When should I advertise my buy-to-let property to tenants?
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Dan from Surrey
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Renting questions and answers
Question
As a buy-to-let purchaser of a property, at which point should you commence advertising the property to prospective tenants to ensure the property is at no point left vacant (whilst you at the same time have no rental income)?
Answer
We would strongly advise that you don’t advertise your buy to let property to rent until the transaction has been fully completed.
However, we would recommend that you have workmen on standby to enter the minute you get possession, and undertake any remedial work and then cleaners ready to have it spotless. You can speak to lettings agents and have an agent lined up ready to list the property once it is ready. Hopefully you will be able to get access to the new property for the agent to take photos and to prepare full details.
It is estimated that 25% of property transaction fail and yours could become victim to a problem in the chain which is totally unrelated to your transaction, but affects you nonetheless. The last thing you would then need is a tenant suing you following the signature of a tenancy on a property that you did not legally own at the time.
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BB on 18/01/2024