Vacancy Duration...and ways to remedy

[Chad Hotovec]

It is true that 2016 is my first year of investing, however i feel like I've been in the business for years.  After purchasing my first two properties this year I'm having trouble getting my second rented.  So far it's been on the market for 7 weeks with little to no bites.  We've dropped the price twice, to the bottom end of the rent range for our sized house.  Current price is $1,275 / month for 4 bed 2 bath in Kansas City MO. 

The house is newly remodeled and located on a large corner lot.  I'm scratching my head wondering what other levers i have to pull to get someone in there.  I've got a property manager who has the listing on every site available, but still nothing.  

Should i start to worry?  Does this sound average?  Any thoughts or comments would be appreciated. 

[Brandon Holley]

Have you evaluated your competition? What else is for rent in the neighborhood, what's the rent in comparison, what arethe amenities of the house comparable to your competition? Possibly start advertising that it's a 6-month lease with bonuses included, 1 month rent discounts, big TV giveaway with successful tenant placement? Possibly an expiring additional bonus to the PM if it's rented out by the 1st?