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Updated almost 12 years ago,

User Stats

91
Posts
45
Votes
Dan B.
  • Rental Property Investor
  • St Paul, MN
45
Votes |
91
Posts

Getting a new property rented

Dan B.
  • Rental Property Investor
  • St Paul, MN
Posted

Hey all, question for you experts out there. How long do you expect it to take to get a property rented once you have purchased it?

We closed on a duplex a couple weeks ago that was owner occ'd. Did a little cleanup and listed it for rent. I think my listing is pretty good, have gotten several calls, showed it a number of times. People take applications but don't fill them out or return them. The ones that seem the most serious (and qualified) are typically looking at June 1 for move in. I'm glad they are giving their 60 day notice, but that is a long time! How long do you hold a property, even with a 'holding fee'? Or would you just make the lease start sooner regardless and if they want it make them start paying rent on say May 15 or May 1?

This property is a fairly nice place (a bit dated inside), but in good shape. It has some nice ammenities - attached garage, deck, sunroom, decent yard, backs up to a large park. I feel I'm asking an average rent, maybe low considering these extras. Also, this is in a very desirable suburban area. Great schools, parks, not many rental properties.

Do I just need to be patient? Insist on a May 1 date?
Thoughts?

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