COVID-19 has brought on a lot of concerns and questions about the current state of our future. In the property management industry, a common question that we have received during this timeframe is when should my rental property be listed on the market? Even more so, should my property be listed while it is occupied or should I wait until the property is vacant? Here at Oak Trust Properties, we understand owners wanting to list a property as soon as possible, but we highly recommend waiting until the property is vacant to list. Here’s why.
The Demand
Due to the climate of COVID-19, potential tenants are wanting to wait to view the properties until they are vacant. If your property has current tenants in them, these tenants are pushing for no showings at this time. Real estate offices throughout the Low Country are holding off on showing properties as well. The South Carolina Real Estate Commission has recommended virtual showings.
Days on Market
Our goal is to get your rental property rented within 30 days from your list day. A property that cannot allow for showings due to being occupied may result in more days on the market. The longer a property sits on the market, the more concern builds over that property. Why has that home been listed for so long? Is there something wrong with the home? These are the questions we want to avoid. We want the rush of a new listing where an interested party can view the vacant home right away.
Self-showings
Once a property is vacant, prospects can set up self-showings. This will allow individuals to view the home when it is convenient for them. Viewing a home brings more peace of mind to renters and that is a key element during COVID-19. Ultimately, the decision comes down to the owner of when to list their property. We will help create the best game plan and recommend the path that works best for the home based on our expertise. If you have any questions or need any help, please contact us at Oak Trust Properties.
