

If you have a good relationship with the current tenant you may not have to make that offer, speak to them and see where you are at.

How long do you plan  on keeping the rental property? Do you have an exit strategy? If so how much profit do you want to make on the home?

As an investor I look at the big picture to decide my next course of action.

Marv Rousselow

Scotty J · Answer

Thanks for the responses.  My action plan is to contact the current tenants to check on timing/walkthrough/cleanliness then advertise ASAP.

Scotty J · Answer

Thanks Marv!

So it is acceptable/legal to list/show the property if the current tenant cooperates?

Need to keep it for at least another year (lease) and then re-evaluate.

Uwe K. · Answer

If you wait until they are out (plus your cleanup and fixing time), you may loose too much time. It may take a while until you find the right tenant (e.g. it just took me two months during winter to find someone).
Whenever possible I would get a head start and list as early as I can. You could ask the tenant to be clean, usually a hopeless case if they are not generally clean anyway ;) You can then bunch the showings together if you want to be courteous, and give proper notice to enter.
There might be things that potential tenants are put off by. But you may be able to explain, and many will understand.
My philosophy: You will loose any potential tenant that you don't show the place to. If they don't like the current tenant's mess and the broken window and the holes in the wall, you having nothing lost but a little time. But there might be the (small) chance it's your new perfect tenant.

Re-list if current tenant gave notice?

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