Advertising for rent before settlement

Hi all,

Apologies if this has already been covered but eg:say settlement is in 2mnths for a ip and i want to rent it out after settlement date,do i have to ask vendor for permission to allow OFI's/advertise for rent before settlement?Tis atm owner occupied and will be vacant possession.

What is the go?I'd prefer this advertised during settlement due to xmas.

Cheers Spades.
 
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get your PM to get it ready for rental by advertising it to get interest into the place and say the unit/house/TH will be ready by "insert date"
 
Definitely ask the vendor for permission prior to listing for renting. Also would be beneficial if you could get permission to allow potential tenants and property manager access but this may be trickier.
 
I was private managing and had the Ad already to go. Once settlement occured the Ad was on Realestate.com.au and Gumtree within the hour. No need to ask Vendor unless you plan on bringing people through before settlement.

You will need to ask the Vendor if you wish to use their photos (ones from the Sale advertisement)

I could have posted the Ad beforehand but if settlement was delayed then i would have a bunch of annoyed people to call back.
 
Thanks everyone:)

Think i'll gauge interest via advertising and available after set date.Flexibility,ask vendor if they'd mind a few keen interested parties to have a look prior to inspection.

Btw;Would anyone word this condition into a contract?

Cheers Spades.
 
Thanks everyone:)

Think i'll gauge interest via advertising and available after set date.Flexibility,ask vendor if they'd mind a few keen interested parties to have a look prior to inspection.

Btw;Would anyone word this condition into a contract?

Cheers Spades.

You could ask them if they mind and if they said no then write it in the contract. If your well organised and privately managing then i wouldnt risk it.

Timeline:
Settlement : Friday 4pm
Advertisement Live : Friday 5pm.
Sat/ Sunday Home Open at 12pm
Monday : New Lease starts after reference checks in morning. == 2 days after settlement.
Tuesday: Tenants starts to move in (but lease started monday)
 
You must have quality tenants in mind if they can up stumps on their current digs without notice or only have a day or two before they're on the street.
 
lol snm^...and tano i won't be private managing nor goin by that timeline-2 days?

The intent is to start advertising asap once signed,use vendor photo's,available move-in date will be a day or 3 after settlement and to arrange reasonable access times for potential applicants and times to suit vendor during settlement.

I don't think this should be a problem with the deal to date.Minor inconvenience in the scheme of things.

Cheers Spades.
 
I would and I have put early access into the contract for purpose of open for rent.
Start advertising asap
2-3 weeks before settlement you would want 2 opens a week in order to sign up a quality tenant and have enough time for them to give notice.
leave move in date flexible to allow for a few days late settlement ( happens often).

In the contract just have something to the effect of 4 early access oportunities for 1 hr durations to be agreed apon with 48hrs notice ( or give dates and times then).

hope this helps.

cheers
 
Hiya HD_Ace,
Thanks...I was going to go verbal...So if i put in the contract?
Any suggestions?
I was thinking along the lines of ie:Vendor to allow the said property to be advertised for rent before settlement on the proviso vendor allows pictures from selling campaign and accommodates inspection times prior to 48hrs notice......Or something to that affect.
Thought's HD?Or something shorter?
Cheers Spades.
 
leave move in date flexible to allow for a few days late settlement ( happens often).
Just to add,yeah initially i was working on 3days after settlement but i may go a week after settlement.Prop doesn't need much doing despite maybe a clean up in the backyard,no biggie though.
 
You must have quality tenants in mind if they can up stumps on their current digs without notice or only have a day or two before they're on the street.

The ones we chose already had an expiring lease (2hrs from their work), and were willing to run 2 leases at same time to secure our property (30mins from their work)

THe lady came with 20 sheets of paper (photocopies Driving licence, passport, references, bills, pay slips) etc. Its been 6 months and not a hiccup.

Heres some trivia: 25 couples rocked up, we have 23 that filled out an Application to Rent Residential Premises. 24 saw the Ad on Gumtree, 1 on Realestate.com.au. We happen to choose the applicant that saw the Ad on realestate.com.au.

We would have gone the route of early access but we got the vibe that this was not possible. Also during the last week when we did our final settlement inspection the house was in chaos with moving boxes and rubbish everywhere. I think we did ourselves a favour by presenting a clean, empty house.
 
Tano,i don't have the stomach ats but admire people like you that can self manage and those that run boarding houses too etc.
Not my thing ats but may figure in later to cut costs after i've passed my L plates :p
Cheers Spades.

Ps.ats=at this stage.
 
Hi Spades
Take your time and dont rush. I probably got lucky :). Good luck with the home open and the sale... and have fun learning!

The PM's would be looking after your best interest.
 
Thanks Tano....Probably more on my P plates now after a few years.
Missed a few on the areas for an ip/upgraded ppor i've been targeting as per over analysing but in another sense it has helped.
The area i'm targeting has few rea's and the one i'm dealing with now has my bizz.
The others are shockers.
Will update.
Cheers Spades.
 
Hiya HD_Ace,
Thanks...I was going to go verbal...So if i put in the contract?
Any suggestions?
I was thinking along the lines of ie:Vendor to allow the said property to be advertised for rent before settlement on the proviso vendor allows pictures from selling campaign and accommodates inspection times prior to 48hrs notice......Or something to that affect.
Thought's HD?Or something shorter?
Cheers Spades.

you can go verbally if you like but theres always the chance they will muck you around. If its the owners still there rather than tenants then it should be alot easier.
Yeap something like that as long as its clear to both parties. Get your soli to write it in if you like.

cheers
 
Get your solicitor to contact the vendors solicitor.

I'd advertise 10 days before settlement, so the ad on REA.com is still fresh and available from 2/3 days after to allow for a small delay and condition report etc.

Request from the vendor for 3 inspections in those 10 days and if you can negotiate to allow private inspections providing 24 hours notice.
 
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