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Updated almost 4 years ago, 01/06/2021
How long to get rental applicants in Chicago?
Hello, we are in the midst of moving and want to rent out our unit (Buena Park area in Chicago). I looked around the area and knowing the size of our place, number of beds/baths, plus other benefits such as it being a top floor unit, two parking spots and dogs allowed.. I feel it is priced fairly. However, we are not having much interest. How long have your properties been listed before seeing interest? How much in advance of when it is available? When I was a renter years ago I began looking about two months prior to needing a place. Also, sites you have had best luck getting interest? We have our place posted on Zillow (and rental network - Trulia, Hotpads), Domu, Craigslist, Padmapper, and Apartments.com.
Thanks in advance!!
Hi @Jamie Bergstrom, I can't speak to Chicago directly but I do have a few thoughts for you. I know from growing up in Cleveland and my dad owning rental properties that the winter is the worst time to find a renter because people don't want to move in the snow/cold.
If you are not getting interested in your property, it's the price. You can always offer 2-4 weeks of free rent to entice people instead of lowering as another option. The key is to try and get as many people to click on your listing as possible so make sure you have awesome photos and a great description.
Also, I have been getting most of my renters from Facebook Marketplace the last couple of years.
- Brad Hammond
Winter is slow,but I just rented a place out in mid November and I was doing about 5 showings a week, after 2 weeks I didn't get any applicants so I dropped the price and got one immediately.
- Brie Schmidt
- Podcast Guest on Show #132
Thank you @Brad Hammond and @Brie Schmidt! Great insight!