All Forum Posts by: Nithya D.

I bought a house SAn Antonio.Its a brand new community with lot of investor homes.My rental is through a property management company.I have reduced rent 3 times .My zillow contact is 43 totally but only 2 showings so far.My PM suggests to reduce further.I wont have any cash flow with that low rent.what do you suggest.I want to rent it out asap.

I’m on SA. Which part of town? I’d undercut the area by $50-$100 to get demand going.

I have added my listing above , I have reduced my rent to 1750 . It’s in the South east
part .

0 Votes

San Antonio, Texas

Quote from @Nithya D.:

Quote from @Richard Advani:

Quote from @Nithya D.:

Unfortunately as others have stated it is better to take a reduction in rent vs. staying vacant. Every vacant month amounts to $150+- a month less in rent for the year so consider making a considerable reduction. Where did you get your initial estimated rent amount when you calculated your estimated cash flow and return?

My realtor estimated 1 $ per square ft and the property manager initially estimated 1995 as well . My friends property rented out for 1895 2months before with 300 less sqft . So I stuck to the rent .

@Greg M. Thank you for taking the time to write the long post .Truth sucks.I have reduced the rent to 1750 to see if my house picks up.I will see how it does in the next week or so.The fees which you referred to is collected by the property management company and I couldnt control that .I thought it would be easy to maintain the property through a property management company.All the property managers around SA charge the same which i cross verified.

But it proves otherwise .They never mentioned about these fees when I signed up or neither was it in the contract .I know the pictures dont have the rooms labeled.But there is a virtual tour with all the rooms.

I will make the changes that I can possibly make.The builder didnt offfer any other upgrades.The house was fixed price with all the interiors same in the whole neighbourhood.I couldnt add or change anything.

0 Votes

San Antonio, Texas

Quote from @Nithya D.:

Quote from @Richard Advani:

Quote from @Nithya D.:

My realtor estimated 1 $ per square ft and the property manager initially estimated 1995 as well . My friends property rented out for 1895 2months before with 300 less sqft . So I stuck to the rent .

0 Votes

San Antonio, Texas

Quote from @Richard Advani:

Quote from @Nithya D.:

0 Votes

San Antonio, Texas

Quote from @David Lambert:

@Nithya D. This is just a first impression. I think your PM is right and you need to lower your price. What you are asking is not in line with comparable properties and there are a lot of comparable properties in your area. Basically there are plenty of other options to choose from and they are cheaper than yours. Property looks great though.

Ok , But I thought those houses users smaller compared to mine . I

0 Votes

San Antonio, Texas