Low Interest in Rental Property

[Bobby Vernazza]

Hey Everyone, I have been working on rehabbing a duplex for the past few months.  I have finally got it all done and cleaned up.  One side is a 2/1 and the other is a 3/1.  I put both sides up on craigslist and got a ton of hits on the 2 bed but not much on the 3 bed.  This is my first time renting so I am learning as I go.  The 2 bed rented out pretty quick however, I still have the 3 bed up on craigslist with barely any hits.  I have been using Smart Move for my credit/background checks and it seems that many of the applicants do not accept my invitation.  Is this normal?  In addition, I have the 3 bed listed at 1300 in Corvallis, OR which I thought was a very reasonable price for this location in town.  I am a little hesitant to put a "For Rent" sign out front because I am then advertising that the place is vacant and don't want any trouble.  Are there any other websites or places that people advertise their property?  Do you think that I should lower the price $100 or so?  I know that if I wait another month or so, more students will be looking for housing, but that would mean more money out the window for me.  In addition if a student was interested but couldn't start the lease until July 1st, would it be a good idea to secure them and have them pay 50% of the total rent until July 1st?  That way they have a place secured and I will have at least a little cash flow going into my pocket.  Any insight on renting a property would be greatly appreciated.  Thank you.

[Bobby Vernazza]

@Paul Ronto Thanks for the heads up about the software, I will definitely check that out. That’s a good idea about going back to the 2 bedroom applicants. I may not get the price that I am asking for but it is better than getting nothing. I am just a little nervous about having this place vacant for so long. I guess it is better to wait for the right tenant rather than pick someone on impulse and have them screw me over later.