General Landlording & Rental Properties

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Matthew John
  • Rental Property Investor
  • Metro Detroit, MI
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277
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How long does it usually take to Rent a unit?

Matthew John
  • Rental Property Investor
  • Metro Detroit, MI
Posted Sep 25 2018, 09:31
Hey guys, I just purchased a duplex and I'm trying to rent out the bottom, bigger unit. I have had it listed for about a week and I've done about 5 showings. The first few days I received about 70 messages from people inquiring, but very few meet my criteria. I didn't initially want pets, but it seems everyone has at least 1 dog. Now I'm only getting 3-10 Messages per day. Sometimes people get there and don't like that it's a duplex and they have to share laundry, some don't like that it doesn't have central Air, and some just don't make enough money to qualify or have bad credit. My question is... How long does it usually take you to get a unit rented out after purchasing? I am a new landlord and have the income for the upstairs unit, but it looks like I'm going to have to fork up some $$ for the first month's mortgage. Am I being impatient or does it usually take A month or so to get a qualified tenant in there? Coming up to the winter months I'm nervous it'll only become harder to find someone! Not sure if I should drop the price or hold out a bit longer.

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