[Purplxstar]

Hello!

I'm just curious what's a realistic time frame (days, weeks, months?) to fill a rental property in Vegas area? Average neighborhood, 1500sqft, 3 bed 2 bath, 2 car garage? TIA!

[von949]

Average neighborhood in Vegas?

Each property vacancy time will be dependent on location, access to public transportation, price, schools, amenities(shopping/casinos) and just personal preference by what people are looking for. Someone once told me that a property was too far from the nearest 7-11.

Anyway, 70% of the time I will know when a tenant is moving out a couple of weeks in advance. With the right advertising(Craigslist, Backpage, hanging up signs) I can have tenants waiting for the old tenants to move out. This is an extremely ideal situation.

I once was posting a vacancy sign on a major intersection near one of the properties I watch over. I hung it up on a Saturday morning. Received 3 inquiries about it by the evening. Showed the property the following Sunday morning. They were ready to commit to a lease after the showing. This was all within a 24 hour period.

[airics]

Definitely depends on location. It took me 3wks from advertising to move in.. Home next door to this property going on 3 mos. plus it's owned by out of towners

[brdd]

I just listed a condo there........took 10 days to rent it out.......

[forestgump]

Von949 is spot on.
The public has to know its available and when its advertised in every conceivable way, then you'll get the wanderers, info-seekers, lookie-loos and finally the people that know what they are doing, serious about moving.
As a landlord, I know when a property is going to be vacated, I do some preliminary advertising to see if I can get more rent money out of the place and if that fails or not as embracing, I may fall back to normal rental value and if I really want it rented without time to spare, I rent it a little below market value (or the same rent I was receiving previously).

[von949]

Originally Posted by forestgump

Von949 is spot on.
The public has to know its available and when its advertised in every conceivable way, then you'll get the wanderers, info-seekers, lookie-loos and finally the people that know what they are doing, serious about moving.
As a landlord, I know when a property is going to be vacated, I do some preliminary advertising to see if I can get more rent money out of the place and if that fails or not as embracing, I may fall back to normal rental value and if I really want it rented without time to spare, I rent it a little below market value (or the same rent I was receiving previously).

I usually do the same with adjusting the numbers according to how fast I want to rent the place out, quality of tenants and market value. For instance, rent is usually $550-650 but I have been able to rent as high as $700+ with a discounted deposit. My uncle-in-law who owns the properties would sometimes lower the rent down to $500 or less with a higher deposit. This is pretty popular around income tax season. Now he just leaves it up to me to decide however I want to tailor it. The houses are all paid off so he does not really care what I do plus he lives out of town and getting too old to deal with tenants.

The properties I watch over are in the down town area and sometimes a little challenging to advertise for. Not the best area but the price is affordable. Putting up tear-tab ads in the public library or laundromat works the best.