When your property is on the rental market, you want to find tenants as fast as possible. But there are many factors at play when it comes to leasing your rental property quickly. You must consider the rental market, pricing, location, and more to effectively create a strategy for listing and leasing your property.
Today, we’re breaking down all the elements that go into making this decision and giving you six best practices to help you reduce your vacancy rates by renting your property as fast as possible.
For more information on renting your property quickly in Orange County, reach out to our Good Life Property Management team.
Key Takeaways
- The average time to rent a property in Orange County is 44 days, but competitively priced properties often rent within 2-3 weeks.
- In our experience, ensuring your property is rent-ready—modern upgrades, deep cleaning, and repairs—attracts tenants faster.
- Orange County’s competitive rental market (95.9% occupancy) highlights the importance of pricing your property strategically.
- High-quality photos, detailed listings, and clear communication can significantly reduce vacancy times.
Table of Contents
Where Does the Rental Market in Orange County Stand?
Orange County is home to a very competitive rental market. While California as a whole can be a difficult place to find a rental property for tenants, Orange County is one of the most challenging, according to a 2024 analysis from RentCafe. In fact, Orange County is the eighth most competitive rental market in 2024, with a competitive score of 78.8%.
According to the report, there are twelve applicants for every vacant rental property in Orange County. Additionally, 63.4% of tenants are renewing their leases, and 95.9% of rental properties are occupied.
With numbers like that, it’s clear that there is a lot of demand for rental properties in the OC.
63.4%
The percentage of tenants who renew their leases.
12
The number of applicants per vacant rental property.
95.9%
The percentage of occupied rental properties.
The rental market in Orange County has seen some moderation in rent increases compared to the spikes observed during the post-pandemic housing boom. The median rent in Orange County fell by 0.4% in August 2024, with an increase of 1.0% over the past 12 months.
Demand for rental properties remains strong, but the pace of rental growth has slowed as more rental units become available and economic factors put pressure on household budgets.
How Long Will It Take to Rent a Property in the OC?
Many factors determine how long it takes to rent a property in Orange County. RentCafe says the average rental property is vacant for 44 days before finding a new tenant.
From our experience in the OC, a competitively priced property can take two to three weeks to rent. But if a property is listed above market, it will likely take 30 to 60 days.
Setting a competitive rental price is key to the success of your rental property. If you’re struggling to set rent for your property, try our free rent estimator, designed specifically for Orange County property owners.
What Factors Can Affect Vacancy Periods?
There are several factors that impact vacancy rates in rental properties. Let’s explore six factors that we find can have an impact on renting your property in Orange County.
1. Location
Even within Orange County, location can affect how long your property stays vacant. There are 34 incorporated cities in Orange County, each with a different rental landscape.
Rental trends can vary significantly by neighborhood. Coastal areas and highly sought-after communities like Newport Beach, Laguna Beach, and Irvine tend to have higher rents and lower vacancy rates compared to inland regions. Consider other location-based factors like access to public transport, school districts, popular amenities, and more.
Want to learn more about the best neighbors in Orange County to invest in? Read “Best Neighborhoods for Property Investment in Orange County” to learn about the 12 best cities.
2. Current condition
The condition of your property can impact the vacancy periods between tenants. The more modern upgrades to your property, the more likely it is to rent quickly. If your property has new appliances, a fresh coat of paint, and new carpet, it is more likely to attract potential tenants. On the other hand, if your property has visible signs of wear and tear from daily living, it may take longer to find a tenant.
It’s important to ensure your property is rent-ready before you begin looking for tenants. This will give you the best possible chance of renting quickly to high-quality tenants.
3. Lease terms
The terms you set out in the lease can also impact how quickly your property will be rented. Having flexible leasing terms can help you find a tenant soon. Will you accept different leasing periods? Are you open to pets in your rental? When you are open and willing to work with prospective tenants, you will have a bigger pool of applicants to choose from.
4. Price
As mentioned above, the price of your rental property can impact your vacancy rates. A competitive rate for your property and location will most likely rent out very quickly. But if you’ve overpriced, there is a higher risk of your property sitting on the market for a longer period of time.
5. Time of year
While moving is most likely not on too many people’s “favorite things to do” lists, research shows that people try to time their moves around warmer weather. We see the same thing here in Orange County—people want to move during the spring and summer months. So, the best time to rent out your property is between April and August. Properties listed during these months will be snatched up quickly.
Fall is still a good time, although you may start to notice the demand slowing down slightly from September to November. Winter is by far the lowest-demand time of year due to the holiday season. But in a high-demand area like Orange County, even December to March can still be a viable option.
6. Market conditions
Economic uncertainty can lengthen residential vacancy periods by causing potential renters or buyers to delay decisions due to concerns about job security and financial stability. This hesitance reduces demand, making it harder for property owners to fill vacancies quickly.
