Posted by Keen_NC on February 02, 2001 at 13:14:33:
Rent is definitely not too high. We’ve asked several people and they agree that the rate is a bargain for those specific units. Well since I last wrote the message earlier today, we’ve rented one unit. But any advice is still greatly appreciated
HELP: Renting Properties - Posted by Keen_NC
Posted by Keen_NC on February 02, 2001 at 10:12:51:
Hi Everyone,
I’m a fairly new investor. My partner and I have two vacant units and we’ve been trying to rent them for a little over a month now. It’s a duplex, 2BR/1BA on each side with gas heat, range and refrigirator. We’re only asking $550 per unit.We placed some ads in the local paper and have gotten many responses. We have shown the units to about 10 people up to now but no one contact us after they view the units or attemp to return their rental application. What are we doing wrong or what are we not doing? Can you guys give us some tips and tricks on renting properties?
Re: HELP: Renting Properties - Posted by Mark
Posted by Mark on February 03, 2001 at 23:36:32:
try looking at what they see when coming in the door, renters (women)start at the bath,kitchen,then master bedroom,you get them right, the lady is happy,your happy.I don’t try to understand it but if the bath and kitchen look good it don’t have to have a roof over it and it will rent !
Re: HELP: Renting Properties - Posted by Frank Chin
Posted by Frank Chin on February 03, 2001 at 10:29:25:
This may not be unusual.
I own rentals in the New York Metro area and apts. are rented out in one or two weekends at the most - even if they’re not in tip top shape. I have about 100 to 150 responses generally for a three day ad.
Then I have condos in Springfield Ma. It takes up to 2 months to rent. Generally 2 to 3 people come by each week. I charge competitive rent in an upscale building rehabbed into a condo only ten years ago. Appliances are all new - the place is painted, with new carpets.
Reason for the slowness is due to the local vacancies -and comptetitive rentals out there - either bigger, cheaper, easier to get to the highway, shopping etc. Then there’s question about school districts etc. Also January is the toughest month in the year for me since people are still recovering from the holidays - and its kind of cold driving around looking for something.
Your tenant may be walking through the door any day now.
Good luck!!
You’re getting good ad response… - Posted by David Krulac
Posted by David Krulac on February 02, 2001 at 18:51:36:
so I would think that the rent is in the range that people expect for that unit. And its clean and ready to move into. Is there something about the apartment that turns people off, like small rooms, antique kitchen and appliances, old capeting even if in good comdition, green shag is still a turn off. Once I looked at an apartment that didn’t have adequate electrical power so there was NO stove, but instead this vast array of kitchen appliances, but they were all 20 years old or more and looked like Salvation Army rejects. If the turn off is not in the apartment is it outside, like no parking, noisey neighbor like a factory or a bar. You get the idea.
Re: HELP: Renting Properties - Posted by Suzanne
Posted by Suzanne on February 02, 2001 at 16:59:57:
My dad was having the same problem with one of his properties. He always cleans and paints after each tenant leaves, but the units are old, with old fixtures and appliances.
We spent about $250 replacing old light switches/electrical plugs and plates, and put wallpaper on two walls in the kitchen, colorful curtains on the kitchen window. We also put a wallpaper border on one wall above the bathroom pullman and hung a matching shower curtain.
On the day we showed it, I put in a few accessories like a rug and towels in the bathroom, cannisters on the kitchen counter, and a couple of potted plants.
Result: We had over ten applications for this place! Dad was able to find a good tenant.
Women especially want a nice home. If you can offer them something special that they can’t find in another rental, they’ll rent from you.
Re: HELP: Renting Properties - Posted by Stacy (AZ)
Posted by Stacy (AZ) on February 02, 2001 at 14:21:44:
Is there any incentive you could mention in your ad to make your property more valuable, or stand-out?
Examples:
Free cable! (raise the rent $20)
$200 moves you in! (screen for only the best tenants, and/or raise the rent to compensate)
100 free lottery tickets!
Well, you get the idea…
Stacy
Re: HELP: Renting Properties - Posted by phil fernandez
Posted by phil fernandez on February 02, 2001 at 10:36:06:
How does the unit show. Make sure the unit is sqeaky clean. It’s a big turnoff for prospective tenants if the rental is dirty.
Re: HELP: Renting Properties - Posted by Tim Jensen
Posted by Tim Jensen on February 02, 2001 at 10:28:37:
Keen,
What I would reccommend is that when someone comes and sees the place ask them what they think. I have gone as far as to ask the prospective tenants what they did not like about the place. Then if possible, correct the defect. Maybe your rent is too high. Asking the prospective tenants should give you the answer to that question. You will have to ask more than one propective tenant before you get an honest answer though.
Tim
Re: HELP: Renting Properties - Posted by Keen_NC
Posted by Keen_NC on February 02, 2001 at 13:11:43:
It is clean. we even painted the inside and the outside everything are in working condition