All Forum Posts by: Kevin Zmick

Thanks everyone once again for the feedback. I have decided to work with a listing agent as I really need to get someone in here. Price will be reduced to 1800 for the time being, which is competitive it seems with nearby properties based on the time of year.

Fingers crossed!

Deeply and truly appreciate everyone stepping in to provide advice. I definitely am leaning toward the first application being the one for me, and I appreciate the advice to make sure it is a good tenant in addition to just being a flesh and bones human who (might) pay me the rent on time.

One of the advices I read above was to be a bit less discerning perhaps and get someone in the door for 6 months at a reduced rate, and then find my golden tenant in the summer. I think I will take both of these directives and try to find a happy medium.

As far as photos and advertising, I'm going to make some tweaks to the ad, and I have many friends who are in film who could hook me up with some better photos, or at least the camera equipment I need to do it myself.

I have a showing tomorrow, and in the meantime I'll work on a plan for my next move and will post an update as things progress.

Thanks again!

Hey All! New forum member here.

Long story short, I ended up through circumstances deciding this was a good time for me to buy a live-in two flat, which I mention because it is not a cash-positive investment for me. I'm happy with my purchase but am having a very hard time finding a tenant for the vacant unit. I've lived in the city for over 10 years and have been in a lot of apartments, and I can't see what it is about the unit that could be giving me so much trouble. Newer appliances, free nice laundry, 2nd floor, yard space, storage, clean bathroom, included heat, installed window A/C.

Appraisal suggested the unit was worth 2,300 a month, which I felt was a bit high, so I listed it for $2,150 with no move in fee and a 2k deposit. No takers after 1 month (September) on the market. Lowered the price to $2,050, more interest, but no takers for a Nov 1 move in. As of yesterday, I listed at 1995 with half off first month for a Nov 1 move-in. 

I can afford to have the unit empty, but obviously don't want to do that, and am at a loss around what I should do going forward. I'm stressing because I wasn't anticipating this and am not excited about the prospect of paying 2k more than I was expecting when my mortgage payments kick in next month.

I'll be searching the forum for answers as well, but since I am kinda desperate at the moment, I thought I would go straight to the source for advice. Any strategies for enticing clients? How to find the right price?

Thanks in advance!

PS My realtor did me a solid and listed the place on that network for free and isn't taking a commission, but as a trade off I'm kinda on my own as far as finding someone when leads come in.