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Updated about 12 years ago on . Most recent reply

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George P.
  • Property Manager
  • Livonia, MI
1,596
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critique my "for rent" listing, please

George P.
  • Property Manager
  • Livonia, MI
Posted

this house has been on the market for over a month now with no applications.

initial price was $1,050. 2 weeks later i got my realtor to list it with the MLS (she has done all other houses, but this one is on a main road, so i thought i was not going to have to use her).

now it's $995 and lots of people call, but no applications. i had one accepted, but she wanted to stay in the city where she lives now.

here's the CL listing - https://post.craigslist.org/manage/3651337126

and here's the website with a little more info - http://onpointrentals.com/index.php?p=1_13

negatives:
- main road (not like a highway, but a "mile road"
- shared driveway with neighbors
- one car garage
- bungalow (most people like ranches, i think)
- the other side of the street is the start of a "lower class" city, where rents are cheaper.

positives:

- newly updated (carpet, paint, doors, gutters, roof, etc)
-new kitchen
- 2 baths
- basement

let me know your thoughts...

Most Popular Reply

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Jon Holdman
  • Rental Property Investor
  • Mercer Island, WA
14,128
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22,059
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Jon Holdman
  • Rental Property Investor
  • Mercer Island, WA
ModeratorReplied

One think I like about yard signs is that I know the prospect has actually seen the place and the area. Otherwise people who are unfamiliar with the area can be put off by the area even if they like your property. Not much you can do about that.

Do you have it priced right? If its comparable to similar properties that are further away from the busy road, you will have a harder time getting a tenant. Have you surveyed other properties in the area? How does it compare?

What's the market like in this area? Do you see other rentals coming on the market and being rented? Perhaps what you're seeing is just typical for your market right now.

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