Too many rentals at the same time in the neighborhood

[Anand Narayanan]

Hello BPers - I recently closed an investment property (townhome) in a decent community. The builder delayed it by 3 months hence ended up in wintertime rental. It has been a struggle to find the renter with multiple competing units at the same time. As we try to make a short-term rental to get in summer cycles, there are numerous more units coming to be in the market for rentals. I don't know if there are any magic bullets at all other than duke it out as we go along.

If anyone has some ideas not to be in the rat race being available at the same time and driving rents down, please share. Sincerely appreciate your insights.

[Joe Villeneuve]

I've never seen an area where it was a good rental area, that had too many rentals.  If it's a good area, meaning high cash flow, it attracts both landlords and tenants, and the quantity of tenants willing to pay high enough rents to deliver the higher CF, is what makes it a good area to invest.