Longest you've gone with an empty property (for rentals)

[John Collins]

Curious, and at what price point? My highest rent property has been on the market for a while and even though I've dropped the price below market, people just haven't been coming to see it this time of year. The agents who've seen it say it's great value and has been done really nice (it's not the state or design of the place that's preventing people from moving in). 

What steps have you taken to get people in to view it, and to rent it? How much below market are you willing to go, is it worth it if it's a bare minimum positive cash flow? 

[Will Gaston]

@John Collins I've had student rentals in the $1500 to $3000 price points that have gone vacant for 12 months. I learned the hard (and expensive) way just how important timing is in that market. One huge shift I've made in leasing is recognizing that it might not be just "one" thing that is keeping your property vacant. It could be many small things. They will add up. Things I like ask myself when I have a looming vacancy:

-Is it priced too high?

-Is it hard to find a tenant at this time of year? (Oct-April is virtually impossible in my market)

-Are the pictures good enough?

-Am I providing enough information in the listing?

-Is my manager being aggressive about showing it? (Wasted leads are a huge issue in PM as far as I'm concerned)

Hope this helps.