When someone is thinking about hiring a property management company to care for their property, there is often a fo
cus on who the tenant will be and how soon they will be able to move into the property. We frequently hear clients or potential clients asking about a timeline – when they sign the contract, when can they expect to have someone moving in?
How long does it take to rent out a property?
The answer to when a tenant will move in is contingent on a few different things. There is no set timeline that applies to all properties, because each property is different. In the past, we have seen situations where a property is ready to rent in as little as two weeks.
What factors impact how soon a property can be rented out?
If the property needs repairs or updates prior to a tenant moving in, the timeline will need to be slightly extended, for example. If the updates are minor, like a fresh coat of paint, that will take much less time than other, larger repairs. It also depends on the location of the property, and the rental cost compared to similar properties nearby. If no repairs or updates are needed to be made to the property, getting a tenant in the unit can happen quickly.
Because of our robust leasing program, we have dedicated members of our team who focus on taking 3D scans of the property, and ensuring it is advertised it on many leasing sites. Marketing the property properly is essential to receiving applications, and ensuring not just that a tenant is able to occupy the unit quickly, but that they are the right fit for the property. We have an in-depth screening process to verify that an applicant meets all requirements prior to moving anyone in.
How soon you are planning on moving out can make a difference.
Another factor that impacts how quickly a tenant can be approved and placed is how far out you are from moving out of their home. If you aren’t looking to move out for several months, it is possible to begin some repairs or updated while you are still living in the home. If you are moving out soon, and there are relatively few updates to be made, it could be rented out very quickly.
We typically advise property owners that the most effective way to speed up the process is to sign on and get all paperwork out of the way as soon as they decide that they want to rent out their property. Read our article, Why You Should Hire a Property Manager Now, to learn more about the benefits of taking care of everything in advance! No fees are charged until a tenant is placed, so getting things taken care of a month or two (or more) in advance is in their best interest.
Whether you are looking to rent your property out tomorrow, in a few months, or you’re still thinking about your options, reaching out to start the conversation will only benefit you in the long-run! Reach out today by visiting us here, or calling us at (805) 267-1158.
