What’s wrong with my listing?

Question

Hi all! We just put our first rental up and I’ve gotten a lot of action but no bites!! 2 showings and one incomplete application in 4 weeks! I’m getting a little discouraged. I’ll leave the Cozy link which is the same wording I put on Facebook, Zillow and Craigslist. The pictures are from my phone and I will admit not the best. The town population is 2500 and there’s only one other 3br home for rent right now and a couple 2br’s. The first couple weeks (when I had the most traffic) I was asking $250 pet deposit and $25 extra a month, which I have since changed to $300 per pet deposit and no pet rent to see if that was just not working in this town. I know there is probably some small town gossip as the previous owner was trying to get it rented at $600 before we bought it and most of the changes we made are not esthetic. Ask me any details I might be missing and tell me what you think!!

https://home.cozy.co/apply/#!/658376

Dennis M. · Answer

this is why I don’t do rentals in small towns

Lucy DeMichele · Answer

There is nothing wrong with the house, but there is also no wow to the house. The kitchen cabinets should have been painted white.  Skip photos of the bathroom, it is not a selling feature unless it's amazing. Get rid of the short curtains and add long curtains in at least two rooms nothing cheap and use good heavy rods. I suggest cream curtains in the living room to downplay the yellow. Go to home goods and add a few designer pieces around the house all from the same style collection. Your colors for accents should be ultra pure white, and Denim Light by Bear for color pallet.  No furniture and amazing photos should move 2 month's minimum if done right.

Scott Mac · Answer

Hi Krystal,

Nice house, I like it. I like the garage feature too, and the interesting blue color makes it memorable.

If it were mine and I was having this problem, I'd go over to the local churches on Sundays and sit through the service and after church ask some of the local ladies if they know of anyone who is in the market to rent a house at the price your asking but with the 1st month free (no different than not renting  for a month, just get a 13 month lease, 1st month free) but tell them you can't hold that offer open for too long because you have bank loans on it (this is to get them quickly on the phone if they know someone).

Hopefully you can find some family with both working at very stable local jobs who will stay for a long time.

Maybe go over to that grain elevator in the background and ask around there too--you never know.

Good Luck!

Clinton Davis · Answer

Ad looks fine....but a town with only 2500 people....it's naturally going to take a little longer to get it rented out.  is the town near a larger city?  Maybe you could post it in the bigger city and you'll have more ad traffic and people might consider living there.  Also, i would try to get pics of the exterior when there is no snow on the roof.

Also, when i mention pet deposits i always use the word "refundable pet deposit".   as long as there is no damages done by the pet.  It's more of a mental thing....when you remind prospect that the deposit is refundable as long as their is no damages done by the pet.  Sometime people read $300 pet deposit and automatically assume the $300 is down the drain....plus if they think they can get that money back, they will do more things to try to make that happen....like be a more responsible pet owner.

You'll get it rented....just stick to your guns and don't get desperate and let anybody rent it....keep to your criteria.  good luck.

Kris L. · Answer

$750 for that place seems like a decent deal to me.  My inexperienced guess is that renting in Montana at this time of year is naturally slower than in the summer.

Alan Brown · Answer

@Krystal Watson  Yah this time of year is really bad in most places... I'm really trying to end my leases in summer to avoid the vacancies.  Most likely you just have to be patient, you'll get someone in there.

I would avoid mentioning pets until someone brings it up, and I also like the idea of just increasing the deposit for pets instead of a one time fee (if people pay it up front, they may feel like it buys them the right to let their pet run rampant!!)

Absolutely use the local paper...

Kelly N. · Answer

Krystal,

I think the local paper is an excellent idea, and if that doesn't pan out maybe try the neighboring towns' papers too.  It may be tougher to find a tenant in your area because it is a small town, but that also might mean that you will tend to have tenants that stay longer as well.

Good luck!

Nathan Gesner · Answer

I don't see anything wrong with the listing or the pictures. Your pictures are better than what most people post and the house looks nice.

I searched Zillow and your house is the only rental that comes up so it's impossible to tell if your price is high or low. It's still the slow time of year due to our beautiful winter weather so hang in there.

Justin Oliver · Answer

Hi Krystal,

Don't be discouraged. As a lot of people above have said, smaller populations sometimes take a little longer. I'm talking to you with my investor hat, and my broker hat on here...(I'm both!)

Consider freshening your pictures, they most certainly are not bad, but once the snow is gone, and the sun is out the place will look way more inviting. The rooms look really big, maybe even consider doing some digital staging? There are some incredible options that look really good (I use them sometimes in Million dollar homes for sale, especially on roof top decks in the winter....) and will help you sell the size of the place.

I agree with making sure folks know the pet deposit is refundable, and I also support you removing the pet rent. My guess, looking at the community, is that many people have pets. Keep the audience as wide as possible.

Can you stretch the coverage? Who is your market? Can you directly market to employers in the area, or even to companies in neighboring areas? Approach local schools and hospitals, and ask if you can post in staff rooms or common areas.

The most important comment I have, is be careful about the tenant you finally choose. Sometimes, when it takes a little longer to find a tenant, it can be tempting to take the first one that comes along.... do your due diligence, and don't be afraid to say no. A bad tenant can cost you more than vacancy..

Get creative with your advertising, don't rely just on the internet, freshen the presentation, and make a smart choice about the tenant when they come along. Stay the course, and you'll be just fine. Best of luck!!

J

Nicholas Osweiler · Answer

Hi @Krystal Watson, I noticed you changed the wording in your add on cozy about the pets. Not sure if you did a Rentometer analysis or not but it looks like they found an average rent of $838 (only based on two properties though). Its hard in a small town as you're right, there is a lot of gossip and its hard to get away from that idea of price gouging. Hang in there though and push the rental to as many sights as you can. I'll give it a share on Facebook if you'd like?

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