What Can You Do To Rent Your Property Quickly?
While there are some factors that are out of your control, like the rental market, there are things you can do to rent your property quickly. This strategy can help you get the right tenants in your rental property as fast as possible.
Ensure your property is rent-ready
To attract the best tenants quickly and secure the highest rent possible, you want to ensure your property is in tip-top condition before listing it. This is called getting your property in rent-ready condition.
It includes everything from cleaning the property, testing your electrical systems, refreshing the paint, and getting your paperwork in order. Here is a comprehensive list of things you can do to get your property ready to hit the market:
- Walk through the property like you’re a potential tenant to see if there are ways to make it more appealing from their perspective.
- Spruce up the exterior of the property to create curb appeal.
- Ensure all property upgrades and repairs are complete.
- Check that all appliances, fixtures, and systems are in working order.
- Inspect and service the HVAC system.
- Deep clean and deodorize the property from top to bottom.
- Re-paint the property, patch any holes or cracks, refinish hardwood floors, and complete other cosmetic upgrades.
- Re-key the property or replace the locks.
- Get all your paperwork—from tenants screening criteria to lease agreements—in order.
Create an attention-grabbing property listing
Create an attention-grabbing property listing
Advertising your property is a central part of leasing your property. You need to create an attention-grabbing property listing that will stop potential tenants in their tracks. Be concise and descriptive when listing your property—you want to give potential applicants all the details they need to qualify them, but not so many details that they lose interest.
Here are key things to include in your rental ads to get motivated and qualified candidates:
- Available date.
- How can they schedule a showing? Ensure this is at the top of the ad.
- 3D tour or video tour of the property.
- An in-depth description of the property—location, number of beds and baths, top 5-10 highlights that would be important to your prospective tenants.
- Answer some of the most frequently asked questions, including:
- Is there a washer and dryer in the unit or onsite?
- Does the unit have air conditioning?
- Is there a parking spot included?
- Are utilities included in the rent?
- Are pets allowed in the unit?
Once you have the perfect listing, be sure to put it online—Zillow is currently the top place to market your property.
Use photos and videos to your advantage
Photos are the first thing most tenants will look at when scanning listings. While you can certainly snap a few photos and videos on your phone for your posting, better-quality photos will help present your property in its best light. Consider hiring a professional photographer to take pictures of your property. You can also stage the property so potential tenants can get a sense of what they can do with the property.
Video is also crucial for potential tenants. Take a video tour of the property and post it with your listing. Zillow also allows you to create a 3D tour of your property that you can shoot on your phone.
All these elements help tenants feel like they’re walking the property without being there. It will help qualify tenants and ensure you have the right tenants applying for your property.
Set a competitive rental rate
We’ve already talked about the importance of pricing, but it bears repeating one more time. If you list your property and don’t get any applications within the first week, you might have a pricing problem—it’s most likely been overpriced.
If this happens, try reducing the price by 5-10%.
Take time to do the research—look at comparable properties in your area and see what they’re listed for. When you have an idea of the local average, you can choose to go higher if you feel your property has key advantages or selling points, or you can dip slightly below the average to speed up the leasing process.
Be open and communicative with prospects
Once your property is advertised, you need to be available to speak with interested parties. Answer your phone when it rings, and include your contact information on your listing. Make sure to ask for their feedback so you have an understanding of what their thoughts are about the property and encourage them to apply. We ensure someone answers calls every weekday from 8:00 a.m. to 8:00 p.m. and 9:00 a.m. to 5:00 p.m. on the weekend. These phone calls are essential to getting your property rented.
Use a property management company to put your best foot forward
When you work with a property management company, you get access to a wealth of knowledge and experience. We can help you set the most competitive price for your property, ensure there’s someone there to answer all calls about your property, hire the right professional photographer, and create an eye-catching property listing.
With a property management company on your team, you can take the steps to get your property rented quickly and efficiently. Plus, you can take advantage of all the other benefits of working with a property management company, like less stress and more free time.
Manage Your Orange County Investment Property with Ease
At Good Life Property Management, we believe life should be enjoyed, not spent sweating the small stuff. That’s why we set out to make property management easy. We care about you, your property, and your tenant. And we do it all so you can Live the Good Life.
Schedule a call to speak with one of our Good Life experts.
Renting Orange County Properties FAQs
How long does it take to rent a house in California?
The average time it takes to rent a house in California is approximately 43 days. The average in Orange County is 44 days, Silicon Valley is 40 days, Eastern LA is 45 days, and San Diego is 43 days.
Are there many available rental properties in Orange County?
There are few available rental properties in Orange County, California. As of June 2024, the occupied apartment rate in the OC is 95.9%, meaning only 4.1% of rental properties are available for rent.
Steve Welty
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