A: Because of our constant and powerful marketing efforts, our properties rent in about 60 days or less on average…and properties in great condition usually rent even faster. It usually will take about a week or so for your property to populate to all our marketing channels.
There are a number of factors that affect your properties ability to rent quickly:
- Time of Year – Most active time of year that people move is May through September. You certainly can successfully rent property in the other months of the year. Just because there are less “fish in the pond” doesn’t mean you won’t catch one. Properties rent year round.
- Property Features, Location, & Condition – There are a number of variables here but as an example, a property with more amenities (more than 1 bathroom, walk in closets, lots of storage, garage, etc) will rent faster than those without these amenities. Properties located in subdivisions or on less-busy roads will rent faster. Properties with level lots may rent faster than properties located on hilly terrain. MOST IMPORTANTLY, PROPERTIES IN GOOD CONDITION RENT MUCH FASTER THAN PROPERTIES IN AVERAGE OR POOR CONDITION.
- Lease Term & Rental Amount – Obviously pricing the property well compared to other similar properties is very important. In addition to price though, the other terms of the lease could attract, or discourage possible tenants such as:
- Length of lease – most tenants are ok with a year lease but some may be looking for a shorter term solution
- Pets – are pets allowed? if so, what kind and how big?
- Smoking – can tenants smoke?
- etc….
The more flexible you are as an Owner, the more you help expedite filling your vacancy!
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