Am I advertising my rental incorrectly? #frustrated

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Am I advertising my rental incorrectly? #frustrated

Andrew K.
Rental Property Investor · Philadelphia, PA · Member since 2016 · 82 posts · 22 votes

My rental has been listed since December and I have received only a few leads that could be construed as serious. I've listed on Zillow and Cozy both of which spread the listing to their affiliated sites. I have received only a few leads up until last week. I responded to most of the leads saying I could show them the listing on X,Y,Z dates if they were still interested. Several times I responded within an hour of getting the lead from whichever website they found it on it. Most of the time I never hear back. One person wanted to know if he and his 5 to 6 school buddies could look at the 2/1 SFH. I basically told him that just wasn't going to work and was probably not legal. I digress.

This will be my first time going through the process of finding a renter.  Is this experience typical?  I realize we're in the winter months and I expected the market to be slow as I assumed people don't buy/rent as much in the winter.  This last week I seem to have bene receiving a larger quantity of leads.  One had set up an appointment and then backed out saying their plans had changed and weren't looking anymore.  The others have yet to respond.

Am I doing something wrong?  Are renters just clicking 'I'm interested' on every listing they come across?

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Kyle MccawBusiness Member
Property Manager · Keller, TX · Member since 2011 · 1k+ posts · 1k+ votes
9y

Few pointers:

1) Have a google number for all leads to call. This way you know when a call is a potential tentant.

2) Move fast. Answer every call. It is unrealistic but answer as much as you can.

3) Have your voicemail explain the property, price, qualifications, etc.

4) I do lots of pics and a video tour. Be ready to send them a link to the pics and video. Use Dropbox, Box, YouTube or similar.

5) Be ready to show the property ASAP at the time the tenant wants. Tenants are less likely to show up for an appointment if they have to sleep between their call and the showing.

6) Look into Rently. Once you have multiple properties, this will be a game changer and can solve SOOO many issues. http://use.rently.com/

7) Lastly you can ask a property manager if they will lease it up for you.

McCaw Property Management4.4902 Reviews
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  • Kyle MccawBusiness Member
    Property Manager · Keller, TX · Member since 2011 · 1k+ posts · 1k+ votes
    9y

    Few pointers:

    1) Have a google number for all leads to call. This way you know when a call is a potential tentant.

    2) Move fast. Answer every call. It is unrealistic but answer as much as you can.

    3) Have your voicemail explain the property, price, qualifications, etc.

    4) I do lots of pics and a video tour. Be ready to send them a link to the pics and video. Use Dropbox, Box, YouTube or similar.

    5) Be ready to show the property ASAP at the time the tenant wants. Tenants are less likely to show up for an appointment if they have to sleep between their call and the showing.

    6) Look into Rently. Once you have multiple properties, this will be a game changer and can solve SOOO many issues. http://use.rently.com/

    7) Lastly you can ask a property manager if they will lease it up for you.

    McCaw Property Management4.4902 Reviews
    WebsiteView Page
    4Reply
  • Eassa Ayoub
    Lender · Drexel Hill, PA · Member since 2017 · 11 posts · 2 votes
    9y

    A good REALTOR would have a wide network of people. What area are you in. If your by delco I may have someone for you to talk to. Keep in mind realtors will probably charge first months rent. 

    0Reply
  • Chris T.
    Investor · Downers Grove, IL · Member since 2015 · 1k+ posts · 955 votes
    9y

    @Andrew K.

    Share your zillow listing here so we can give you some suggestions. 

    It was slow for me in the first 3 weeks while using CL / Zillow / Zumper to advertise. Then I used a flat fee MLS listing and I had 4 applications in a week.

    Better to pay 1/2 month of rent + flat fee then to go vacant for another month. 

    2Reply
  • Jon Sanborn
    Real Estate Agent · Philadelphia, PA · Member since 2015 · 180 posts · 69 votes
    9y

    @Andrew K. Where is your rental located? That may be your answer. 

    Like you said, it is the slower season. I know someone who has a beautiful 3 bed, 3 bath in Francisville and it sat vacant for almost 2 months before they found tenants. 

    Do you think you're overpriced?  

