My husband and I are moving across the country and are planning to rent out our home. It looks like we won't be moving until Dec of this year. Should we consider putting our home on the rental market this summer or will we be ok waiting until December? We plan on hiring a property manager to advertise and manage the property.
One of the most difficult decisions when considering placing your home on the market for rent is, When?
As you are moving in December, one of the slowest months, timing will be very important. I do not necessarily think placing your home on the market in the summer will be to your benefit however. First consider that most people interested in renting are going to need a property in the near future (30-60 days). Placing your home on the market prior to that would only cause you to sit there allowing prospects to wonder "what is wrong with the house" or worse " they have been advertising for some time, maybe the rent is too high".
Because you have to adjust your timing somewhat, I think the best thing to do in your situation would be to meet with your prospective property manager(s) about ninety days prior to your move out. This will not only give you the time to prepare for the move but also to take care of items that will need to be addressed prior to placing a tenant. Preparing a house to rent is somewhat different than preparing one for sale. Knowing your options ahead of time will not only save you money but needless time worrying about surprises down the road. We offer a very unique program designed to address those concerns up front.

Posted By: Don Pegram on Thursday, April 22, 2010