[Willy702]

Does anything get rented end of November? My tenant gave me advance notice she wants to move out end of November. Seems like a nearly impossible time to get a renter, is there much or any market for renters around then or during the month of December. I'm kind of baffled by her choice, every other tenant moved between April-July.

[007 license to sell]

People are moving almost anytime of the year here due to the great weather we have in Vegas and the surrounding area's, the time of year only makes a difference if there is kids in school.

[Willy702]

Thanks, I'll sleep better. My agent told me it can be rough, but since we'll have plenty of marketing time he thinks we should have at least some traffic. Was crazy when I rented my other house in June, even if its only half that I'm sure someone will work out.

[delgadobb]

Originally Posted by Willy702

Does anything get rented end of November? My tenant gave me advance notice she wants to move out end of November. Seems like a nearly impossible time to get a renter, is there much or any market for renters around then or during the month of December. I'm kind of baffled by her choice, every other tenant moved between April-July.

My guess is it'll be a little more challenging, but you'll get it done. Thankfully, we have good weather here & that should mitigate things for you. If you do find someone to rent starting in Nov/Dec, a suggestion: either offer a shorter lease (to end by Sept/Oct timeframe) or perhaps until the following spring, selling it as a benefit since their rent will be frozen for a few more months.

Back in Chicago I NEVER end a lease November-February, but that has more to do with the fact that nobody wants to move in cold & snow. If I have an apartment that's vacant going into November, it's a good bet it's going to be vacant until March or April.

The other thing I'd suggest is listing your place for slightly below market value to make sure you get plenty of interest. Then screen as thoroughly as you can - my real estate attorney in Chicago pounded that into my head. In other words, get good tenants & you'll save yourself a lot of headache down the road - it's far more important than getting a few more bucks for the place. The only trouble tenants I've had were placed by an outside agency that's a little sloppy (& way too expensive). I haven't had any trouble tenants I've found myself & the thorough screening probably has a lot to do with that.

[Willy702]

Originally Posted by delgadobb

My guess is it'll be a little more challenging, but you'll get it done. Thankfully, we have good weather here & that should mitigate things for you. If you do find someone to rent starting in Nov/Dec, a suggestion: either offer a shorter lease (to end by Sept/Oct timeframe) or perhaps until the following spring, selling it as a benefit since their rent will be frozen for a few more months.

Back in Chicago I NEVER end a lease November-February, but that has more to do with the fact that nobody wants to move in cold & snow. If I have an apartment that's vacant going into November, it's a good bet it's going to be vacant until March or April.

The other thing I'd suggest is listing your place for slightly below market value to make sure you get plenty of interest. Then screen as thoroughly as you can - my real estate attorney in Chicago pounded that into my head. In other words, get good tenants & you'll save yourself a lot of headache down the road - it's far more important than getting a few more bucks for the place. The only trouble tenants I've had were placed by an outside agency that's a little sloppy (& way too expensive). I haven't had any trouble tenants I've found myself & the thorough screening probably has a lot to do with that.

I'm pretty much all over these things already. Only reason its coming vacant now is she has been there 2+ years so we're on month to month basis now. As for the pricing I'm always $25-50 under market value as it does bring a lot of traffic, as well as getting under an even number, ie. $1395 instead of $1400.

Good tenants are so hit and miss in Vegas though. Its easy to spot the real trouble, but credit ratings/reports are so hard to judge. Trying to call prior landlords is tough if they have only lived in apartments since all these places now want all kinds of documentation. If you try to call employers you get held up for fees in Vegas, almost every major employer uses a service which costs more than any reasonable application fee you might charge a prospective tenant. In sum the tenant background is just tough in Vegas. So far things have gone well, but I am well aware there are potential issues in the future.

[dynimagelv]

Originally Posted by Willy702

I'm pretty much all over these things already. Only reason its coming vacant now is she has been there 2+ years so we're on month to month basis now. As for the pricing I'm always $25-50 under market value as it does bring a lot of traffic, as well as getting under an even number, ie. $1395 instead of $1400.

Good tenants are so hit and miss in Vegas though. Its easy to spot the real trouble, but credit ratings/reports are so hard to judge. Trying to call prior landlords is tough if they have only lived in apartments since all these places now want all kinds of documentation. If you try to call employers you get held up for fees in Vegas, almost every major employer uses a service which costs more than any reasonable application fee you might charge a prospective tenant. In sum the tenant background is just tough in Vegas. So far things have gone well, but I am well aware there are potential issues in the future.

A friend gave me a hint once that she used for Qualifying Sect. 8 renters and it seems like it would be a good guide for any renter. IF they have children, ask to see their childs last report cards...chances are that a tenant will also have a GOOD child....