    0Reply
  • Andrew K.
    OP
    Rental Property Investor · Philadelphia, PA · Member since 2016 · 82 posts · 22 votes
    9y

    I have put several pictures on the listings.  No videos though.

    I do have a Google number on the listings but nobody besides other listing websites have called it.  An actual agent called it once because she had a client looking in the area but at the time I kind of brushed her off since it was Day 2 of the listing and she was asking for 50% of the first month.  Maybe that was stupid of me.

    The listing specifically mentions credit and background check, who pays for which utilities. However it's evident nobody reads the listing based on the responses so far.  I suppose I should have the property ready to show at a moments notice.

    I think I'm listing at a competitive price.

    0Reply
  • Andrew K.
    OP
    Rental Property Investor · Philadelphia, PA · Member since 2016 · 82 posts · 22 votes
    9y

    @Jon Sanborn @Chris T.  Rental is located in West Conshohocken, PA.  I think my price is competitive however there is quite the range of available rentals nearby.  My price on my 100+ Year old twin (Renovated in the last 15 years) is about the same as one of the nice new condos nearby. Similar SQFT too.  However I have a full unfinished basement and a quieter street in my opinion.  Central AC (I haven't seen many of the older rentals with that). I don't have the stainless steel / granite package that people ogle over but it's not a slummy property in my opinion.  I based my price on what my neighbors are charging and my property is better maintained yet they have renters (moved in last Fall)


    Not sure I'm comfortable yet with placing the Zillow link here.  Possibly in private message.  Call me paranoid. :)

    Thanks

    0Reply
  • Steve Babiak
    Real Estate Investor · Audubon, PA · Member since 2009 · 13k+ posts · 8k+ votes
    9y

    So you have a house, not an apartment or condo, for rent. And two bedrooms, so your target is going to be two roommates or parent(s) and child.

    Does your ad mention that it is  in the Upper Merion school district, and that schools are good?

    Does your ad mention proximity to Schuylkill Expressway, PA Turnpike, Blue Route, King of Prussia Mall? Maybe even Plymouth Meeting Mall?

    In another month or so, interest should be picking up or there is something wrong with how you are advertising.

    2Reply
  • Michael Perymon
    Investor · Conshohocken, PA · Member since 2015 · 8 posts · 1 vote
    9y
    Most of the people renting in Conshohocken are interested in more of the cosmetic upgrades ex: new stainless appliances, master bathrooms, granite countertops, etc.. Are you comparing your rental comps to other personally managed SFR comps in the area? Are you priced on the higher, mid or lower end? Do you have anything that other units might not, like off street parking or a larger backyard for entertaining? Who are you trying to rent to ex: college kids, small family, newly employed in the area? Feel free to PM me if you want a second set of eyes.
    1Reply
  • Michael Campbell
    Flipper/Rehabber · Philadelphia, PA · Member since 2010 · 151 posts · 71 votes
    9y

    @Andrew K.

    There are some really good recommendations here, specifically from @Steve Babiak and @Michael Perymon.

    You definitely want to highlight the benefits of the area like Steve mentioned.  Keep in mind that not everyone is familiar with the area so they may not know anything about the school districts, nearby public transportation, or nearby amenities.

    And if your property is the one I'm thinking it is, I think it could probably use some cosmetic upgrading like Michael mentioned.

    Just my two cents.

    0Reply
  • Account Closed
    Investor · Charlotte, NC · Member since 2016 · 374 posts · 189 votes
    9y

    I have 7 rentals and I have never "showed" a rental to anyone.  I have electronic locks and let the potential renter go through at their leisure.  You can put in one of those deer cams if you want a bit of extra protection or to see what they say while there.  Do you have a sign in the front yard?  How about some pointer signs from the main street?  Do you have a Craigslist ad?  Between signs and CL, I rarely have an issue getting people into my homes.

    0Reply
  • Andrew K.
    OP
    Rental Property Investor · Philadelphia, PA · Member since 2016 · 82 posts · 22 votes
    9y

    @Account Closed  it's an interesting concept allowing people to view your units on their own.  I'm not comfortable with the idea yet.

    I have a Craiglist ad.  Street signs aren't that useful given the unit is a bit off the beaten path traffic wise.  

