How many showings until signed lease?

What neighborhood is this in?
What price point?
Fee or no fee?

i heard 5 showing can convert to 1 offer. My experience seems to confirm this.

oops, my bad. i was talking about sale market.

@fieldschester good questions. How have each of these variables affected the duration on market in your experience?

There are a lot of factors involved: condition of apartment. location, views, price point, etc. For the last apartment I sold, I had 2 offers after the first open house. I had one more open house as a "safety". The apartment I sold before that I had 5 offers after the first open house. I had one more open house after that as a "safety".

If you or your broker are marketing it correctly, it should only take 5-10 times. If you are fishing for a higher price than the market dictates, it will sit. I think the best strategy is to price just below the market, and hopefully have multiple offers from renters. It is much better to have your pick of qualified tenants than to get the highest price and have a demanding tenant.