How many weeks before end of lease do you advertise rental?

Question

My property's lease is coming up for renewal at the end of June and I wanted to get a sense of how many weeks before the end of lease do you start to advertise the property? What is a reasonable amount of time to expect it takes to lease a property priced fairly during the summer?

Also, I would appreciate any advice for how to show a house that the tenant is not keeping in good share (mainly pretty filthy bathroom conditions?)

Also, I would appreciate any advice for how to show a house that the tenant is not keeping in good share (mainly pretty filthy bathroom conditions?)

Kyle J. · Answer

Depends on how long it typically takes to rent a house in your market.  I'm in a strong rental market and it never takes me longer than a few days to a week, up to maybe a week and a half at the very longest to re-rent a property.  So I actually don't start marketing a property before the lease expires.  And I don't start showing it until the current tenant has fully moved out, and I've had a chance to make any necessary repairs and have the place professionally cleaned for the next tenant.  (Maybe that has something to do with why they rent so quick?)

In any event, I personally would not show a house that the current tenant is still occupying and has kept in a "filthy" condition.  You'll simply end up turning away too many prospective tenants.  They don't know how well you're going to clean it, and all they will be able to see is the filth.  In that scenario, you're better off waiting until the current tenant is out and you've had a chance to properly clean the property before you show it.

Just my two cents.

Ned J. · Answer

As long as I know all I'm doing is cleaning the place, and my previous pictures are still a good representation of what the property will look like (I'm not painting a different color, doing new flooring, new landscape etc), then I start my ad a week or so before the tenant moves out. If all I'm doing is cleaning and mild touch ups/repairs, I can do that in a matter of days..... then my open house is within a week of move out.

In a real hot market and a well kept property, I know some show it before the tenant moves out.... I just don't feel comfortable with that..... I want the place to be vacant when shown and in its best condition possible

Right now I'm doing one where I've repainted the whole place and done new flooring....... cant put my ad up until its far enough along that I can take nice pictures....but it wont be 100% ready before I post my ad and it will still need some small stuff done after the open house. Its a balance between having it look nice and be appealing but not have a long vacancy period

Chris Youssi · Answer

My 100th post and 1 of my favorite topics about Landlord management! I agree 100% with Craig Curelop and Dick Rosen. My take is as follows:

1.) We started calling tenants on May 15th asking them if they plan on renewing ( with new increases of course ) or moving out. We do this the 15th of every month.

2.) Once we have confirmation they are moving out we immediately begin showing the property. This clause is written in our lease in BOLD CAPS!

3.) We have 60 +/- units we own at any given time . Our vacancy rate since 1-1-2016 thru YTD has averaged 1.09% .

Always remember it is a business first an investment second and you will do fine!

Dick Rosen · Answer

We start marketing as soon as we know they are moving out, that's typically 30-60 days prior to expiration. We do not offer any showings unless we know for certain that the home is in presentable condition and the current tenants are going to cooperate.

Craig Curelop · Answer

@Aaron Mandor - Why wait? Do it right now and just let the prospective tenants know that their move in date is July 1 or whatever it is.

One thing I do is that I will throw up a listing 6 weeks before the current lease expires at a slightly above market price. Each subsequent week, I will lower it until I get a tenant that I approve of. I think this is a good way to get the most possible rent for your property.

Rich S. · Answer

I've heard of landlords giving tenants a bonus if they have the place show ready and move out with enough time to move in a new tenant with no lag.  I think your market is the biggest factor in this.  I'd have stock pictures of the place while vacant in rent ready condition as that will do a lot to paint a picture for future tenants.  If they can see those and see the outside/area it is in, I think that helps make people feel comfortable enough to get a good idea if it will work or not.  It will get you to the stage that folks may apply and can be cleared pending they agree to rent the place.

Nathan Gesner · Answer

My lease agreement states we are authorized to start advertising and showing the unit 30 days prior to lease termination. If the market's hot, I may wait until the last two weeks.

If the tenant is a slob or refuses to let me show the unit, I let it go until the tenant is out. Then I charge the tenant for the number of days it takes to find a tenant, up to the 30 days agreed on in my written lease.

Patrick M. · Answer

My leases have a clause for 60 day notice of non renewal (I am in N.J.) I send out my new leases with at least an 80 day buffer. If they are not renewing it lists at least 60 days out.

Thomas S. · Answer

I prefer to advertise 60 days ahead of a vacancy. I do not accept applications from indivulaes needing to move in less than a month.

As for the condition of the unit do an inspection and inform th etenant what needs to be cleaned. Tell them the place needs to be spotless. If they do not do the cleaning inform them you will be hiring a maid service to clean and you will be deducting the cost from their deposit.

How many weeks before end of lease do you advertise rental?

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