How do you handle a long vacancy (2+ months)?

[Jill Hutson]

We have a few single family homes in Kansas City, in a nicer, brand new neighborhood (built 2022). When we initially bought the homes we were able to lease for $2800-$3200/ month. However we have struggled to rent the homes at that same rate and have come down over 20% on price. Vacancy has killed the cash flow. 

What would you say are the biggest factors when leasing a higher price home? Location? Time of year? Property manager reputation? 

[Alan Asriants]

How is the inventory in your area? Has it increased a lot? 

If there are a lot of options to choose from then it will be harder to compete.

How does the listing look? Are photos attractive? How does it compare to the competition?