The rental market has grown significantly in the last few years and is not showing any signs of slowing down. Many property owners who are planning to rent out their property ask how long they should expect it to take to rent out their property. Different markets and how you decide to rent out your property make a difference as well as other factors.
Factors such as location, type of property, and price all are factors that affect how long it takes for your rental property to get filled. Other things to consider are where you market your rental property, the pictures you have taken of your property, and how your description showcases your property. All of these factors have play a part in how long it takes to get your rental property rented.
Another major difference maker in market time for your rental property is whether you choose to rent your property on your own or have a property management company rent it out for you. If you plan to rent your property out on your own you can likely expect your rental property to take 2-3 months or longer to rent out on average. Most property management companies however are able to rent out homes with a 30 day average market time. The difference of 1-2 months of additional rental income can really make the difference for property owners who are renting out their homes.