When is the best time to commence marketing a property that’s becoming available to rent? People look for rentals in all different places, so it’s important that you advertise your property in a variety of locations as well. Most tenants looking for a property to rent will have their favourite websites (such as rent.com.au or realestate.com.au, even Gumtree) set up so that they are alerted when a new property that fits into their criteria of the property they are looking for hits the site. They want action now and want to view that property. If your tenant gives you a few month’s notice, you probably don’t want to advertise it right away because most prospective tenants will not want to wait that long.
With a property that is going to be re-let, enquiries may start coming in before you have the chance to make arrangements with the outgoing tenant. Not every tenant is willing to have strange people wandering through their home as they are preparing to pack up and leave and in some States, there is a legislative restriction as to when the property can be shown. In Victoria, this is the last 2 weeks of the tenancy.
When it’s a new property in a new subdivision and the handover has not taken place, prospective tenants will not wait. They will view and probably rent those properties where access is immediately available.
When people want something these days they usually want it now, so advertising your place close to the time it will be available will work out better for everyone. The departing tenant can pack in peace and your future tenant will be able to move in straight away.
When do you usually advertise your vacancy? Have you been successful?