Sticky Market- Potential Tenants keep flaking

[Justin Case]

My best unit is up for rent. And it usually has low vacancy.
It has been empty the past 1.5 months.

It has just been redone and when I first listed it I dropped the rent $300/month. If I lowered the rent $800 less I do not think it matters because people out there just want to see ALL the props available in this market.

Inside is new and way cleaner, nicer, better location and $300+w/s/g less than the competition.

I have spent tons of time showing it with only three interested parties. When it comes time to hand over deposit money they always flake. Some landlords in the area are asking for deposit at the same time the application is turned in.

The area is the most high demand area in the city.

I do not think many people are moving and they are looking just to look. I ask everyone who comes by if they been looking much and they ALL say they have looked at 30-40 props and that is all they been doing. I ask what they are looking for and they do not know..

I have reached out to property managers and other landlords in the area and they are experiencing the same things and say mine is a great deal.

What do I do? Lower my price even more?

I see it that the price is very low now compared to the competition.

I am getting frustrated.. any suggestions?

[Account Closed]

The world is full of tire kickers, spending their Sundays test driving cars they can't afford and looking at houses they can't afford.

They like to pretend until it comes time for the money. Then they have an excuse.

If they are looking at 30-40 properties, they are not looking for a place to rent. They are just on a cheap outing. Looking at houses costs less than going to the zoo.

You have to keep showing and keep smiling, because a genuine renter will come along eventually.