Average Vacancy rate in Cleveland / Suburb market

[Zorawar Singh]

Hi i own a properties around Garfield heights / cleveland area. What is the average vacancy rate at a C class / C+ neighborhood? After turnover, it takes my property mgr 3-9 months to rent. Is that normal? For me a normal range is 1-2 months max. But i wanted to know from other investors or property managers in the Cleveland market area. 

[Michael Orlando]

@Zorawar Singh Hey! I'm a Clevelander myself and have some property in Maple Heights right near Garfield. It DOES NOT take us more than a week usually to get a good tenant in our property. I think it's ridiculous that it takes your PM company that long.. 

It's hard to say what the actual vacancy % is because it's dependent on so many factors, but what you're experience sounds unacceptable to me. Turnover shouldn't be more than a week or so assuming it's nothing major, and usually we get pretty eager tenants looking for our apartments.

What management company do you use currently? I can recommend one if you need. Happy to connect since we're both playing on the same field.