How long it takes to rent duplex near Cambridge?
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Cambridge, MA · Member since 2015 · 651 posts · 736 votes
3yThe vacancy rate in Cambridge is currently .54% but you can find out what the vacancy rate for your specific area is by doing a Google search:
vacancy rate [name of city]
BostonPads has real time vacancy rates for all the areas in and around Boston. For instance, Somerville's current vacancy rate is .26%.
They also have the average rent and average number of days on market. A lot will depend upon the exact location of your duplex and the rent amount.
8 Replies
- Cambridge, MA · Member since 2015 · 651 posts · 736 votes3y
The vacancy rate in Cambridge is currently .54% but you can find out what the vacancy rate for your specific area is by doing a Google search:
vacancy rate [name of city]
BostonPads has real time vacancy rates for all the areas in and around Boston. For instance, Somerville's current vacancy rate is .26%.
They also have the average rent and average number of days on market. A lot will depend upon the exact location of your duplex and the rent amount.
- Member since 2019 · 4 posts · 2 votes3y
It really depends on the exact location, the rent and the time of the year. I'm a local real estate agent and do a lot of rentals in Cambridge and Somerville. In these areas It's best to start advertising the property about 90 days before the move-in date if you can. For 4+brs you can increase it to 120-150 days out. A properly priced apartment would typically rent within 1-3 weeks but pretty often it rents within days. 1-2brs are less affected by cycles but the summer cycle is still the best. For 3+brs it's important to keep them on the summer-Sep 1 cycle. If it's a new purchase and you're doing a renovation you can start advertising when the renovation is half done. You can PM me if you want me to give you an estimate of how much you could get for your rental.
- 3yMimi ZhuMember since 2023 · 5 posts · 0 votesOPThank you so much for the information! The website BostonPads is amazing! I obtained all the data I needed which makes me feel much more comfortable about the decision.
Quote from @Carolyn Fuller:
The vacancy rate in Cambridge is currently .54% but you can find out what the vacancy rate for your specific area is by doing a Google search:
vacancy rate [name of city]
BostonPads has real time vacancy rates for all the areas in and around Boston. For instance, Somerville's current vacancy rate is .26%.
They also have the average rent and average number of days on market. A lot will depend upon the exact location of your duplex and the rent amount.
- 3yMimi ZhuMember since 2023 · 5 posts · 0 votesOP
Quote from @Sergei Shyshko:
It really depends on the exact location, the rent and the time of the year. I'm a local real estate agent and do a lot of rentals in Cambridge and Somerville. In these areas It's best to start advertising the property about 90 days before the move-in date if you can. For 4+brs you can increase it to 120-150 days out. A properly priced apartment would typically rent within 1-3 weeks but pretty often it rents within days. 1-2brs are less affected by cycles but the summer cycle is still the best. For 3+brs it's important to keep them on the summer-Sep 1 cycle. If it's a new purchase and you're doing a renovation you can start advertising when the renovation is half done. You can PM me if you want me to give you an estimate of how much you could get for your rental.
Thank you very much for the insights! The duplex I am buying have two unit of 2B so hopefully it won't take too long to rent out. Halfway of renovation would be early March which only gives me about 20 days if I want to rent both units out on April 1st. I am thinking of starting advertising after close immediately, which may give me two more weeks. Cons is that we won't have beautiful photo at that time. Would that be a problem?
- 3yLien VuongBusiness MemberReal Estate Agent · Boston, MA · Member since 2018 · 2k+ posts · 1k+ votes
its a high absorption market so you should be fine to get tenants in 30-60 days, especially when you're coming into the rental season which is June-Aug.
The Elle Group5153 Reviews - 3yMimi ZhuMember since 2023 · 5 posts · 0 votesOP
Quote from @Lien Vuong:
its a high absorption market so you should be fine to get tenants in 30-60 days, especially when you're coming into the rental season which is June-Aug.
Thanks！I was hoping to rent it out in April, otherwise there will be more than one month vacancy. Is it too ambitious?
- Member since 2019 · 4 posts · 2 votes3y
Quote from @Mimi Zhu:
Quote from @Sergei Shyshko:
It really depends on the exact location, the rent and the time of the year. I'm a local real estate agent and do a lot of rentals in Cambridge and Somerville. In these areas It's best to start advertising the property about 90 days before the move-in date if you can. For 4+brs you can increase it to 120-150 days out. A properly priced apartment would typically rent within 1-3 weeks but pretty often it rents within days. 1-2brs are less affected by cycles but the summer cycle is still the best. For 3+brs it's important to keep them on the summer-Sep 1 cycle. If it's a new purchase and you're doing a renovation you can start advertising when the renovation is half done. You can PM me if you want me to give you an estimate of how much you could get for your rental.
Thank you very much for the insights! The duplex I am buying have two unit of 2B so hopefully it won't take too long to rent out. Halfway of renovation would be early March which only gives me about 20 days if I want to rent both units out on April 1st. I am thinking of starting advertising after close immediately, which may give me two more weeks. Cons is that we won't have beautiful photo at that time. Would that be a problem?
Yes, you can just put it on the market right after closing. Just state in the description that it's under renovation and include a few renderings of the new kitchen/bath or pics of the new cabinets materials etc. It'll not be as good and the pics of a half done renovation but if you want to rent it for April it's still better to start advertising right away rather than in mid March when the reno is half done.
- 3yMimi ZhuMember since 2023 · 5 posts · 0 votesOP
Quote from @Sergei Shyshko:
Quote from @Mimi Zhu:
Quote from @Sergei Shyshko:
It really depends on the exact location, the rent and the time of the year. I'm a local real estate agent and do a lot of rentals in Cambridge and Somerville. In these areas It's best to start advertising the property about 90 days before the move-in date if you can. For 4+brs you can increase it to 120-150 days out. A properly priced apartment would typically rent within 1-3 weeks but pretty often it rents within days. 1-2brs are less affected by cycles but the summer cycle is still the best. For 3+brs it's important to keep them on the summer-Sep 1 cycle. If it's a new purchase and you're doing a renovation you can start advertising when the renovation is half done. You can PM me if you want me to give you an estimate of how much you could get for your rental.
Thank you very much for the insights! The duplex I am buying have two unit of 2B so hopefully it won't take too long to rent out. Halfway of renovation would be early March which only gives me about 20 days if I want to rent both units out on April 1st. I am thinking of starting advertising after close immediately, which may give me two more weeks. Cons is that we won't have beautiful photo at that time. Would that be a problem?
Yes, you can just put it on the market right after closing. Just state in the description that it's under renovation and include a few renderings of the new kitchen/bath or pics of the new cabinets materials etc. It'll not be as good and the pics of a half done renovation but if you want to rent it for April it's still better to start advertising right away rather than in mid March when the reno is half done.
I will! I appreciate your replies.
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