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Updated over 6 years ago,

User Stats

19
Posts
2
Votes
Carl Fordyce
  • Investor
  • Mastic, NY
2
Votes |
19
Posts

Long vacancy issue with Pm

Carl Fordyce
  • Investor
  • Mastic, NY
Posted

Need some advice bigger pocket community about how to handle my vacancy problem .

 So Here is my situation I got 7 units Between 2 buildings the 1st I bought last year was a 4 unit and was 50% occupied When I bought it I fixed it up and With the assistance of A property management company that I was using we were able to fill the vacancies really quickly every time somebody moved out of that 1st Building We were able to find someone really quickly  I bought my 2nd building which was a 3 unit A year later and this time using the same property management as the  the 1st Building  the 2nd Building Is in a better area of townWhere rents a higher and prices are Rising I closed on the 2nd building at the the end of April I had to do some Repairs and started to show the 1st apartment in June for rent we've had multiple showings and multiple applications and none of the Applicants seem to qualify as far as passing the screening I've lowered the Rent in hope of causing a buzz and be able to get more applicants to hopefully find the right One As  of now I still have 3 vacant units in this building I feel like I'm at a crossroads because I don't wanna flip this building I wanna keep it and at the same time I have a really good relationship with the owner of the PM Company as a new investor hes helped me tremendously but as of August if it's not rented I will have 90 days Vacancy For this entire building I've consider looking at other Pm's but I don't want to jump the gun Any advice on how I should tackle this issue

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