While this may seem like a logical thing to do, when and how the property is marketed is an important factor in reducing potential vacancy periods. With the majority of tenants now sourcing their next rental home online via the internet, this has become the mainstream of rental advertising to attract tenants.
When a property is first listed on one of the major rental websites, there is one chance and one chance only to get it right to reach a 'maximum' audience of tenants seeking properties. Tenants who are searching for a rental property often sign up for an automated property alert. When a property is listed for the first time and it matches their automated alert criteria, the details are emailed direct to their inbox. On most of the property sites, this generally happens only once.
The transition period for tenancy changeovers (when tenants seriously start looking) from one property to another is generally 2-3 weeks. Tenants do start looking earlier… but in choosing their next rental property they understand the process of having to give notice while minimising the possibility of paying double rent. If a property was placed on the Internet a month or two months prior, it would miss the window of tenants seeking a rental property at the time it was actually available for rent.
Our agency also understands that it is vitally important for quality photos and a well-worded description of the property to be updated prior to listing the property on the Internet, in order to capture a tenant's interest when alerting them of new properties on the market. 'Photos coming soon' does not lease a rental property. The focus of our agency is always to be up-to-date on the current market, embrace advertising technology and expose your investment property to as many tenants as possible in order to entirely negate or minimise any possible vacancy period.