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Updated about 1 year ago on . Most recent reply
![Jamieson Brady's profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/211586/1694660758-avatar-tharp.jpg?twic=v1/output=image/cover=128x128&v=2)
Having trouble renting townhome
We recently bought a SFH to live in and decided to rent our townhome instead of selling it. I hired my realtor we used to buy the house to rent the place, his fee is first months rent plus $300.
Fast forward 3 months and he has only brought me 2 applications, both of which were tenants without a stable job and horrible credit. I think he priced the place too high.
Originally he was asking $2250/mo, the price has now gone down to $2100 and still not getting alot of bites. There are not a ton of rental properties in the area but the price seems decently competitive based on the few other townhomes I see on realtor.com
The photos in his listing are not great. I am considering just trying to rent the place myself- take better photos, post some "FOR RENT" signs around the neighborhood. I might drop the price significantly- my main priority is to find a good tenant who pays on time and does not trash the place.
Does anybody have an opinion on how I should proceed to get this place rented to a good tenant? Should I stick with the realtor or try to do it myself?
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Quote from @Jamieson Brady:
We recently bought a SFH to live in and decided to rent our townhome instead of selling it. I hired my realtor we used to buy the house to rent the place, his fee is first months rent plus $300.
Fast forward 3 months and he has only brought me 2 applications, both of which were tenants without a stable job and horrible credit. I think he priced the place too high.
Originally he was asking $2250/mo, the price has now gone down to $2100 and still not getting alot of bites. There are not a ton of rental properties in the area but the price seems decently competitive based on the few other townhomes I see on realtor.com
The photos in his listing are not great. I am considering just trying to rent the place myself- take better photos, post some "FOR RENT" signs around the neighborhood. I might drop the price significantly- my main priority is to find a good tenant who pays on time and does not trash the place.
Does anybody have an opinion on how I should proceed to get this place rented to a good tenant? Should I stick with the realtor or try to do it myself?
I would highly recommend reaching out to a property management company to help with the leasing. First of all, charging the first month's rent PLUS $300 is insane. At MOST leasing should cost the first month's rent. Second, realtors don't know the rental market. My guess is the agent had it listed too high. Dropping the price can be a red flag to prospective tenants because it can cause them to think there might be something "wrong" with the property. I would take the listing down and reach out to a PM, and allow them to handle it from there.