The rental process involves several stages, from listing the property to inquiries, viewings, applications, screenings, and finally, signing the lease. This is a funnel-like selection process. The time it takes to rent out the property depends on several factors:
- Property Attributes: The type, layout, location, condition, and amenities of the property.
- Listing Time: The rental market has clear seasonal and cyclical patterns. For example, properties listed between April and June generally rent out faster than those listed between September and November. There is also a wider pool of high-quality tenants available during peak times.
- Local market competition: properties listed within the same neighborhood or school district can greatly affect how quickly a property is rented out.
We also adjust the rental price and leasing strategy based on weekly inquiry volumes. Overall, the average time from listing to signing a lease range from 2 to 8 weeks. Therefore, we usually recommend preparing early to allow for greater flexibility in tenant selection.