How early do you expect PM to start advertising?

[poppy]

Just wondering how soon before an IP becomes vacant do you expect the PM to start advertising eg if existing tenant has given notice to vacate for say June 15 would you expect an ad on around June 1.

Let's assume we are referring to average properties in an average market. ie There is not going to be dozens of tenants fighting to move in the instant the ad appears.

 

[battler]

If they haven't got anyone lined up, they should be advertising the moment they know it will be available.

 

[The Fence]

Always a bone of contention with PMs....I say advertise straight away.

They say after the tenant has vacated.....

WHY...?

Whats wrong with advertising and preparing the prospective tenant in advance....and why can't a prospect be shown thru if the existing is leaving....?

It's a waste of time and you miss out on weeks of rent income.....

Why we do it ourself now....

 

[wylie]

Always a bone of contention with PMs....I say advertise straight away.

They say after the tenant has vacated.....

WHY...?

Whats wrong with advertising and preparing the prospective tenant in advance....and why can't a prospect be shown thru if the existing is leaving....?

It's a waste of time and you miss out on weeks of rent income.....

Why we do it ourself now....

This is exactly how we do it too. But that doesn't help you because you have a PM. I would be pushing for advertising to start two weeks prior (or more) to the date the current tenants are moving.

If you are lucky, you will have one tenant move out one day, and the next tenant move in the same day (or the next).

 

[Xenia]

Two to three weeks before you expect it to be rented works well as it coincides with when tenants begin to look for new homes to rent. If it is advertised months in advance tenants will not wait until it is available as most want something within 2 to 3 weeks! If it is advertised too late it increases vacancies.

All the best Poppy XX

 

[whitehope06]

I don't have that much experience with PM (I've just started landlord journey about a month ago!) the only thing I can say about PM is, you always have to push them to do things your way and not theirs!
Bottom line is nobody cares about your assets more than you

 

[poppy]

Thanks guys for your comments,

I emailed the PM last night to let them know I was concerned the property wasn't advertised yet. This is despite me having been in touch with them several times over the last few weeks to discuss things and giving them clear instructions that I wanted the property to be re-leased. I guess my mistake was, even though I agreed to pay $XX for advertising, I didn't actually specifically tell them "please actually place the ad before the tenant vacates". I have had this problem also with a different PM agency in the area (who I sacked), they just flatly refused to advertise my property before it was 100% ready to move in. If I had not been checking the ads online, I wouldn't have known the current PM is not doing their job.

Anyway, the PM has now agreed to take photos on Friday and hopefully get the ad up that day. Tenant has given notice to leave on the 28th June. After I got off the phone with the PM, I thought... what Friday!! Maybe next Friday 2 days before they are due to move out? Or the one after that?

Even if they have the ad up tommorow, that is still too late to be able to organise any potential tenants to inspect for Saturday. Basically the PM had no plans to advertise or show tenants through the property until it was vacant and the PM was good and ready. I think the PM also had staff on leave so they put my IP aside. It's too late really to switch PMs though - I've already signed an agreement and I haven't been able to find another decent PM in the area anyway. Best I can do I think is after the IP is leased to ask for a discount on the letting and advertising fees given that they have probably cost me several weeks lost rent by advertising too late. The PM agreement made no mention of the fact that the PM wouldn't advertise the property until it was vacant

 

[wylie]

Why not put your own ad on Gumtree and rentfind.com.au. This is free and at least you might catch someone who you could then send to the PM. It would by annoying that you found them, but better that you find a tenant than the house sit empty.

Alternatively, harass the agent tomorrow (Friday morning) and get the listing on the net with photos to come later in the day.

If you get it on the net tomorrow, you will probably still catch some Saturday lookers.

 

[poppy]

Thanks Wylie, rentfind in particular looks good I will give it a go. Unfortunately the current tenant is one who will insist on exact written notice periods for access so it is unlikely that anyone seeing an ad tommorow would be able to inspect it on Saturday

 

[jingo]

Two to three weeks before you expect it to be rented works well as it coincides with when tenants begin to look for new homes to rent. If it is advertised months in advance tenants will not wait until it is available as most want something within 2 to 3 weeks! If it is advertised too late it increases vacancies.

All the best Poppy XX

Good advice Poppy,

I think if a property is advertised too early before it is available it can appear 'stale' when it does become available.

I'm not sure how early on prospective tenants start looking for a house they need to rent - I would say in most cases someone looking to rent just wants to take something that is readily available and probably not be interested in lining something up much more than a month in advance??

Regards Jason.

 

[wylie]

I agree regarding the timing. We find that any earlier than three weeks before the house is available is a waste. Most people have to give two weeks' notice, so two weeks is about perfect.

 

[Sheryn]

3 weeks before available to rent should be advertised on internet.

If you have trouble gaining access with current tenant organise for inspection on a week night at 7pm for the 3 week leading up to vacating.


Cheers
Sheryn

 

[Collector]

It all depends on a number of factors which include market conditions/vacancy rates, access to property and type of property.

For instance if the property is a unit (medium) in Parramatta and you have an arrangement with the tenant for access I would advertise it 10 days out from the vacate date.

If the property is large house in North Rocks, Carlingford or similar area I would start as soon as possible - regardless of access, as there will be less applicants looking for such a property.


For the unit in Parramatta if you were to put the property on re.com on Thursday with an advertised open house for Saturday you would expect to receive between 50 and 100 calls/emails before Saturday and have about 40 groups at the open, - if you were to start 3 weeks out and you have not established entry with the current tenant then the property will become stale very quickly.