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Last letting day before Christmas?


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With apologies in advance for bringing the dreaded C word up so early especially as I'm new around here - way to get moderated!

 

I've just bought my first two investment properties (by chance in the same weekend, that was weird) - one is a project for the winter but the other is beautiful, all ready to let bar a replacement window, a new bathroom extractor fan and a PIV in the roof space.  Worst case scenario it might be three weeks max from taking ownership to getting it on the market.  The vendor's previous sale fell through and she was desperate to sell so as not to lose her property.  I pushed the solicitor hard and we were ready to complete this Friday. 

 

You're probably ahead of me here already but I've just been told it's now going to be another 3/4 weeks (read: at least 4) which best case scenario takes me to mid Nov, plus three weeks for the minor works which means I'll have a lovely property ready to go on the lettings market second week in Dec, just as people really get into the swing of silly season!

 

I've fed back that if we can't complete by end of Oct at the latest then I want to leave the sale til the NY but even if they do take any notice of me, tbh the thought of marketing a property in Jan doesn't exactly fill me with joy either.

 

I read a report in the Sunday Times which said today was  the last day to purchase a house if you wanted to be in by Christmas.  So what would you say is the last day for letting a house out if you wanted to get a tenant in situ before the madness starts? 

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Hi Sarah j, it is a bit trickier to let just before Christmas but not impossible by no means. The way things are someone somewhere is always in a pickle - you are in a pickle because you need to rent out the place. Someone else will be in a pickle looking for a place and will be thinking there is nothing available at this time of year. I've let out close to Christmas before.

 

Just don't panic and give to the first person just to get it rented. Could end up with a bad tenant - so still be picky. Worst case scenario keep it empty until you find the right person.

 

With regards to last date i don't know but make sure all your ducks are lined up. 

 

Start marketing it as soon as the key is in your hand - the required work can be done during and after viewing or even let out. 

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Thanks Dil, that's reassuring.  I am incredibly picky by nature! 

 

You're right about not panicking, this is why I am getting my panicking out the way now, working through all the different scenarios in my head.  I'm in an area where it's near impossible to rent anything so logicallly I know I should be able to get good tenants anytime.  It's just not ideal, also I was hoping to do block viewings to generate more interest.

 

Anyway my ducks will remain lined up, the ad is already written, so I just need to get in and take some pics as soon as I get the key.  Which will be soon, fingers crossed.

 

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Good work Sarah. I was going to say get the advert written and do every single little thing you can, have AST agreements printed, I usually hand out a single A4 sheet giving all details of the property/rent/deposit etc, it also includes a checklist of all documents i require - get all these printed. (People who provide the most paperwork make it to the top of my pile of potentials)

 

Also in your advert ask people to bring the required documents with them - those that do are organised and will hopefully be better payers.

 

Can still do block viewings, if its that hard to get a place to rent in your area people will make sure they attend the viewings. I would do all day Saturday and Sunday as soon as you get the keys and then just sit there for the 2 days.

 

It will rent.  

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