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Updated almost 6 years ago, 01/14/2019

User Stats

74
Posts
28
Votes
Chirag Shah
  • Investor
  • Austin, TX
28
Votes |
74
Posts

Rate my rental listing!

Chirag Shah
  • Investor
  • Austin, TX
Posted

Happy new year everyone!

I am in the process of finding a tenant for a unit within my duplex (currently house hacking it), and wanted to ask for the community's feedback on my listing and anything I can do to guarantee I find a tenant before I move. I have not gone through this process before as I inherited tenants in both my properties (duplex, fourplex), and fortunately, haven't had a need to evict and re-rent (though, they are not perfect).

I will break down my thinking to provide context in how I came to my rental listing and requested rent amount.

Listing Analysis:

  • Conducted an analysis using rentometer, the analysis considered properties within <3 mile radius, only duplex units, posted within the past 3 months. 
  • The average rents for comparable properties was $1,368
  • The average sq ft was ~1100
  • Most properties were 2/1's; most did not have a backyard
  • All properties had to mid-level rehab, some are very high-end and could be considered outliers
  • Analysis can be found at this spreadsheet

My Listing:

  • Rent: $1,375
  • Sq Ft: 948
  • Makeup: 2/2; very large backyard
  • Mid-high level rehab (stainless appliances, refinished cabinets and countertops, laminate throughout, updated fixtures)

Listing Channels:

  • My listing can be found  here on zillow.
  • It has been posted for 11 days
  • The channels:
    • Zillow
    • Realtor.com
    • Trulia
    • Hotpads
    • Apartments.com
    • Craigslist
    • Facebook
    • Forrent

Listing Performance:

  • 20+ leads on Facebook
    • 19+ - no responses to request for pre-screen call
    • 1 qualified - did not show up to showing time
  • 2 leads on Craiglist
    • 2 qualified - both interested, but did not meet timeline
  • 1 lead on realtor.com 
    • No response to request for pre-screen call
  • 8 views on zillow.com - ranking 2/8 in zip code
    • No applications yet

My questions:

  1. Should I take better photos? Based on my observations, I have more pictures than my competitors, but they are not the highest quality.
  2. Should I update my listing copy? I could write more, but I am aware people scan in the modern world, so not sure if that will help. 
  3. Are the holidays to blame? I posted this on the 22nd, right before the heart of the holidays, so that might be what is delaying interest.

All feedback is welcome!

Thanks in advance.  

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