How to figure out if rental will have high or low vacancy rate

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How to figure out if rental will have high or low vacancy rate

Sean Gallagher
TX · Member since 2014 · 151 posts · 23 votes

So I found a good deal, the numbers work but who is to say even if the property is listed at fair market value I will have any tenants interested?  If the demand isn't there I could be in trouble.  What factors can I take into account that may assure me I would be ok, is there a population or statistic?  

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  • Chuck Gerchow
    Real Estate Agent · Bothell, WA · Member since 2016 · 27 posts · 2 votes
    10y
    Contact local property managers. They deal with this daily placing tenants. Also job stats for area. Chamber of commerce for the city or county and property is in can be helpful! Who are the major employers? Chuck
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  • Russell BrazilBusiness Member
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    Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
    10y

    If Craigs List is largely used in your area for housing like it is in mine...you can test out demand on there.  I will typically post ads on Craigs List, at different price points, to see how many emails I get regarding a property at those different price points to determine demand. $1500 only 2 emails, $1400 20 emails....then I start to learn the sweet spot for the rent, and learn how easy it will be to rent the unit.

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