Finding a tenant who is likely to stay longer is not easy, as it depends upon the condition of your property, your current rent expectations, other rental options, and more. Based on our experience, it takes about 30 to 60 days to complete the renting process, depending on the specifics of your property. This may take even twice as long if you are renting out your home by yourself, as it takes time to screen tenants, conduct background checks, and manage showings.
This is just a rough estimate though. Here is a tentative breakdown of the factors that affect the rental timeline so you can calculate how long it will take to
rent out your Arlington home.
Location Of the Property
The location of the house plays a crucial role in the time it takes to rent your property. Desirable locations attract prospective tenants and help you rent the house quickly. On the other hand, if your property is located where there is no access to transportation, schools, or workplaces, it will affect the time taken to rent out your property.
Condition Of Your Home
Tenants prefer properties that are in a pristine condition, fitted with modern upgrades. To rent your Arlington home quickly, you need to consider tenants expectations and improve the quality of your property accordingly. Also, improve the curb appeal of your property to attract prospective tenants quicker.
The Rent You Charge
The amount of rent you charge is one of the primary factors that impact how fast your property gets rented. It is essential to think from your tenants’ perspective while pricing the property, to get it rented faster. Overcharging, as compared to your neighbors, will increase the vacancy duration, but undercharging is likely to get you unsatisfactory tenants.
Potential renters are always going to have a budget to start with; so, that can be your starting point as well. Landlords should first conduct research about the average rent in your local area, square footage of your rental unit, amenities you provide, current market trends, and property location and then decide the rent they want to charge, for minimizing rental vacancy.
This differs from neighborhood to neighborhood, so understand the local rental market and find the sweet spot that is profitable for you, yet affordable for your tenants. At the time of writing this blog, the average rent in Arlington is in the range of $2,200 to $2,500.
How You Market the Property
Whether or not you market your property and how you market it makes a significant difference in the speed at which you find tenants. If done right, marketing is a proven strategy to find prospective tenants and get your property rented quickly and successfully, as it increases the visibility of your property and helps you reach a larger pool of applicants.
Posting vacancies with clear images and features on online listing websites and promoting the property on social media platforms are some of the ways of connecting with the maximum number of potential tenants.
How Long Is Your Screening Process
These were some of the factors that might affect the renting process of your Arlington property. One way to reduce your rental vacancies is to hire a
trusted property management company. With their efficient renting processes and regular maintenance services, they can help you minimize the time taken to rent out your Arlington home.
Arlington Realty Property Management is a full-service property management company that provides rental services ranging from property listings, tenant screening process, rental inspections, rent collection to tenants' moving in.
For more details about how we can help you rent your home,
contact us at Arlington Realty Property Management.
