Why are rental properties advertised at the last minute?

nnb

So I've been in the rental market for 11 years but moving out of my current property is becoming a headache.

I have to give 2 months notice and, in the past, there would always be properties advertised for 4-8 weeks time. Now, all I can see is "available now" or - if I'm lucky - in the next 2-3 weeks.

I find it super disconcerting that I have to give loads of notice but wait until the final fortnight to HOPEFULLY find somewhere liveable.

My current agent (actually a good one) told me they would not even advertise my flat until 2-3 weeks before I move out. If the agent knows for 2 months it will be available, why are they only putting it on the market a few weeks before? Wouldn't you want to secure a tenant asap?

This is not so much criticism (although I am confused) but more just asking why this seems to make sense to them and get some advice from you lot who know about it. Really interested to know why this is a thing

Sidenote: this actually started before covid, around summer 2019 (4 weeks maybe) but now is the 2-3 week max but mostly 'available now'.

GDB2222

All I can do is tell you how it is from a landlord's POV.

I'm in London, and there are more flats chasing tenants, than tenants chasing flats. We advertised a flat several weeks ago. Two girls decided to take it, so we took it off the market. Then, a week before they were due to move in, they changed their minds. 

So, yes, currently we have a flat that is "available now". We've had plenty of interest, but it's currently coming up to a 3 weeks void. We're not desperate, and we are taking the opportunity to redo the bathroom completely.  

grumiofoundation

Will you be needing to live in the property for all of the 2 month notice period? 

If so have you discussed with your agent/landlord the possibility of them marketing it when you move out, rather than when your notice period expires? That way if they can find someone faster than 2 months you aren't liable for all the rent. 

Or is there a possibility of negotiating a partial rent payment e.g. you return property on Day X, you are liable for 2 months for rent contractually but you agree to pay say 1 months rent but landlord gets property back on that day. 


On a side note 2 months is not a normal notice period - so presuming this was in your contract? And you are now in a contractual periodic tenancy or you will be using a break clause?

nnb

GDB2222 said:

All I can do is tell you how it is from a landlord's POV.

I'm in London, and there are more flats chasing tenants, than tenants chasing flats. We advertised a flat several weeks ago. Two girls decided to take it, so we took it off the market. Then, a week before they were due to move in, they changed their minds. 

So, yes, currently we have a flat that is "available now". We've had plenty of interest, but it's currently coming up to a 3 weeks void. We're not desperate, and we are taking the opportunity to redo the bathroom completely.  

Thanks for your reply (and not getting angry at me asking!)

I understand taking things off the market when someone is interested but would there not be holding deposits to ensure they are serious? I've no idea if they get refunded as I've never dropped out of a request to move in! 

That aside, I struggle to believe that every single property available in my area (not London) has prospective tenants drop out last minute. I even check sites of various (decent) agents as well as rightmove etc every other day - and 3 weeks max if you're lucky really is a thing. My current agent actually has nothing at all except "now". I previously tried to move out and my new place fell through (bloke in my new place couldn't move), but my agent hadn't even advertised mine halfway into my notice.....

I've been plotting my move for a few months trying to gauge the market hence certain trends becoming quite noticeable

AdrianC

The landlord simply doesn't know until the previous tenant has moved out whether the place will need work...

...or even whether they WILL move out... (especially if it's the landlord who's issued an s21)

Advertising it well in advance is a great way to pee the new tenant right off because their move-in has to be delayed.

nnb

grumiofoundation said:

Will you be needing to live in the property for all of the 2 month notice period? 

If so have you discussed with your agent/landlord the possibility of them marketing it when you move out, rather than when your notice period expires? That way if they can find someone faster than 2 months you aren't liable for all the rent. 

Or is there a possibility of negotiating a partial rent payment e.g. you return property on Day X, you are liable for 2 months for rent contractually but you agree to pay say 1 months rent but landlord gets property back on that day. 


On a side note 2 months is not a normal notice period - so presuming this was in your contract? And you are now in a contractual periodic tenancy or you will be using a break clause?

I have been here a few years and my tenancy does not renew again for a few months but I am currently within break clause period so only have to give 2 months

Oh I would be happy to go sooner - but they full on rejected it and said I would be liable for rent as well as the LL fees - EVEN IF SOMEONE MOVED IN. Last time I tried to move (spring time) I even had two possible tenants lined up who had been here (just depended on the rent increase) and the agent said they would just have to look out for when it was advertised and refused any further discussion on it. Despite me basically doing their job and making it simple as hell.

My current plan is give notice of 2 months but move out 6-7 weeks later so I have 1 week to get it looking tip top (although it is already cleaner than when I moved in!)

GDB2222

AdrianC said:

The landlord simply doesn't know until the previous tenant has moved out whether the place will need work...

