Difficult renting out townhouse in the winter

[Michael M.]

Dear all,

First-time poster here, but longtime reader who really appreciates the wisdom shared on this forum. We have been trying to rent out a townhouse in Northern Virginia  near DC by ourselves since November. Many showings but no bites. We listed it at $2300/month, and some neighbors even rented out theirs in the $2400s. We renovated the house and it's in excellent condition. We were wondering if it's because bad timing or something else. Would a property manager be doing anything diffidentLu -- in terms marketing not managing the house? We listed through Zillow Rental manager and CL. We live nearby and want to manage it ourselves. Any thoughts? Thanks in advance! Michael

[Karen F.]

I think it's time of year. Maybe also the turnover in administration, given your location? (I don't know your market.)

Consider offering 1st month free, first month half price, or just dropping rent -- having it vacant costs you $2300/mo, so dropping it $200 and getting it rented might be worth it. Consider making your new lease expire in the spring or summer (a 16 month lease, or 18 month lease) ... explaining that it will be better for both of you as far as them having greater choice -- and explain that's also a reason they're getting such a great deal on rent!

Good Luck!