Can't find tenant in San Antonio

[Joseph Weisenbloom]

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?

[Seth Teel]

I suspect the PM is not reaching the tenants s/he should. This area typically rents by word of mouth, Craigslist ads, or SAHA (if in the program). I centered my MLS search just South of Carillo Elementary and went out a 1 mile radius. MLS shows only two rented comps in the last year (1802 W. Mayfield 4 & 5) and only one currently listed for lease in that area (1802 W. Mayfield 3). When you have this few MLS listed properties for lease in a predominately rental area it means most tenants aren't using agents and/or apartment locators to find housing. My clients that rent property in this area post on Craigslist, Backpage, and other similar pages, put ads in the local Thrifty Nickel and church bulletins, and use bandit signs. Ask your PM what s/he is doing besides just plopping it on the MLS. Are they bi-lingual? You may need a PM that knows this area a little better.