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Updated over 1 year ago,
Can't find tenant in San Antonio
I have a property in southwest San Antonio near Lackland AFB that my property manager is having trouble getting rented for 4 months. Its a duplex with 1 bedroom units. We have lowered the rent twice and my PM claims they have gotten lots of calls but no applications so far. Whenever I ask him why its not rented yet he says that this is normal for this neighborhood.
The neighborhood isn't a warzone but I would classify it as a C neighborhood. All economic indicators point toward strong rental demand in San Antonio. My research shows vacancy rates around 10% for these types of properties.
My question is this normal for this area for a unit to sit vacant this long? Or is it time to fire my property manager?