Property owners want to get their homes rented as quickly as possible so they can begin to earn rental income. There are a number of factors that will affect the amount of time a home remains on the market.
Property Condition
If a home is in poor condition, it will be a deterrent to a timely rental. The home has to be clean and in good shape if you want it to rent quickly. When maintenance items have not been taken care of and the curb appeal is lacking, the home will sit on the market without a renter. You should also consider that if a tenant is willing to accept a home in substandard conditions, that tenant is probably not going to work very hard to maintain the property.
Location
Location is always a major factor in real estate marketing. When your property is close to good schools, provides a reasonable commute to work and easy freeway accessibility, it’s going to be more desirable to renters. This doesn’t mean that more remote homes will be difficult to rent, it’s simply something that the owner needs to consider when approaching the rental market.
Pricing
A competitive market rent is essential in getting your home rented quickly. The expertise of a Seattle property management company will help you determine what kind of price will attract the best renters. It’s important to know the market in specific areas so you can list your property at a marketable price.
Pets
Pet owners make up a large percentage of the rental pool, so if you aren’t allowing pets, your property might be on the market for a bit longer than a property that does accept pets. You’ll still find a good renter if you have a “no pet” policy, but it will take you a little more time.
Screening
Always allow a little extra time for tenant screening. Comprehensive screening might delay the speed with which you are able to process your applications, but it will give you an excellent end result, which is a highly qualified tenant. Work with a property management company to establish criteria and weed out unqualified tenants. Renting out your property fast to an unqualified tenant will only put you at risk for having to evict a few months into the lease.
If you need any help getting your property rented quickly, contact us at Brink Property Management, and we’d be happy to give you additional tips.
