One of the most important things that landlords look for in a good property manager, is how fast they can get a tenant! Extended vacancy time costs money. Minimizing that helps investors maximize ROI for their rental properties. Conversation with an out of state peer prompted me to run some numbers, to see how Strawberry Property Management compares with our local competitors. I wanted to see how long it normally takes to rent out a home in Las Vegas, and compare the data. I pulled the average days on market for all rental listings from some of the biggest property management companies in Las Vegas. I’ll let the numbers speak for themselves:
How long some of the big companies take to rent out a home in Las Vegas
| Company** | Average Days on Market |
Median Days on Market |
| K** Property Management | 32 | 19 |
| T****** Property Management | 31 | 19 |
| G***** W*** Property Management | 36 | 24 |
| R*** Property Management | 30 | 21 |
Time to place tenants in Las Vegas
| Comparison | Average Days on Market |
Median Days on Market |
| ALL Rental Listings in the MLS* | 27 | 16 |
| Strawberry Property Management** | 13 | 9 |
How do we rent homes so much faster than the competition?
The answer is simple: Marketing. We invest in equipment and time to produce quality listing photos. We also use video tours and 360° virtual tours. In addition, we pay for a listing syndication service to push our vacancy listings to up to 85 websites around the internet, including Facebook Marketplace. Further still, we utilize social media: Facebook posts and boosts, YouTube, Twitter, even LinkedIn. Finally, we use technology to gather potential renters into our database and send them occasional blasts. We’ll even send the occasional email to our current tenants, to see if they might know someone looking for a new rental home.
All of these things help landlords rent out a home in Las Vegas faster, saving them time and money. If you would like our help with your rental property, please contact us today!
* Overall MLS rental data for the year May 24, 2018 – May 24, 2019.
** Overall rental data for the company
Data gathered from the The Greater Las Vegas Association of Realtors (MLS), and our own company rental statistics.