How long does it take to rent out a place?
December 16, 2008 2:51 AM Subscribe
Is there a good way to estimate how soon I'd be able to rent out my place?
I'm considering getting a job in another city and moving. If I did get an offer from an organization in another city, I'd need to rent out my condo, as I doubt I'd be able to sell it in this market at a reasonable price.
The thing is, I don't know how to guess at how long it would take to find tenants. Are there any rules of thumb for figuring this out? Something along the lines of "three weeks, minus a week for every $100 under the average rent for the area"?
I'd also appreciate any advice about the feasibility of relocating while leaving behind a property. I figure that plenty of people have already done this, and that you can take care of your tenants by calling for whatever professional service they need when problems occur, e.g. electrician, plumber.