What answer do you get when you ask your property manager / real estate agent ” how long will it take to rent my property”? Not an easy question to answer. In most cases it should take no longer than 60 days. There are 3 factors to consider:
- Location of the property – this is not something you can change
- Condition of the property
- Rental Price
At Another Option Realty and Property Management we discuss all three. If a property does not have any interest in the 1st 7 -10 days, we will need to either enhance the property or adjust price. Remember the goal is to rent it out in 60 days. If you hold out for an extra $50 per month your annual gain is $600 (50×12), the better choice is to rent it sooner because in most cases 1 months rent is more than $600.