...or even whether they WILL move out... (especially if it's the landlord who's issued an s21)

Advertising it well in advance is a great way to pee the new tenant right off because their move-in has to be delayed.

It's, nevertheless, common to advertise properties before the current tenant has left. The LL can get a good idea of what work is needed, and the prospective tenants know perfectly well that they can only move in once the existing tenants deign to move out.

I'm guessing that the LL is planning to spruce the place up before advertising it, if the OP has been there 11 years.



"I understand taking things off the market when someone is interested but would there not be holding deposits to ensure they are serious? I've no idea if they get refunded as I've never dropped out of a request to move in! "

Yes, they get refunded. Take a look here:

https://blog.openrent.co.uk/difference-holding-deposits-security-deposits-agency-fees/

esubbs

I previously tried to move out and my new place fell through (bloke in my new place couldn't move), but my agent hadn't even advertised mine halfway into my notice.....

I think you may have answered your own question here. If they had have marketed it, had new tenants lined up and then you couldn't move out as your onward place fell through, it would have just wasted everyone's time and expense.

nnb

AdrianC said:

The landlord simply doesn't know until the previous tenant has moved out whether the place will need work...

...or even whether they WILL move out... (especially if it's the landlord who's issued an s21)

Advertising it well in advance is a great way to pee the new tenant right off because their move-in has to be delayed.

He or my agent are welcome to view and see that it is in better condition than when I moved in.

nnb

GDB2222 said:

AdrianC said:

The landlord simply doesn't know until the previous tenant has moved out whether the place will need work...

...or even whether they WILL move out... (especially if it's the landlord who's issued an s21)

Advertising it well in advance is a great way to pee the new tenant right off because their move-in has to be delayed.

It's, nevertheless, common to advertise properties before the current tenant has left. The LL can get a good idea of what work is needed, and the prospective tenants know perfectly well that they can only move in once the existing tenants deign to move out.

I'm guessing that the LL is planning to spruce the place up before advertising it, if the OP has been there 11 years.



"I understand taking things off the market when someone is interested but would there not be holding deposits to ensure they are serious? I've no idea if they get refunded as I've never dropped out of a request to move in! "

Yes, they get refunded. Take a look here:

https://blog.openrent.co.uk/difference-holding-deposits-security-deposits-agency-fees/

Sorry for confusion - I have been a renter for 11 years but only been in this place 3 years.

It is however a damn sight more liveable than when I moved in. Both from myself actually knowing how to clean unlike the heathen who lived here before me, and from my LL agreeing to replace items that finally broke 10 years after he bought them! I may have been an expensive tenant but it was all stuff he had to do at some point and I was unlucky to be the one they broke on! It honestly is good to go once I leave here.

Thank you for info re holding deposits too btw!

MaryNB

nnb said:

grumiofoundation said:

Will you be needing to live in the property for all of the 2 month notice period? 

If so have you discussed with your agent/landlord the possibility of them marketing it when you move out, rather than when your notice period expires? That way if they can find someone faster than 2 months you aren't liable for all the rent. 

Or is there a possibility of negotiating a partial rent payment e.g. you return property on Day X, you are liable for 2 months for rent contractually but you agree to pay say 1 months rent but landlord gets property back on that day. 


On a side note 2 months is not a normal notice period - so presuming this was in your contract? And you are now in a contractual periodic tenancy or you will be using a break clause?

I have been here a few years and my tenancy does not renew again for a few months but I am currently within break clause period so only have to give 2 months

Oh I would be happy to go sooner - but they full on rejected it and said I would be liable for rent as well as the LL fees - EVEN IF SOMEONE MOVED IN. Last time I tried to move (spring time) I even had two possible tenants lined up who had been here (just depended on the rent increase) and the agent said they would just have to look out for when it was advertised and refused any further discussion on it. Despite me basically doing their job and making it simple as hell.

My current plan is give notice of 2 months but move out 6-7 weeks later so I have 1 week to get it looking tip top (although it is already cleaner than when I moved in!)

Few things here.

1. You don't have to leave it cleaner than you found it, just as clean as you found it. No professional cleaning or any of that nonsense. 

2. You don't have to renew a tenancy, despite what LAs like to tell tenants.  At the end of the fixed term it automatically becomes rolling. 

3. You are not liable for rent after your tenancy ends and someone else moves in. They cannot charge two different people for the same accommodation. However, what they can do is tell you "if you want us to break the tenancy this is how much it will cost" and then charge you a sum that's equivalent to the remainder of the rent - no obligation to end the tenancy early so if they do it's on their terms.  I'm wrong! Tenant fees act says they cannot charge more than the costs incurred as a result of the early termination. They cannot claim for a loss they didn't make - i.e. the rent due for the rest of your tenancy after another tenant has moved in.