How far ahead should L seek replacement tenants?

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  • How far ahead should L seek replacement tenants?

    hi

    I bought a place in June 2006 and got renters in almost straight away, as a 6 months tenancy with all the rent up front, which was nice.
    The tenancy ends in Jan 2007.

    What (and when) should i start looking for new tenants through a letting agency? And what is the correct method for informing the existing tenants that other potential tenants may be looking around the property with a view?

    Just one more question...

    When the tenants moved in the property had new carpets throughout. Obviously after 6 months these new carpets will not be so new. What should I do, automatically use the deposit to pay for professional carpet cleaners to clean the carpets? What would other landlords do?

    regards
    Nick

  • #2
    Firstly have your tenants given notice that they will definitely be vacating at the end of the initial 6 months?

    If so I would speak with your existing tenants and explain that you will obviously be re advertising the property and discuss when will be convenient times for someone to do viewings, I would try to keep the viewings in blocks of one or two a week as not to inconvenience the existing tenant too much. I would start advertising the property approximately 8 - 10 weeks before the tenants are due to vacate.

    With regard to the carpets tenants have the right to 'fair wear and tear' and therefore you cannot expect the carpets to be in the same condition as when you initially let the property. You will need to inspect the carpets but really could only justify using any of the deposit if they are either damaged or badly stained from misuse by the tenants.

    I hope this helps?

    Comment


    • #3
      Thanks for the speedy reply

      no they have not yet given notice, but the original contract was for 6 months, and as the tenants are contract builders from manchester (i am in southampton) I am just assuming it will be 6 months.

      I will market it through lettings agents mid Nov, thanks.

      Thanks also for the carpet advice

      regards

      Nick

      Comment


      • #4
        Don't assume anything though. If they've been good tenants, why not ask them? If they don't want to stay another 6 months, let the tenancy continue on a periodic basis. Basically the same rights of the tenancy exist, and they will need to give you a months notice when they want to leave, so it should still be enough time to get new tenants.

        Comment


        • #5
          If you have good communications with your tenants, then they will almost certainly tell you without prompting whether they wish to remain or not. What is your relationship like with these tenants?

          Comment


          • #6
            Thanks for the replies guys.

            Poppy, my relationship with the tenants is merely professional: I completed a thorough inventory on the day of moving in (July 20th 2006) and have had no further communication with them. This is ok with me , as I do not want to get friendly with any of my tenants in case this go sour. It is purely a business arrangement.

            regards

            Nick

            Comment


            • #7
              Surely it's best to contact the current tenants and ask if they would like to stay.

              You may find that they do and pay you another 6 months upfront, saving you the hassle/expense of finding new tenants.

              Tass

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              • #8
                How long in advance would landlord seek new tenant?

                Hello

                A little bit of advice please! My husband and I currently rent a second floor flat. Our 1 year AST ends on the 24th August 2009.

                When would be a good time to start viewing other properties? If we found the perfect place we would be happy to put a months rent down as a deposit, but how long would LL normally wait for a tennent to move in?

                We were thinking about 2 months? It is so frustrating because there are so many good properties around at the moment and by the time we are able to move they will all be gone!

                Any advice welcome!

                Comment


                • #9
                  I start marketing as soon as I know a tenant is leaving. That is normally between 1 and 2 months before they are due to move out. Having said that I only use the freebie marketing of gumtree, globrix et al until 1 month before the tenancy is due to end.

                  By the time I pay for advertising in the local paper etc, we are about a month away from move day. For the right tenant, I would hold a property for a month. That wouldn't be cost free, but say 50% rent for the month they can't actually move in. I will hold a property for a 2 weeks week on payment of a holding deposit which would be refunded from 1st month's rent.

                  Comment


                  • #10
                    Originally posted by moto View Post
                    We were thinking about 2 months? It is so frustrating because there are so many good properties around at the moment and by the time we are able to move they will all be gone!
                    Personally I wouldn't hold an empty property without any rent income for more than a month absolute max, and even that would be grudgingly! Would be different maybe if I knew I had a vacancy coming up in 2 months on an already-let property, but that rarely if ever happens as my tenants only need to give a months' notice of leaving.

                    In most areas it's pretty much a buyer's market for renters at the moment, so if I were you I wouldn't get overly panicked about not being able to find something suitable.

                    Comment


                    • #11
                      thank you both for your answers

                      Comment

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