List rental now or wait? (by Salvador [TX]) Feb 14, 2019 6:37 PM|
List rental now or wait? (by Sal [TX]) Feb 14, 2019 6:39 PM
List rental now or wait? (by Jim in O C [CA]) Feb 14, 2019 6:56 PM
List rental now or wait? (by WMH [NC]) Feb 14, 2019 7:11 PM
List rental now or wait? (by Vee [OH]) Feb 14, 2019 7:16 PM
List rental now or wait? (by Sal [TX]) Feb 14, 2019 7:29 PM
List rental now or wait? (by Deanna [TX]) Feb 14, 2019 7:34 PM
List rental now or wait? (by Dave [MO]) Feb 14, 2019 7:38 PM
List rental now or wait? (by Moshe [CA]) Feb 14, 2019 7:58 PM
List rental now or wait? (by Stephen [ON]) Feb 14, 2019 8:05 PM
List rental now or wait? (by JB [OR]) Feb 14, 2019 8:55 PM
List rental now or wait? (by small potatoes [NY]) Feb 14, 2019 9:42 PM
List rental now or wait? (by nhsailmaker [NH]) Feb 15, 2019 4:21 AM
List rental now or wait? (by NE [PA]) Feb 15, 2019 5:01 AM
List rental now or wait? (by Larry [TX]) Feb 15, 2019 5:54 AM
List rental now or wait? (by Robert J [CA]) Feb 15, 2019 7:38 AM
List rental now or wait? (by plenty [MO]) Feb 15, 2019 8:59 AM
List rental now or wait? (by Ponari [TX]) Feb 16, 2019 3:06 PM
List rental now or wait? (by Salvador [TX]) Posted on: Feb 14, 2019 6:37 PM
It looks like my current tenants are going to likely move out. We are in mid-February and their lease expires on April 28th.
I understand that Dec-Feb are slow months for rentals and prices usually fall due to low demand. And then April-Jun are the best months to list a rental house where prices go up.
I've got 2.5 months until the lease expires. I'd love to get a new tenant in the week after the old ones move out.
If I list it now (mid February), I worry that it will sit on the market longer. And then when people look at the listing they'll see it has been up for a long time and be turned off. So I was contemplating waiting a month until the market was "hotter" (mid-March for example).
So what do you think? --104.188.xxx.xxx
List rental now or wait? (by Sal [TX]) Posted on: Feb 14, 2019 6:39 PM
More info... this is a 1987 sq ft single family home in a nice family neighborhood in Austin, TX. --104.188.xxx.xxx
List rental now or wait? (by Jim in O C [CA]) Posted on: Feb 14, 2019 6:56 PM
List it 30 days before they are going to move.
List rental now or wait? (by WMH [NC]) Posted on: Feb 14, 2019 7:11 PM
I start about 60 days out, 45 sometimes. --50.82.xxx.xx
List rental now or wait? (by Vee [OH]) Posted on: Feb 14, 2019 7:16 PM
Listing is easy, showing is another story altogether. Some tenants will deny access, others will cleanup if you give them 50 bux when it rents before the lease expires otherwise they are on the hook for the remainder, but in TX it is not garnished from wages so you have to be good at negotiating.
List rental now or wait? (by Sal [TX]) Posted on: Feb 14, 2019 7:29 PM
So you don't think waiting until a "hotter" month would help? --104.188.xxx.xxx
List rental now or wait? (by Deanna [TX]) Posted on: Feb 14, 2019 7:34 PM
Do you have a video from the last time it was vacant? I like to point people towards YouTube to get an idea of the space without bothering the current occupants.
When was the last time you were inside the house yourself? Do they take good care of it? Are they the sorts of tenants who can move out in the morning and allow new tenants to move in six hours later? Or will the turnover effort be more significant?
Are there animals involved? Even indoor-only animals have brought in fleas-- and I've had to take properties off the market for a month or two while I got it taken care of.
Anything in Austin in May or June will be snapped up in no time. I wouldn't be too worried. It also has a fluid enough population that I wouldn't be anxious about pinning down the type of person who plans two, three, four months in advance. You may well end up with someone who wants to move in in August and will be happy to pay you June and July in exchange for pinning down the place, even if they're not living there.
You've got a great house in a great market. If there's no animals and solid current tenants and you've been inside in the last month or two, I'd be optimistic about starting the advertising after spring break. But if any of those are likely to be variables, I'd be more cautious, and if I ended up losing any time, I'd only expect to lose a week or two. But it would be a good trade-off for prudence-- you don't want to risk your reputation by offering a product that isn't ready for consumption, but you didn't know it when you made commitments. --96.46.xxx.xx
List rental now or wait? (by Dave [MO]) Posted on: Feb 14, 2019 7:38 PM
I would list now, fewer houses on the market means less for buyers to choose from, make yours pop. Wait till the market is hot in spring there are more houses for buyers to choose from. Local, maybe 800 listings now but when spring comes goes to 1200 listings. --173.216.xxx.xxx
List rental now or wait? (by Moshe [CA]) Posted on: Feb 14, 2019 7:58 PM
I find that 45 days before a vacancy is good for starting to look for a new tenant.
