Prospective landlords are always eager to know how long it will take to find them a good tenant that won’t trash their home and will pay their rent. There are a few things that need to be addressed and considered when putting your home on the market for rent. You have to look at market conditions and what’s happening in your community to judge how long it will take to rent out your property. However, there are three things under your control that can affect your days on the market.
Pay Attention to the Property Condition
To rent quickly, your home needs to be in excellent condition. Neutralize the paint colors on the walls, have the home professionally cleaned, and spruce up the exterior landscaping so it looks inviting and appealing. These things really matter in how quickly you are able to attract tenants. A great tenant will care about the property condition. That is why our licensed real estate agents will meet with you and take a walk through your property prior to listing it. They can give you their expert opinion on any updates that could be completed to improve the property’s condition.
Price the Home Competitively
You do need to price your property competitively. We always want you to get the most rent possible from the best qualified tenants, but you need to be realistic and pay attention to the market. You have a lot of competition for tenants. Not only are you competing with other individually owned homes, but there are also newer apartment complexes that have been recently built in the area. Be realistic and price competitively. Some landlords make the mistake of not pricing their rental appropriately and risk longer vacancy time. Don’t worry, our agents can speak to you regarding comparables in your area so that you can choose the best rental price for your property.
Make Your Home Accessible
It’s important that your home is accessible when a qualified tenant wants to look at it. Potential renters with excellent credit scores and good rental histories have a lot of options and choices when it comes to choosing a property. Make sure they can see your home when it’s convenient to them. This can be difficult, especially if you are still living in the home. However, make it a priority and you’ll be able to rent your home faster. If you can control pricing, condition and access to your property, you’re going to substantially decrease the days your house is on the market. Then partner with a great agent who can market your home and an excellent property manager. They will be able to find you a qualified tenant quickly and easily.
Contact us at Chesapeake Property Management if you have any questions regarding renting out your home.