Originally posted by @Clay Lehman:
@Adriana Diaz - the primary levers are price and marketing. If a property is priced right and marketed well it should have no issue renting. I follow each stage of the marketing pipeline to try and diagnose the problem. Are people viewing the property but not inquiring? Are they inquiring but not scheduling showings? Showings but no applications? If they are not viewing the listing then that means either there is no demand in the area (which is hard to overcome) or the pricing is not in line with the area. If they are inquiring but not scheduling a showing there may be something in the details of the property or requirements that is scaring them off. If they are viewing the property but not applying then the property is not what they were expecting based on the price. If you are working with a property manager hopefully they can advise as to what the issue is with the property. On the marketing side, it is getting super competitive in terms of the types of marketing being used. We are using 360 tours, floor plans and professional pics to attract views from tenant. I hope this is helpful.
Clay,
Since we’re out of state we don’t know exactly what people are saying about the property. The agent mentioned people like the property, however, he said to lower the rent and we did. I fid research and next door neighbor property is also vacant. I hope is not the area because we cant control that. In fact our agent told us yesterday there are 2 families interested in the property and will submit their application today. We’re hoping the deal gors trough. We have 2 other properties and they were rented out rapidly.
Thank you for your feedback I appreciate it!
Addie-
