Lack of qualified applicants

[Kyla Meuer]

I’ve made my second RE investment and purchased a 3/1 duplex in West Allis Wisconsin and I am struggling to find qualified applicants. I’m self managing right now but considering a PM.  I’m advertising on Craigslist and Zillow. I have interest in units, I’ve shown the unit several times and recieved a 4 applications but none of them have met the income/credit requirements. Any thoughts on what else I can do to get units more attention and rented? Special offers or incentives? 

[Marcus Auerbach]

@Kyla Meuer I suspect your rent is too high compared to the condition or the perceived condition. PM me the Zillow link, I'll take a look. 

If you list the property for rent you should get at least 10 emails a day in the first few days, it will slow down after the first week. If you don't see that type of response you are second to your competition in either price or condition.

You can also tell if your candidates are luke warm or show strong interest. 

Remember, the property picks it's tenants, the best property on the market will attract the best tenants looking at the current time. Would you rent your duplex?

Interesting story from my first duplex: I had increased the rent to $800 and did not get the usual amount of interest, although I had central air, updated units and garage parking. So I reduced the rent to $750 and offered optional garage parking for $50. The response was emmidiate and People were happy to pay for the garage parking. Shocking what a difference the $50 made in the amount of interest I got..