Is 3 month turnover beteen tenants normal

[Arnold B. Guerrero]

Hey all,

I have and issue filling in my properties. I have (1) 4/plex, (1) single family, and (3) 2/plex in Milwaukee WI, and in all three types we are on average three to four months turnover between tenants. We are using a property manager with plenty of experience because we are not local and it seems like they are doing everything in there power to advertise or promote them. I am wondering if it’s just this market, property manager, or my requirements for tenant approval. Has anybody experienced something similar or is it just me.

The area are in “C” & “B” class neighborhoods.

Thank you in advance for any advice.

[Marcus Auerbach]

@Arnold B. Guerrero no, 3 months is not normal in Milwaukee. We fill our own vacancies usually within a week or two. If it takes 3 weeks, it is only because I was busy and did not respond to inquiries the right way.

You have 3 elements that determine if a listing is attractive: condition, price and marketing. Everyone will tell you just drop the price, but that is often not the right medicine.

I have seen properties from OOS investors before, that could not get rented and when I went there it was totally obvious, why nobody wants to live there! My dog would have been disgusted! We had to do substantial work before they could be sold. Are you sure about the condition of your properties?

You probably know the old joke: how to run from a bear? You don't have to run faster than the bear, you just have to run faster than your friend.

Well, you are the friend, who does not make it.

There are probably more than 10,000 leases signed in the greater Milwaukee market every month (my guesstimate based on population and home ownership rates), so if yours don't get rented, you have to ask yourself why not mine?