Single Residential property not renting out during Fall-Winter seaso

[Shaozeng Zhang]

Hello:

I have a single residential property in Beaverton Oregon which has been rented in the past without problems. However, when the lease expired in late September this year, it hasn't been rented out for one and half month. There are very few applicants in the rental market this season. I noticed some nearby rental properties with similar rental price also have not bee rented out after 1-2 months. Please advice regarding the strategy to speed up the rental process. 

[Melissa Hartvigsen]

Hello!

I am also local to Beaverton and have units in Beaverton, Hillsboro, and Gresham. I posted a listing in the beginning of October in Hillsboro and had several leads.  I had several tours that same weekend and signed a lease right away. 

In addition to the tips mentioned above about price and photos, I would add the following:

1. Timing is key. Most renters look at the beginning of the month when they pay rent so there will be more activity at that time.

2. Response time is critical. How quickly does your PM call/text/email prospects?

3. Price is always a consideration, if you missed the good rental window for a larger house it will take longer to rent in the fall/winter.  Letting it sit for more than a month tells me that you and your PM are not aggressive enough with their price changes.  I usually list my rental, and if I don't have at least 10 leads a day, then I lower my price until I get the lead flow at that pace.

4. In addition to the suggestion for photos, get a professional floor plan and or a Zillow 3d tour. On Zillow they will boost your listing's SEO rankings if you use their floor plan and their tour. Local pro-photographers offer these packages along with photos and it is worth the money. As a realtor I typically pay $350 to $400 for 25 professional photos, the floor plan and the 3d-tour. 

If you would like more specific feedback, please share a link to the advertisement for your SFR.

Cheers,

Melissa