    @Steve Babiak  Yes a house but it is small.  Small front and backyard.  I don't see a family moving in and historically families haven't lived in the houses on my street that are rented.  Not that should stop anyone but it's not exactly the atmosphere to set up a swing set and BBQ pit with seating. In my opinion.

    0Reply
  • Lee S.
    Northern, CA · Member since 2014 · 674 posts · 444 votes
    9y

    I recently rented one of my houses and initially I wasn't getting many calls.  I also had it listed on zillow and cozy along with craigslist, or so I thought.  

    Turned out my craigslist ad didn't post correctly due to my error, as soon as I fixed that my phone and email blew up and I had a long line of qualified renters.

    I did have the advantage that we are very short on rentals and mine was freshly rehabbed.

    Moral of the story, I think more people still look at craigslist.

    0Reply
  • Steve Babiak
    Real Estate Investor · Audubon, PA · Member since 2009 · 13k+ posts · 8k+ votes
    9y
    Originally posted by @Lee S.:

    ...

    Moral of the story, I think more people still look at craigslist.

    My most recent vacancies were in the fall, and I had very few possibilities contact me from my Craigslist ads. I did get some, so I know the ads weren't blocked. But upon talking to the people at showings, they were avoiding the Craigslist ads because of too many scammers posting there. And I have even heard from investors who stopped using Craigslist because they did not want their ads' photos hijacked by scammers; one guy did not even have a CL ad but the scammers hijacked the photos from his ad elsewhere and made their own scam CL ad!

    So, YMMV as they say ...

    0Reply
  • Steve Babiak
    Real Estate Investor · Audubon, PA · Member since 2009 · 13k+ posts · 8k+ votes
    9y
    Originally posted by @Andrew K.:

    @Account Closed  ...

    I have a Craiglist ad.  Street signs aren't that useful given the unit is a bit off the beaten path traffic wise.  

    @Steve Babiak  Yes a house but it is small.  Small front and backyard.  I don't see a family moving in and historically families haven't lived in the houses on my street that are rented.  Not that should stop anyone but it's not exactly the atmosphere to set up a swing set and BBQ pit with seating. In my opinion.

    First, you really should give the nearest cross streets, because the online ads will then show approximate location on the online map.

    Second, does your ad mention that there is a yard? One of the vacancies I recently filled, the tenants liked that there was outdoor space even though it was small.

    Next, I agree you will not get a large family in there; my earlier post guessed at two occupants, maybe three tops. You have to understand what that target is composed of - roommates, parent(s) and child(ren), maybe just a couple using the second bedroom for a den or office. And that yard is a great place for a grill - some people just need to be told it's there.

    Next, given your rehab was a number of years back, and that you have a yard, you might want to advertise as pet friendly. This will attract the broadest number of applicants. One of my recent vacancies was filled by a tenant without any pets, but they liked that I was pet friendly and willing to consider allowing a pet - because they want to get one of course.

    1Reply
  • Account Closed
    Investor · Charlotte, NC · Member since 2016 · 374 posts · 189 votes
    9y

    @Lee S. - We put our most recent property on CL at 11 AM and by 9 PM we had over 30 calls and 3 applications.  Price it right.  Have a good product and I don't see how you can not rent it out.  

    0Reply
  • Bill Howlett
    Real Estate Agent · Conshohocken, PA · Member since 2012 · 1 post · 2 votes
    9y

    @Andrew K. Have you rented the property yet?  I live and work in Conshy (full disclosure I am a realtor) but I also own several rental properties from Bridgeport to Manayunk.  In the 19428 zip, if you are on the market more than a couple to three weeks, you are either not priced correctly, or have not advertised it properly, even over the winter months.  Demand for rental housing in our area is extremely high and dynamic.    Too many investors get caught up pricing and trying to squeeze every penny out of a property, when in reality, getting it rented is more important.  For example, if you are trying to squeeze an extra 100/month at 1500, and the rent really should be 1400/month, even if you get the 1500, but it takes an additional month to get it rented, it will take over a year to recoup that month of vacancy.  Don't try to price yourself against something new, if you do not offer the same finishes.  Think like a tenant, not the owner.

    2Reply
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