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I have a townhome (2bd/2bath-900$) near University area (north charlotte, about 4-5 miles from UNC). Townhome is vacant for past two months. I have given it to a property management company to find tenants, so far only one showing.
Not sure what's going and how to get some tenants. Please help.
I am so sorry to hear you haven't been able to get it rented.
Is there anything - in your mind - that is keeping it from being grabbed up? Anything around it that gives the location a bad rep? Is the interior spiffed up?
Is it a place where students would usually have rented?
Have you used this property management company before?
This does seem surprising . . . maybe your rent is too LOW!!!! Sounds crazy but sometimes people feel like higher rent, better location.
...near University area (north charlotte, about 4-5 miles from UNC).
4-5 miles is really not "near"... at least not for undergrads.
If you've been advertising it this way that may be a factor in the lack of success.
BTW you **really** don't want undergrads as tenants.
Quote:
Not sure what's going and how to get some tenants.
Do some research on what your competing with... then lower the rate.
$900 + utilities split by two is at the upper limit of affordable for sharing a small TH.
Focus on grad students, junior faculty and support staff.
(if you can't find one of the thousands of people relocating who have cash and jobs)
I am so sorry to hear you haven't been able to get it rented.
Is there anything - in your mind - that is keeping it from being grabbed up? Anything around it that gives the location a bad rep? Is the interior spiffed up?
Is it a place where students would usually have rented?
Have you used this property management company before?
This does seem surprising . . . maybe your rent is too LOW!!!! Sounds crazy but sometimes people feel like higher rent, better location.
Neighbourhood is decent and peaceful. I don't see students in the division, it's mostly families. Curb appeal is good. I got the entire house painted and steam cleaned carpet and also installed a washer/dryer. Initially I put for $1000, then brought down to 900$ as it's not getting rented.
4-5 miles is really not "near"... at least not for undergrads.
If you've been advertising it this way that may be a factor in the lack of success.
BTW you **really** don't want undergrads as tenants.
Do some research on what your competing with... then lower the rate.
$900 + utilities split by two is at the upper limit of affordable for sharing a small TH.
Focus on grad students, junior faculty and support staff.
(if you can't find one of the thousands of people relocating who have cash and jobs)
Thanks for inputs. As I mentioned in reply to Anifani's post, I put it for $1000 and brought down to $900. Neighbourhood has families (next but next home is occupied by teacher, so it's decent place)
Neighbourhood is decent and peaceful. I don't see students in the division, it's mostly families. Curb appeal is good. I got the entire house painted and steam cleaned carpet and also installed a washer/dryer. Initially I put for $1000, then brought down to 900$ as it's not getting rented.
Have you checked with anyone else who is renting there and asked how much they are paying?
I am glad you don't have a bunch of students! I honestly think that is in your favor, unless (as Rational said) you can get someone older and more mature, or faculty.
Gosh, with a washer and dryer - that would definitely be very enticing to me if I were renting. That saves money monthly right there for a renter.
Are there a lot of TH for rent or unoccupied in that complex?
Where exactly is this townhome? Are you asking for 1 year contract and/or security deposit?
Where did you advertise?
I have lived in rental homes; I found it via craigslist. I found that the homes that had agents were not easily accessible due to time constraints in showing times.
Have you checked with anyone else who is renting there and asked how much they are paying?
I am glad you don't have a bunch of students! I honestly think that is in your favor, unless (as Rational said) you can get someone older and more mature, or faculty.
Gosh, with a washer and dryer - that would definitely be very enticing to me if I were renting. That saves money monthly right there for a renter.
Are there a lot of TH for rent or unoccupied in that complex?
I found that one TH went for 950$, so I put for 1000$ with Washer/Dryer, but as it's not getting rented I brought down to 900$ recently as I'm ending up paying mortgage, hoa, utilities etc.
Except my TH there was only one that was vacant, which seems to rented out now.
Where exactly is this townhome? Are you asking for 1 year contract and/or security deposit?
Where did you advertise?
I have lived in rental homes; I found it via craigslist. I found that the homes that had agents were not easily accessible due to time constraints in showing times.
This is in Berkshire subdivision, yes asking for 1 yr contract. It's advertised on MLS, craigslist etc. I didn't do it myself, I have a property mgmt company doing it for me.
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