Panic , Can't rent Townhome

[Joe Pitrolo]

I recently purchased a new home and renovated my 2 bed townhome in Morgantown WV, 5 minutes from the college. I added a 3rd bed and bath and the going rate is 1500 mo. This is close to the hospital and University. I have always rented properties for an average rent of $500 to $700 a month and renting such a high cost rental is new territory for me, so I placed the property with realtors to be on the MLS. In addition I have ran print adds and post on CL, even multiple adds. I've even placed fliers at the law and Med schools.The University has added a lot of new housing, so my understanding is the market is a bit saturated; however, I've seen houses close by rent out with no problem. The home was built in 2003 and is in excellent condition. I've tried lowering the rent to $1350. I almost had it rented for $1200 a month when it was a 2 bedroom.

At this point, it has been vacant for 8 month. I've also noticed that comparable homes on the MLS had an average listing of 150 days also. I'm paying 2 mortgages and losing big time, almost feel like I need to rent the place for $800 a month or try to sell.

  This is new territory for me and I've never had a unit vacant for more the 3 months.  Reading some old posts, I've even tried postlets.

[Lisa Hoover]

Sounds like your market is college students
... but for a quick tenant and guaranteed rent, check with the insurance agents in the area-- when insured homeowners have a fire or water damage ... the insurance co pays you directly , a HIGH rent --for many months till their house is rebuilt.
It's a good networking connection to make.

Zillow and Animoto work for me...
never had 1 day of vacancy in 14 years
(my properties all rent from $1800 to $2500 range).

I don't know how to contact you,

but you can pull up one of my rentals on zillow (it's rented)
8209 Raintree Lane, Charlotte NC.
and here is the video...

https://animoto.com/play/qx4EMcpwF2uEcEaxfSu03Q

took me 15 mins on the video... it's a one time thing really... when tenants have great looking furniture I add a few pics to add-- so you'll notice different decor throughout)
and I use the same music every time too.

What tenant can resist a heartwarming video with music...
( If your rental isn't so fabulous-- then add in photos of great places in the area!
I always say EVERY home has a story and its your job to find it, create it and share it!)
Retired now, but I used to sell over 100 props every year-- very busy, very fun.

Hang in there, ditch the realtor, put up GREAT PROFESSIONAL SIGNS and literature boxes
NEVER EVER GO PAST A MONTH without rent!!