How long does it take to rent out a place?

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IrvineLocal_IHB

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Friend just signed a purchase contract on a Woodbridge townhouse (or is it a condo? I have no idea) 3/3bath, 1600sq.ft. Since he's not local, he's going to hire a property management company to find a tenant for him and manage it for him. They told him that it would likely rent for $2500/month.



Does anyone have any idea how long it might take before they find a decent tenant for him?



Kind of worried about him and his carrying cost calculations. I'm not sure if he is prepared if it takes longer than a month to rent out the place... Maybe it really wouldn't take all that long?
 
[quote author="DeadbeatRoommate" date=1249391824]Friend just signed a purchase contract on a Woodbridge townhouse (or is it a condo? I have no idea) 3/3bath, 1600sq.ft. Since he's not local, he's going to hire <strong>a property management company to find a tenant for him and manage it for him.</strong> They told him that it would likely rent for $2500/month.



Does anyone have any idea how long it might take before they find a decent tenant for him?



Kind of worried about him and his carrying cost calculations. I'm not sure if he is prepared if it takes longer than a month to rent out the place... Maybe it really wouldn't take all that long?</blockquote>


Referrals gladly accepted.



-IR2
 
[quote author="DeadbeatRoommate" date=1249432114]Do you do that too? Manage rentals for folk? How much do you charge for your services?</blockquote>


How much depends upon how much they're asking me to do.



Plenty of references if your friend needs them. Feel free to PM me with specifics.

Thank you,

-IR2
 
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