Seeking Advice on Renting Newly Renovated Home in Akron, OH (44306)

[Rereloluwa Fatunmbi]

Hello,

I recently closed on a newly renovated, 900 sq ft single-family home with 3 bedrooms and 1 bathroom in the 44306 zip code of Akron, Ohio. I initially listed the property for rent at $1100 but had to reduce it to $1000.

Unfortunately, the only serious applicants I've received either have a criminal history, poor references from previous or current landlords, or have faced evictions in the past three years.

With almost two months of vacancy, I am growing increasingly concerned.

Should I consider lowering the rent price further, renting to these concerning candidates, or pivoting to a short-term or mid-term rental strategy (considering I live out of state)? Any advice is much needed and highly appreciated.

Thank you!

[Brendan Taylor]

Quote from @Rereloluwa Fatunmbi:

Quote from @Brendan Taylor:

What part of 44306? That zip code can vary greatly. 

 Homestead street

Thought this may be the case. I have a few small 3 bed ranches in 44306. They are go for $1100 but they are better located. Yours is in a worse area. My recommendation is try to find someone through AMHA (Section 8). List the house on AMHA's home search. Better shot at getting the rent you want and maybe a better quality tenant. 

Or drop the rent and wait out for a quality tenant but no matter what you do do not sacrifice tenant quality.