You want to rent your Orlando property out to great tenants as quickly as possible. A long vacancy does not benefit you and it does not benefit your property.
So how long will it take to get your Orlando home rented?
Well, it depends.
That’s not a very satisfying answer, but it really does depend on a number of things, such as the market and the competition, whether you’ve priced your home correctly, and whether it’s ready to attract great renters. Good marketing also helps.
Consider the Strength of the Orlando Rental Market
It will take longer to rent your property if the market is competitive. When there’s not a lot of demand and a huge supply of rental homes that resemble yours, you may find that you’re waiting longer to get the tenant and the rental price you want.
However, in a market that tends to have less rental inventory and a large pool of tenants looking for homes, you’ll find your property rents within weeks of being listed. Maybe even days.
Price your home according to the market, and think about seasonal influence. Most tenants prefer to move in the late spring or throughout the summer, especially those renters with children in school. You’re not going to rent your Orlando home immediately if you list it between Thanksgiving and the December holidays.
Attach a Competitive Rental Value
The amount of rent you’re asking will impact how quickly you rent your home. If you’re competitive, you’ll have multiple tenants wanting to apply for it as soon as you begin showing the property. If you’re at the higher end of the rental range, it may take longer to find a tenant who is willing to pay what you’re asking.
Will You Allow Pets?
Pet-friendly properties always rent faster. More than half of the tenants in Orlando own at least one pet. If you deny tenants with pets, you’re immediately reducing your tenant pool.
If you want to rent out your home as quickly as you can, be willing to consider pets. You can put together a strict pet policy that limits the number of animals, the breeds, and the sizes. There are ways to protect your investment while allowing pets into the home.
Provide a Rent-Ready Home
Don’t list and advertise your home if it isn’t move-in ready. It will only delay your search for a tenant.
When tenants scroll through photos online or show up to see the property, they want to know that the home is clean, functional, and ready for occupancy. If the appliances haven’t been installed yet and doors are off their hinges, it’s going to take longer to rent. Make sure the home looks fantastic before you try to rent it. Prospective tenants will want to imagine themselves living there, and they can’t do that if work is still being done or the place is a mess.
Marketing Makes a Difference
The home isn’t going to rent itself out. You have to put together a strategic marketing plan that centers on online advertising. Tenants are checking the internet and popular rental sites when they’re looking for their next home. They’re on social media. Put together a listing that will grab their attention and make sure it gets the exposure you need.
Be responsive as well. When tenants call or message to ask for more information, get back to them as soon as you can. Don’t give them a reason to look elsewhere, otherwise you’ll be waiting longer to rent out the property.
We can help with the Orlando leasing process and get your home rented as quickly as possible. For additional assistance, contact us at Park Avenue Property Management.