Leasing Ups and Downs

[Stephen E.]

So I have been trying to lease two properties. Great success on one, just leased to a long term tenant for $100 extra each month over the last tenant's rent. The other property is not going so well. I have had many showings, it is just that no one connected. I had one applicant who had an account with a former landlord sent to collections (!), then two applicants who had great credit but then decided on something cheaper. I had been asking for $40 more than the last tenant ($1149 vs $1109) on a two bed townhouse in a nice area. No one has taken it and I have been at it since late March. Price is now cut to $1119 and I have two new would be tenants for showings, both of whom detail their having large (80lb+) dogs. I would not normally pursue them but my wife suggests we should take a look. I am concerned about damage, she is concerned about revenue. Our current tenants are breaking a lease and they move out in June; we have been paid up until June 30. If there is vacancy beyond this I can go after them in small claims. But they gave notice in March and we could go for a while at this rate with no tenant. I have cut price and I have upped advertising. Any other suggestions? Should I be looking at tenants no matter what size of hound they want to bring in? The unit is really nice, freshly painted, new carpets, new appliances. It is not a matter of condition, and price is now only nominally above the last tenant's rent. I would like someone who looks after it and does not wear it out. Advice welcomed.

[Account Closed]

Offer a move in special like $500 off the first-month rent.

Joe Gore