Rentals in 75056>Question Details

Cloakofstars9, Renter in The Colony, TX

How soon is too soon to look for a rental house?

Asked by Cloakofstars9, The Colony, TX Wed Jul 11, 2012

Our lease is up at the end of November but we don't want to wait until last minute to find a house to rent. How soon is too soon to look for a rental house? Is it possible to put a hold on a rental house? Thanks!

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30 days out (start looking on Oct 1st) is the best due to how fast the market moves. The Colony has a very low inventory and the homes will lease extremely quickly so be ready to act right away when you see a home that you like. I grew up in The Colony and would be more than happy to assist you. As always, my service is always free for tenants and buyers.
search homes for lease at http://www.christopherohlig.com/search

Chris
1 vote Thank Flag Link Thu Jul 12, 2012
When looking for a rental home, the best time to start looking is 4 to 6 weeks out. Most landlords in this market are not going to "hold a house" without collecting rent. We have had multiple applications on almost every property we have leased this year. When representing tenants we like to set a realistic expectation. In most cases we can get a couple of weeks delay in starting a lease.

Of course if we represent the landlord the best interest is served by having a tenant in the day after the previous tenant moves out maximizing their cash flow. While it is possible to "hold a house" it is not likely to happen for more than a couple weeks.

Raymond Edler
Texas Broker
GRI, SFR, ePRO, TAHS
Keller Williams Realty
http://www.RaymondEdler.com
972-767-9470
Raymond.Edler@KW.com
0 votes Thank Flag Link Wed Nov 14, 2012
Rentals move fast if priced correctly and are in good condition. I would start at the beginning of October as Christopher mentioned. Maybe get your search parameters set up form your Realtor before this date so you can start seeing what is out there and how fast things are moving.

Best of luck to you,

_______________________________________
Don Groff
REALTOR® | Mortgage Broker
Keller Williams Realty | 360 Lending Group
o 512.669.5599 m 512.633.4157
listings@dongroff.com | http://www.AustinListed.com
0 votes Thank Flag Link Sun Jul 15, 2012
Here the rental market is so tight, you really can't look more than about 30 days out.

The best houses might rent in 7-10 days. I used to say landlords might hold it for a month, but often now there are other people who can move in faster, so its hard to get them to hold it, without paying rent.
0 votes Thank Flag Link Wed Jul 11, 2012
Bruce Lynn, Real Estate Pro in Coppell, TX
MVP'08
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I would not recommend looking before October 1st. Landlords are not going to want to "hold" a rental house without receiving rents for more than a couple of weeks. However, if you have the resources to make two lease payments, you can do so.

If you're staying in The Colony, you need to be ready to look and place an application that day. Properties lease within a couple of days of going on the market.

thanks and best of luck.
Bee
0 votes Thank Flag Link Wed Jul 11, 2012
~ I Specialize in Dallas Rentals & Apartment Locator . Leasing is an all time here in DFW area homes are on the market for 5 - 8 days at best. Recommend search approx. 30 - 40 days prior to move in date.

The Colony homes for rent The Colony Tx
http://www.lynn911.com/Web/AR287090/CustomContent/index/5041417

Contact my office today where I can show you many amazing homes work with your family specifications.

Lynn911 Dallas Realtor & Consultant, Credit Repair Advisor
Multimillion Dollar Sales Producer
972-699-9111
http://www.lynn911.com

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0 votes Thank Flag Link Wed Jul 11, 2012
Depends on the area. In San Antonio, most rental homes that are in good shape and fairly priced will rent the first day. Homes that may be slightly higher priced or not in as great shape still rent lightning fast as there are not enough rentals to support the demand.

That being said, 2 things to consider......

1) though possible on a case by case basis, holding a home for an extended period of time (like 7 days or longer) is rare. The reason for this and speaking as a landlord is that many applicants are positive the home is right for them and ask to remove it from the market to hold and then they never come back - from the management side, this is risky and causes lost revenue. Even if you put a hold deposit, it does not mitigate the lost marketing time and risk, so most landlords won't entertain long term holds.

2) when looking for a home, have your agent scrub them for availability dates. I have had relocating clients that needed to move immediately but a home on the market may not be available for 3 weeks. Most property managers will begin to market a property at the tail end of someone else's lease, so take this into consideration when setting a timeline.

I would recommend discussing with an agent by mid-October with the understanding that you may sign a lease with a few weeks overlap to ensure you don't have a few days of homelessness. Hope this helps.
0 votes Thank Flag Link Wed Jul 11, 2012
With a hot leasing market like we're currently in I'd say over 30 days is too soon. However, there are a few homes out there that have a delayed availability date. I admit that this puts tenants in an uncomfortable position of giving notice to your current landlord before locking down a new home to lease but that's just the way things are locally right now. Sometimes you can find a landlord willing to hold a property but from the landlord's point of view why would they when there's an over-supply of tenants out there that might be able to move in sooner?

Good luck.

Mike Gonzalez
SFR-Certified Realtor / Broker
Mosaic Realty
214-783-4240 | Mike@MosaicDFW.com
0 votes Thank Flag Link Wed Jul 11, 2012
Hi, as a rental property owner myself I can say that yes you can hold a home for future move-in with a non-refundable deposit. a month or two hold is reasonable but anything longer puts the owner at risk. If your credit is good then waiting 30-45 days before move-in is fine. Under normal circumstances that is reasonable-any longer length of time puts risk on the owner. Their goal is minimum vacancy with the right tenant. Agreeing to sign a multiple yaer lease will also help. Good luck.
0 votes Thank Flag Link Wed Jul 11, 2012
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