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Updated over 4 years ago,

User Stats

9
Posts
1
Votes
Jay E.
  • New to Real Estate
  • Miami, FL
1
Votes |
9
Posts

Is this enough foot traffic in a rental?

Jay E.
  • New to Real Estate
  • Miami, FL
Posted

Less than 2 weeks ago I posted a unit for rent in a class A/B highly desirable area in a HCOL city. I've gotten some traffic, not a ton, with maybe 8 messages and 4 showings. After the first week when there wasn't much activity, I dropped the price by a hundred & I now get about 1 inquiry per day to tour the place.

Everyone that has inquired or toured appear to be highly qualified as far as income at least, making about mid six figures (young families or attorneys at large law firms, etc). All have seemed like great people after meeting them and have that air of professionalism to them if that makes sense. 

However, no one has actually moved forward with an application & this worries me. How long have you found it usually takes to rent a unit out?

I worry maybe my property isn't up to par for this income level. While the place has been updated, other areas show their age, such as the older flooring and stairs, popcorn ceiling on the 2nd floor, etc.. It's too late now for me to change this stuff seeing as I want this rented before August. Obviously wish I could go back in time and do these. I don't even know if these things are a no go for prospective tenants, but I think about What I would look for if I was in their shoes & was looking. 

Am I right to be worried at this stage or does it sound like I'm on the right track with this amount of traffic?

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