I find that the 15 days before the 30 days period starts brings renters who have existing leases and want to move. Around here, we have apartment shortage, so that many prospective tenants start looking early, plus they can give 30 days notice to present landlord and not have to pay double rent.
List rental now or wait? (by Stephen [ON]) Posted on: Feb 14, 2019 8:05 PM
Here in Ontario by law tenants must give 60 days notice starting from the beginning of the next whole rental period. So if they wanted to give notice today the 14th February their notice would run 1 March through the end of April for a 1 May departure. It is one of the few things in the Residential Tenancies Act that favours landlords.
Because we have adequate notice we can advertise and show while tenants are in place. It helps to have carefully selected tenants who keep the units in good condition and who are cooperative. With a low vacancy rate (recent numbers were 1.6%) tenants who want to move are looking for a place well ahead of their anticipated moving date. I usually fill a vacancy within 3-4 weeks of showings, and that is after rejecting all undesirable or weak applicants and accepting only rock solid tenants with excellent credit scores, employment histories, landlord references, no accompanying menagerie of undesirable pets etc.
If you have a cooperative tenant who keeps the rental unit in good condition I would advertise immediately and start looking for a tenant. The worst that can happen is that you answer a bunch of prospective tenants and do some showings that might not turn out. But you might turn up a good tenant. My experience is that the best tenants are often looking for a unit well in advance of the date that they need to move. People move at all times of the year. Don't be put off by the fact that it is February. In two weeks it will be March. But people are already looking now and your unit could be one of the ones they look at - if you advertise it and get out there. --70.27.xxx.xx
List rental now or wait? (by JB [OR]) Posted on: Feb 14, 2019 8:55 PM
I would not advertise this until I was within 30 to 45 days of it being available. Too long and those people will disappear before the unit comes open...big waste of time and effort. --24.20.xxx.xxx
List rental now or wait? (by small potatoes [NY]) Posted on: Feb 14, 2019 9:42 PM
C rental pool does not look longer than 30 days out by me, more like 15 days or ASAP. I also find the longer the listing is on zillow the worse it looks, except that you can put the available date way out to compensate. Prolly field a lot of inquiries who won't read the ad closely and waste your time.
You didn't say but, no point listing if tenants are uncooperative w/ showing. My B rental pool looks in the 60 to 45 day window. They will come to town in advance of that new job and see a bunch of apts. --24.194.xx.xx
List rental now or wait? (by nhsailmaker [NH]) Posted on: Feb 15, 2019 4:21 AM
IF neither party to the lease has given proper notice then you have nothing to market --73.182.xxx.xxx
List rental now or wait? (by NE [PA]) Posted on: Feb 15, 2019 5:01 AM
Anymore I don't list anything until the people are out and I've been in the unit. I've done it enough times to know that it's just a waste of time, at least in my market. --50.107.xxx.xx
List rental now or wait? (by Larry [TX]) Posted on: Feb 15, 2019 5:54 AM
Wait till the house is empty and cleaned up. You shouldn’t have any problems. I have property on the outskirts of Austin and have had no problems renting it during Christmas holidays. There are always good people looking in the Austin area. --73.166.xxx.xxx
List rental now or wait? (by Robert J [CA]) Posted on: Feb 15, 2019 7:38 AM
You are spinning your wheels for nothing! I never believe a tenants estimation on their move-out date. Most of the time they go beyond their estimate and throw off my scheduled repairs, upgrades and new tenant move-in.
Instead of killing myself and being on pins and needles, I simply let them move out whenever -- so long as they are current on their rent. NEVER, I mean never allow them to live off of a deposit.....
Then when the x-tenant is out and you can determine what it's going to take to fix up the place.
For example a tenant just moved out of a small 2 bedroom rental of mine. If I slap on some paint, put in carpeting and get it rented by March 1st, I will get $1,600 a month. BUT if I install laminate flooring, custom paint job and new appliances, I can rent out this home for $1850 a month.
At $250 a month difference, that's an extra $3,000 a year, I can recover my extra costs in less than 2 years, get a good write-off and have a better class of tenant. Most of my single family tenants say from 4 to 7 years. This will be a win fixing the place up and loosing a couple of weeks rent. --47.156.xx.xx
List rental now or wait? (by plenty [MO]) Posted on: Feb 15, 2019 8:59 AM
List rental now or wait? (by Ponari [TX]) Posted on: Feb 16, 2019 3:06 PM
We did a rehab last year in June and had it ready to go by mid July. Totally updated - hardwood floors, granite, stainless steel appliances, new sinks, new doors and were slightly above market by $50 - it sat on the market until December!!!
I've rented in every month of the year. It will rent when someone sees it and loves it. --47.188.xx.xx