Need Serious Help in Renting Out a House

[Emily Allen]

I have serious trouble in renting out a house. I'll be as detailed as I can because I am in serious need of good advice. Is reducing the rent the only way to find a tenant??

It's in one of the growing areas close to downtown Atlanta. We have a couple of rentals in that neighborhood but each street is different. For this house, the street is almost OK. There are renovations and new constructions on the street and around the area.

The big "but" is that there are two old houses right in front of ours that are on the other side of the street. Those residents have been there for a long time. Both of them have large families. On a regular day, children run on the street and play. Parents/Grandparents will sit outside of front yard and watch. That's their lifestyle and there is nothing

wrong with it. And I've talked to the neighbors and they are reasonable people. But the problem is that I have big trouble finding tenants... I had a dozen of showings in the last month. The only way I've been advertising is to post on craigslits. Because the house is completely renovated, not surprisingly many people are attracted by the pictures. But after they come, almost everyone asks if the neighborhood is safe.

I'm wondering if I'm advertising the house too high, so the type of people comfortable with that rent range are not comfortable with this type of neighborhood?

Should I keep dropping the rent? Should I look into other ways of advertising? I've never used an agent since craigslit has been very efficient for me. But I'm not sure in this case

how to reach my desired audience. Any advice will be highly appreciated! And thanks for reading. 

[Mike Wood]

@Emily Allen The fact your prospective tenants are asking about the area being safe, leads me to believe that you are likely overpriced and getting the wrong prospective tenants.

Is this the first time you have tried renting this property? If not, what was the previous rent and how much different is it to what your asking now?

I would recommend reviewing rental listings directly around your property on Craigslist, Zillow, Postlets, Realtor to see if you are asking market rate rent.  If you are asking more, then its likely part of your problem.

Lowering the rent will help, but be careful with screening.  As your rent get lower, you risk attracting tenants that will struggle to be able to pay.

There are typically renters for all price points, you just have to find what price point matches your property.  The neighborhood will likely drive your rent price, not so much the condition of the property.