One of the most common questions landlords have is: How long will it take me to rent out my property? There are several factors that influence the amount of time your rental home will remain on the market. If your goal is to avoid vacancy costs and get your home rented out right away, follow the recommendations we have for you today.
Time of Year Impacts RentalsOne of the factors to consider is the time of year. The rental industry has busy seasons, and summer is usually when properties will rent quickly. In the winter, things slow down and it might take you a little longer to find a good tenant for your home. Think about this when you’re deciding on the terms of your lease. It’s a good idea to have your lease end in the spring or summer, so you can be sure you’ll spend less time looking for a new tenant.
Make Sure the Property is Rent-ReadyTo rent quickly, the property has to be rent-ready. Make sure all the necessary repairs have been made and the property is functioning the way it should. You want to have it professionally cleaned and landscaped so tenants will see it and be able to imagine themselves living there. It must be ready for tenants.
Consider Updates and ImprovementsA house that has modern updates will rent a lot faster than a house with old appliances and dated countertops. The modern tenant wants attractive fixtures and an updated home. Make a few simple and inexpensive changes to give your property a new, fresh look.
Pricing the Property CorrectlyThe price of your rental will have a huge impact on how long it’s on the market. If it’s priced too high, you won’t get anyone interested in it. However, if you price it competitively, you’ll have a good chance of attracting high quality tenants quickly. Make sure the rental amount matches what the market will bring for the amenities that the house possesses.
These are the things you’ll need to take into account when you’re estimating how long it will take you to rent out your property. If you have any questions, please contact us at Independence Capital Property Management.