Trying to rent my townhouse has been a nightmare!! (apartment complex, rental market)

[himain]

I agree, do not lower your price. You will more than likely be sorry.

[shortyshaw84]

does anyone have suggestions on how he can rent it out?? I myself am not a landlord.. so I don't have any great ideas! Do any of you?? I think he could really use some assistance!

[brokensky]

Don't lower your price unless it is for someone you know or that is recommended to you (such as the teacher idea).

If you had a management company rent it for you, it would make things a lot easier, but they do get a cut of the rent.

[Oldsmobile]

Originally Posted by bcd1222

Due to the mortgage and HOA fees, my monthly price can't be lowered . . .

Shouldn't the rent reflect market conditions and not how much is owed?

Disclaimer: I have no knowledge of the rental market

[marvinnative]

Originally Posted by bcd1222

If your daughter is able to post or email an ad for me to some of the new teachers and someone responds, I would be happy to give a new teacher $200!!! Let me know.

LOL...if you can get someone to hire an entry-level teacher this year, she'd probably give you the $200! I'll mention it to her.

[running123]

I just took a look on Craigslist for what rental places are going for. Some great locations on there for less than what you have your's listed for unfortunately. The whole supply/demand thing is probably not in your favor right now. Like another poster said, you may be better off lowering amount to reflect the current market. Or you can continue to list it for a 1100 and wait for someone that is not as informed to bite.

[Robin2007]

Well...my friend is taking a 200 loss per month and she has a great young Teacher renting the place. If you make sure to do the appropriate credit checks I see nothing wrong with working with someone on a price...you may miss out of a great tenant if you do not...IMHO.

[bcd1222]

In regards to suggestions of lowering the monthly rent, I can't do that because I'm just covering the mortgage and HOA bills as it is. I'm asking $1,100 but my neighbors a year ago were getting $1,300 a month!!

I looked into a management company but they get you in the wallet big time and I can't afford to pay them 20% of the rent every month. I like being the landlord and working with the renters should a problem arise. Plus renters realize they are paying you each month, and less chance of them not paying because the see the mgmt. company as someone "that has enough money already."

I have always had great experience with my other rental property but the market has really taken a turn in this economy.

I am holding an open house this weekend on Saturday and Sunday from 10am to 3pm. I am keeping my fingers crossed and saying a few prayers!! I will include the link to my house's ad at the bottom of this email if someone would like more information. I have even uploaded a video tour!!

Thanks everyone for your thoughts and have a great weekend!

-Ben

[Nativechief]

I dont understand the "new teacher" stuff. We just had several hundred new teachers fired because we cant afford them. What new teachers are you talking about?The rent should be close to what other places near by rent for. Renters look for price. The market value of homes has dropped . Thats why people cant sell them and make money right now. Most homes that were bought 3 or 4 years ago are worth MUCH MUCH less now. The real estate hype is part of the problem.

[hotnikks]

Geez 1300 rental in charlotte! Well at least NC used to be inexpensive