Property Q&A in Ocean View>Question Details

Potential La…, Other/Just Looking in Ocean View, DE

What is the average time a property is for rent. I am looking for rental trends in the Sussex County area.

Asked by Potential Landlord, Ocean View, DE Wed Sep 8, 2010

I am thinking about purchasing investment property but wanted to get an idea of how long it takes to rent out the property. I have heard it can take up to a year. True?

Help the community by answering this question:

Answers

5
The vacation rental market this year was up for rentals with my company. The overall rental depends on location, type of rental and maintenance/amenities. If you are located near the beach or in a community that caters to vacation renters you can get 6 - 12 weeks of in season rentals and possibly some off season rentals. Some long weekends or golf outings depending on the community. Annual rentals are very different.

Please contact me directly to discuss the rental market.

Brendan Garfield Crotty

(302)858-3234

President Southern Sussex Rotary

E-mail: Brendan@BrendanGarfieldCrotty.com

Website: http://www.BrendanGarfieldCrotty.com

ResortQuest Real Estate
(302) 541 - 8778
(302) 539 - 8600
33012 Coastal Highway
Bethany Beach, DE 19930
0 votes Thank Flag Link Thu Sep 9, 2010
Dear Potential,

It depends on Location, Location, Location. If the property is close to the beach weekly or seasonal rentals are the way to go, if the property is back from the beach year round rental is the answer. Where is the property located? If you are looking for rental demand in the Ocean View area I have not heard that it would take over 1 year to get the property rented.
Chris Kavanagh
Coldwell Banker Residential Brokerage
Bethany Beach, DE 19930
302-829-9068
chris@5starbeachhomes.com
0 votes Thank Flag Link Wed Sep 8, 2010
The time to rent will depend upon a couple ofmajor factors. First, where the property is located, and second, wheather you are looking fro short term rentals catering to the vacation season or a long term (yearly) rental.

Property within a few blocks of the ocean usually are rented seasonally to vacationers. The week rents can be high and a 6-8 week season can potentially generate enough income to cover yearly expenses. The properties are normally managed by a rentl agency.

Yearly rentals are normally for properties away from the ocean. Monthly rental income will be less but it is for a longer term. These properties can be managed by a rental agency as well but will normally take longer to find a renter.

As with other real estate situations, location and how much you plan to rent for are going to plan major rolls in getting a renter in place.

It all really depends on what your objectives are
Don Conant Agent with Coldwell Banker Bethany Beach
0 votes Thank Flag Link Wed Sep 8, 2010
It all depends on the location of your rental property and how competitively priced it is compared to your competition. If there are already an oversupply in the particular area, I would look elsewhere.
0 votes Thank Flag Link Wed Sep 8, 2010
Hi there - suggest you team up with a local agent that has access to rental data from the local MLS. Time to sell data is easy to extract so find yourself an agent that has the know-how and willingness to work with you and share the information. And then my recommendation is to reward her with some business.

I do not have first hand knowledge of your market, but it may be that it could take that long, I hope for your sake that is not true. The answer is in the data...

Best,
Jeanne Feenick
Unwavering Commitment to Service
Web Reference: http://www.feenick.com
0 votes Thank Flag Link Wed Sep 8, 2010
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer