Renting out your property quickly needs to be a priority because long vacancy times will only cost you money. Many of the property owners we work with want to know how long it will take to rent out a property in the Denver market. Our average at Walters & Company is about 15 days. Today, we’re sharing some tips that help us get our properties off the market and occupied by qualified tenants as soon as possible.
Provide an Attractive Property
Attractive homes rent a lot faster than homes that look unkempt and broken. Make sure you have some great curb appeal; when tenants drive by the property, you want them to see a well-maintained lawn and a pretty house. Inside, they’ll expect cleanliness and functionality. Make sure you fix everything that needs repairs before you begin marketing your home. When tenants visit, they’ll want to imagine moving right in. Getting your property rent-ready is the first step in renting it out quickly.
Price Your Property Correctly
Pricing is power, especially when it comes to the Denver rental market. Don’t fall into the trap of overpricing your property. It’s important that you’re competitive. Good tenants are informed, and they know what they’re willing to pay. Take a look at similar properties in your area and make sure you’re not outside the range of what those homes are renting for. If you price your home too high, you’re going to face a longer vacancy period. Pay attention to the market and remember that it doesn’t matter how much you think your property is worth. It doesn’t matter how much cash flow you need to earn. The market determines the price, and if you want to rent your property out to excellent tenants, you need to be aggressive and competitive.
Pay Attention to Marketing
Strategic marketing will get the attention of desirable tenants and encourage them to see your home. Take some good, professional pictures to include with your listing. Think about using a video to really give potential renters an idea of what it’s like to be inside your home. There are hundreds of websites that you can use to market your property. Make sure your listing is on all the popular sites, such as Zillow, HotPads, Rentals.com, and Zumper. Include pertinent information such as the rental amount, when the property will be ready for move-in, whether pets are accepted, and how to schedule a showing. Professional signage can also get the attention of people who happen to be driving or walking through the neighborhood.
Be Available for to Prospective Tenants
We show properties six days a week, including after hours and appointments on weekends. You need to have the same flexibility when you want to rent your home out quickly. Respond to the potential tenants who call and email for more information. Well-qualified tenants have a lot of choices, and they’ll move on quickly if they don’t hear back from you. Be prepared to answer your phone and follow up. Keep in touch with prospective renters even after showings, and offer an application while you’re there.
We can help you rent your home out quickly. Contact us at Walters & Company Property Management.