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Updated over 5 years ago on . Most recent reply

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Stephen Brehm
1
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How can I get a tenant prior to closing?

Stephen Brehm
Posted

If I am under contract to purchase a rental property that has no tenant, are there any strategies I can use to market the listing for rent prior to close in order to secure a renter? Can I show the listing to a prospective renter and indicate the soonest move-in date based on my close date?

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76
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64
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Luan Oliveira
  • Rental Property Investor
  • Providence, RI
64
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76
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Luan Oliveira
  • Rental Property Investor
  • Providence, RI
Replied

Here's what I did - as soon as the offer was accepted, I listed the property on zillow to gauge interest. There was so much interest that I had to take it down.  Then, one week from the closing date, I listed it again, but raised the rent by 20%. Worst case I knew I would have many takers at the lower price. 

I ended up still having plenty of interest at the new price. I closed on Thursday afternoon and on Friday I already had people lined up to apply. 

I didn't list an exact address, but put the street the property was located on. I recommend taking this route, as it will make things much easier for you!

  • Luan Oliveira
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