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Updated about 6 years ago on . Most recent reply

User Stats

241
Posts
141
Votes
Pete M.
  • Financial Advisor
  • Issaquah, WA
141
Votes |
241
Posts

Vacancy dragging out - what are we missing?

Pete M.
  • Financial Advisor
  • Issaquah, WA
Posted

We have a duplex in the Cayce area that's been completely vacant for a couple months now.  We handed the property over to a PM, and while she's had showings, virtually none of those are being converted to applications (though the viewers are taking the actual form and seem to have positive things to say).  We started at $700/unit, but have since dropped to $650, and are even considering waiving the application fee for those who are ultimately accepted.  These are 3/1 units, though on the smaller end from a sq ft perspective.  Units have had some light rehab (paint, flooring in some rooms, countertops replaced).

Looking for any insights on what we might be missing... I know it's hard to say for sure without more details, and I know we're getting into the slow season for moves.

Thanks.

Most Popular Reply

User Stats

636
Posts
313
Votes
Andrew R. Lucas
  • Investor
  • Columbia, SC
313
Votes |
636
Posts
Andrew R. Lucas
  • Investor
  • Columbia, SC
Replied

@Pete M.  My opinion:  The rent is fine if not low.  We are renting a 3/1 sfh for 950 on Northland.  Street is better but not that much better.  Your property manager does not have your properties on their website or on their facebook...  I do see it on Zillow but your market is not looking at zillow for a rental.  Cantey Company handles my properties.  Check them out.  I don't think your property is the problem.  

You may also consider listing just 1 unit at a time.  people like what other people have.  When they see both units vacant they may wonder whats wrong with it. 

  • Andrew R. Lucas

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