I found an older discussion on this subject from 2019, but as that was pre-pandemic and the London rental market has changed considerably since then, I’d be interested in hearing about landlords’ more recent experiences.
My current tenant is leaving in October, so I advertised my London property around 7–8 weeks before it becomes available, thinking that starting early would give me plenty of time to find a suitable tenant.
The advert is receiving a good number of views — considerably more than the average shown in my Listing Performance Report — but very few enquiries.
OpenRent’s Performance Report subsequently advised that I am “advertising this property quite early” and that most OpenRent tenants are looking to move within the next four weeks.
In the 2019 discussion, OpenRent staff similarly said that most users were looking for an immediate move within four weeks and that they would expect enquiries to increase nearer the availability date.
For landlords who have advertised London properties 6–8 weeks ahead more recently, did you find that enquiries picked up significantly once you got within four weeks of the move-in date?
I’m particularly interested in whether an advert that had already been live for several weeks still attracted good enquiries once the availability date became closer, despite no longer being a new listing.
Sounds like a nightmare! Hope you find the right tenant. Turn on your screening, and also leave an automatic response that includes what meets your criteria, if you haven’t already.
In London (where I rent out) you are advertising WAY too early. People are frantically looking for places, they may look at 10 places and make a decision same week because they are worried they will lose it otherwise. I wait until it is empty, advertise it, and in the 2-3 weeks it takes to fill it do the various jobs that need doing and do all the viewings. I normally get around 80-100 enquiries in 10 days, you then have to grab the 1-3 qualified ones out of that and push hard to get them in ASAP as otherwise they will jump at whatever else is available.
Thanks Graham - That’s very helpful. It’s been recently decorated, so it doesn’t really need doing up. Do you reckon I should pause the ad or keep it running?
I tend to agree with @Graham - if you find a good tenant they arent going to wait around 2 months.
Depends on your appetite for risk too. If you sign a new tenancy before current tenants have left you risk a problem if current ones dont actually move out on time. You might gain a month or two extra rent instead of having a void.
“According to the English Housing Survey data from GOV.UK, the average length of residence for private renters is 4.7 years.”
so does a month or two void really matter? More if you are renting to students whom you might expect to change every year than others i guess
I take on your point about leaving a few weeks in between the new and old tenant. I was a little worried that it’s becoming vacant two months before Christmas, and thought it would present a problem. The current tenant is my first tenant, so I hadn’t appreciated the risk of a late move out. I think extending the moving date is wise.
Thanks both - really appreciate you weighing in on this.
You are right people.often want to be settled by xmas and few people want to be out doing viewings in windy rainy dark in the evenings in oct/ Nov/December- applies to sales of property too.
You can try mitigating risks of voids by starting doing viewings in last month/2 weeks before a tenant due to move out - takes a bit of time to do viewings esp if these have to be arranged around a current tenant’s availability (many tenants want to be present when strangers entering their place) as well as time for finding out about prospective new tenants, referencing and creating/signing the tenancy agreement. Then actually agree next tenant move in date and when they will pay initial rent (before) and sign contracts quickly after old tenants have moved out.
Ps the way searches work, older ads often drop down whether OR or rightmove or google etc. So maybe create a new duplicate ad (and delete old one) a week or two before current tenants move out, to re-spark interest.. may also then prompt people who didnt apply before as previously too far ahead, to apply
