I have two apartment buildings in Connecticut with 8 units each (total of 16 units). The properties are approximately 30 miles apart and about a 90 minute drive from my home in New York City. I do not use a property manager for either property. Instead, I have a very trusted handyman who takes care of a lot of issues for me.
What he is not able to do, however, is fill vacancies. For the four years that I have been an owner in these markets, I've used a leasing agent who charges one month's rent as a commission (or 75% of one month's rent if there is no broker representing the tenant). Her basic role seems to be to list the vacancies on MLS and Craigslist.
For the prospects who come through the MLS, there is no work for my broker to do. She puts a lockbox on the door and the tenant rep shows the unit without my broker being there. Craigslist showings are more difficult, since you don't want to give the keys to random people and not be there when they're looking at the unit.
My question is whether there is a better/cheaper way to fill the vacancies. One idea that I've had is to get my real estate license in CT, so that I can list on MLS. For Craigslist showings, I could probably find somebody to do the showings for way less than the fees I'm currently paying. Thoughts? Other suggestions?
Thanks.
