Why can't I get a tenant?

Question

I've had my rental house listed for a month. So far, 5 people have eagerly inquired, and 3 have come to see it. I know someone will rent it at some point, but I'm frustrated at the lack of feedback...

The house was very clean and neat for showings. I sent a follow up email to those who saw it asking for feedback, if they were not interested in the house.

No one has replied, and I wonder if there is something so wrong they are afraid to tell me! Maybe my ad makes it sound better than it shows?

Any thoughts?

Answer 1

Offer a discount if rent is paid on time for a certain period of time 6 months to 1 year.

Is there enough storage space? if not maybe build a storage shed in back.

Does it have the extras--dishwasher, washer/dryer?

Check out the closest competition both homes, apartments, and condos.

If things get really tight consider doing a lease purchase. For tenants called rent to own. To just sell the property but gives you enough time and extra money until the market turns around.

Ultimately location and price are the main factors and then appearance.

Answer 2

Check out your competition.  Whenever I have rental units that sit for more than 14-21 days on the market, I take a good look at what else is on the market and what is renting.  Plus, I always ask what the good points and bad points of the unit were to prospective renters.  Sometimes when I've checked the competition, I find the rent is out of line with what is out there and other times, I find that other owners are offering incentives (i.e. no pet deposit, one month's free rent, cable, utilities and trash included.)

Answer 3

Is it a duplex or for sale??

I have 3 places that have been empty for at least 6 months because one is a duplex and the other 2 are for sale.

I have a couple other places that have been empty for a couple months because the rent is too high for what people can pay right now and the owner will not let me lower it.

If your rent is comperable for your area, you allow pets and if its neither of the above issues - then I don't know.  It just depends on the rental market in your area - talk to some local property managers, maybe they are having similar issues.

Answer 4

It sounds like even if the rent is not, in your opinion, too high, it may be too high for the people looking.  In other words, not a good value.

Maybe they don't like the neighborhood, or the street noise.

Answer 5

How is the price?

Answer 6

rent is too high.  Stop trying to pay your mortgage with the rent.   Especially with houses declining at record paces.

Answer 7

Here are a few things that stop me from taking places (when I go to look)

Many of these things may not apply to you, and for some of the pettier things, usually one thing doesn't kill the deal, but 2 things is usually enough

1. Cost is too high - Thats a given

2. Utilities are not included - People don't like to pay utilities extra because its such a guess at what they will have to pay

3. No phone/internet available or not included - Depending on the age you are looking to rent to, almost everyone needs internet

4. Bad location - Say you're downtown but far from a college, and students are looking to rent, they may be looking for something closer to the school and WILL take something farther away for the right price

5. Rooms are too small - I wouldnt take most of the apartments I saw because the rooms were tiny... I would be going from a bathroom I could run around in to one i couldn't stand in and close the door at the same time.

6. Windows are too small/too few/poor condition

7. Too far from public transportation - many people renting down own cars

8. No parking available - This stops anyone that has a car from living there

9. No pets are allowed - This stops anyone that has a pet from living there

10. Too many/not enough rooms - A couple wouldnt not want to move into a 6 bedroom unless the price was right, and a group of 4 cant move into 2 bedrooms

11. Area comes furnished - and the tenant already has their own furnature

12. Area does NOT come furnished - and the renter doesnt own any furnature

13. Tenant has to do their own yard work, such as moving lawns, shovelling snow, etc. Many people rent so they don't have to worry about these kinds of things

14. Can't hang things on walls - I know I couldn't live somewehre without things on my walls... I actually didn't look at one house because the lease was online and you couldn't have anything on the walls even if it was un-marking stick tack, and all furnature had to be 6 inches from the walls

15. No backyard - cant even have a barbecue.. no wehre to keep bikes, maybe they have a pet.. etc.

16. Tenant has to bring too many of their own things like curtains, microwave

17. House just generally does not smell/look good... I looked at a house that smelled like cats... and it killed the deal.

18. Stupid rules

19. Lease is too long, too short, etc. if it is near a school most people like sept - may (coming up on that time).. others will want a 1 year, others want 6 months or less, and some know they need to move shortly so they'd rather have no lease or a lease that is easy to get out of

20. Have to share with unknown parties - if you're renting room by room

21. Have to share the house - like its divided into apartments

22. Bad area - too many parties and they're quiet, too quiet and they're partiers...

23. Not enough storage/cupboard space, etc.

24. They just plain found something better.

I hope this helped.. If I knew more about your rental I could give you some more tips, things to look for, etc. Being a student I've been on rental - search 3 times now. Didn't like sharing a house with our landlord (even though it was 2 speperate apartments) we went on an apartment search, all were either in too bad of condition or too expensive, or one had TINY bathrooms.. like you had to stand in the tub or something to close the door... Tiny bedrooms, I wouldnt even be able to fit all my furnature in... Even things like it being non-smoking or smoking or electric heat instead of gas/forced air can be a deal breaker. Feel free to give me some details on the place/rules/location/price/things you want from a tennant and i can help you out, tell you wehre to look, maybe where to lighten up and allow thing... etc..

Good luck!

Answer 8

This question is very general, we would have to review quite a bit of information pertaining to this rental property.  What is the current avg. rent amount in your specific area, what is the property value, what is the houses condition, the economy, etc...

If you believe that this house is aggressively competitively priced for the market then it would be the condition, or your marketing efforts.  If you are asking for more than the avg. rental price you might have to make adjustments.  I personally recognize these are hard times and have had to get creative in my deals.  For example: I have given renters the option to lease for less money depending on shorter contracts.  If you are willing to sign a 6 month lease I will reduce your payment by x%.  This allows me to at least get a good portion of the bills paid and doesn't tie me in to a long term.  There is a way to find a balance till times get better.

Answer 9

You are probably charging too much rent and folks can find similar housing elsewhere for a lower price, or with utilities paid.  You may want to consider paying for some or all of the utilities.  It's a terrible economy we live in!

Answer 10

It could be a lot of different things, decor can be a major turn off for some people. People prefer plain carpets or wooden floors, plain netural colours and its an area where less is definaitly more! Maybe the price your asking is too much for the amount of space the house has or its lacking in the mod cons. I mean that in a non effensive way but when people rent a house they expect the mod cons and good decor. try asking a letting agent for a free evaluation of the property, see how much they think its worth and what you might want to concider changng to meet a wider group of people!