Several factors will influence the length of time it takes to rent out your San Diego home. Typically, the speed with which you’re able to identify, approve, and place a tenant will depend on:
The current rental market in San Diego is short on inventory. There’s a high demand for attractive, well-maintained housing. You should be able to rent your property to qualified tenants in a matter of weeks.
When you’re estimating what your vacancy time is likely to be, think about these factors that impact how long it takes to rent out your property.
Low vacancy rates can currently be found in the San Diego rental market. This works in your favor and is an indicator that you likely won’t have a long, frustrating, and costly vacancy period.
There is, however, nuance to this. For example, in some neighborhoods, it may take longer to rent out a property that’s especially large or more expensive because of its size and amenities. If your property is more remote or far from conveniences, shops, and restaurants that most tenants are looking for, you’ll have a longer vacancy time than those homes that are more central.
The market, remember, is always changing. At some point, you may find that San Diego and the surrounding cities are suddenly flooded with rental properties just like yours, and competition for tenants will become strong. During these periods, you can expect a longer vacancy period, and different strategies will need to be employed to ensure you aren’t left with an unoccupied property for too long.
The rental value attached to your home must be both profitable and competitive. You’re trying to earn as much as possible in rent every month. Underpricing your home will only leave you trying to catch up to market rents for years to come. When you overprice your home, it will take you longer to rent that property out because tenants will select other homes that provide more value.
Taking the time to investigate what similar properties are renting for in your specific neighborhood will allow you to price your property more accurately and get it rented more quickly.
Property condition is also an important factor in the leasing process. Well-maintained homes will always rent faster than those that are older and deteriorating. Making cost-effective upgrades and improvements will ensure your rental home is noticed by the best tenants.
A good marketing plan cuts down vacancy times.
Focus your energies and budget in the online advertising space. Make sure you take high quality photos, write engaging but brief descriptions, and post that listing on all the rental sites that tenants are using. Syndicate the advertisement when you can to save time.
Always be proactive when following up with tenants. If you’re responsive to their calls, messages, and requests to see the property, you’ll have it rented in less time.
Vacancy is expensive, so do everything you can to ensure your home rents as quickly as it can. If you’d like some help for your specific property, please don’t hesitate to
get in touch with us. Onyx Property Management offers a no-cost no-obligation evaluation of your property. We will provide you with rental comparisons for similar properties in your area and advise you on any upgrades or maintenance issues that need to be addressed to obtain top dollar for your rental property.
Experienced
San Diego property management professionals, Onyx Property Management serves the entire county, including San Diego, Chula Vista, Oceanside, Carlsbad, and the surrounding areas.
