Well-maintained San Carlos rental homes don’t need to spend too much time on the market, and this is important to your bottom line. Limiting the amount of time your rental property is vacant will prove to be an important part of your investment strategy. An unoccupied property doesn’t earn any rent, so you want to make sure you get a great tenant in place as quickly as possible.
We’re often asked how long it will take to rent out a property in San Carlos, and it really depends on a number of factors.
Market Conditions Will Impact Rental Time
In the San Carlos rental market, we are enjoying low vacancy rates. This means that you can expect your property to rent within a few weeks of it being listed, generally speaking. It takes some time to advertise and market the home, but when you work with a professional San Carlos property management company, you can expect strategic marketing and a lot of advertising exposure.
The market is always changing. At some point, you may find it’s flooded with rental properties just like yours, and competition for tenants is strong. During these periods, owners may have to wait longer to rent out a property.
Pay Attention to Property Condition
Well-maintained homes will always rent faster than homes that are older, worn, and in need of repairs and updates. If you want to rent your home quickly, make sure it’s attractive to high quality tenants. The best renters will look for a home that’s clean and functional and an exterior that’s free of debris, weeds, and dirt.
Create curb appeal because those marketing photos and first impressions matter. When your home looks appealing, you’ll have an easier time attracting the attention of potential renters. Make sure everything in the property works the way it should. Consider investing in minor upgrades and updates. Fresh paint and new floors will help you rent your property faster, as will new light fixtures and energy-efficient appliances.
San Carlos Rental Property Pricing
A correct and competitive rental price will also ensure your property rents as quickly as possible.
Every landlord wants to earn as much as possible in monthly rent. However, if you overprice the house or the apartment, you’re going to lose good tenants. Today’s renters know what properties are worth, and they will not pay more than they have to. If your home is even a few dollars above market rent, tenants will look elsewhere for a place to live, leaving your home vacant.
It’s not worth losing an entire month’s rent on a longer vacancy just because you want to earn $2,500 a month instead of $2,350. In the long term, you’ll lose money. Take a close look at what similar properties in your neighborhood are renting for, and make sure you’re in the right range.
These are just a few of the things that impact the amount of time it will take to rent your home. If you’re struggling with a long vacancy period or you’re not sure how to market your property and find a great tenant, contact us at Five Star Property Management. We’d be happy to help.
