Vacancies/Qualified tenants/Lower rent

[Shawn H.]

Is it taking longer to fill vacancies than a year ago? We have turned down a lot of non-qualified prospects and it seems 'normal' people are in short supply. We are in an area where trailers rent for $350-450, and 2 br houses rent for $350-450. These are the nothing special rentals and many run-down. We have a nice duplex, nice area, were previously getting $450. I've been told there aren't many rentals available in the area. We've been advertising/showing it for 2 weeks. Is the economy so bad that people will rent a run-down trailer, in a bad area, instead of a nice duplex for a $50+/- savings? We are considering lowering the rent.