Renting out property
January 28, 2020

Could you have earned more if you would have listed your rental a bit longer?

The Traditional Time vs Cost Equation

We read a lot about property managers proudly presenting their record low listing turnarounds. The time your listing is on the market is obviously a time when your rental isn't yielding anything, but getting someone in fast isn't always the best strategy. 

The Time vs Cost vs Quality Equation

The more crucial aspect property managers often ignores is the quality of tenant aspect, sure, you might be able to get tenants quickly but that is no guarantee they'll be good, leading to other nasty surprises down the line. If your property manager is already focusing on time savings, she is most likely more concerned about her own time than about your investment or tenants, that can also mean that they lower your rental fee, knowing they can make up for the loss by charging you other hidden fees. Priority should lie on getting good tenants for the right rent amount in a time that doesn't have a major impact on your yields.
A good way to test the impacts of listing a bit longer for a higher weekly rent can easily be calculated and it gives you a direct understanding of the impacts of having it on the market a bit longer. To get started, use the calculator below:

 

Cubbi is an online rental management platform that simplifies renting for both the owner and tenant. If you are interested in following our journey to transform property management, feel free to subscribe or why not even sign up to see the platform for yourself, visit Cubbi for more information.