Need help filling vacancies

I have a property in Texas with a on site manager that is...lets just say not very motivated. Im out of state and want this building filled...she states she is trying but watches Oprah all day. I am condiering a change but she is great with the property and tenants. HOW do I get to 100% ? Thius is a great building but my 1bedrooms are always going vacant. Rent is low, no deposit free incentives...what the heck else do I need to DO to get folks to lease.
Scott

Edited: 06/26/2010 at 05:18AM

Joshua Dorkin

BiggerPockets Founder · Denver, Colorado

Donor Pro

11,044 posts
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Jun 08 '08, 10:32 AM

Scott - It sounds like your manager isn't as great as you think. If she's sitting around watching Oprah instead of hustling to get the property filled, it is probably time to let her go. If your prices are wrong, then they should know that and help you adjust. If the place is out of shape, then they should help get it back to renting condition.

I wouldn't expect someone to get a vacancy filled immediately, but if someone is doing the job, then you shouldn't have the worries that you currently have.

I've been through what you're going through and it is VERY frustrating. This is why I advise people to avoid long-distance investing like the plague.

Let us know if you have any more thoughts/questions.

Edited: 06/26/2010 at 05:18AM

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Northshore Beachbum

Property Manager · Honolulu, HI

426 posts
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Jun 08 '08, 10:34 PM

How is the site manager handling inquiries? Is your marketing effective at bringing in prospects? Are the units being shown adequately prepared? What is being done to retain good tenants? Are service requests and other issues handled promptly?

Often, site managers ARE the source of your problems. Since they live there, they make friends with some tenants, enemies of others...basic personality issues. You lose the " business" context, and they tend not to treat all fairly and equally. They can become territorial, and sometimes treat prospects as an interruption of their work...rather than the source of their paycheck! They are frequently poor time managers, and have difficulty prioritizing effectively. As a result, they can become overwhelmed with the amount of work and time pressures of a large property.

Finally, there is always the question of honesty. Checks and balances are very difficult with an on-site manager. Do you KNOW your units are actually vacant?

Edited: 06/26/2010 at 05:18AM

Jason Hanson

Real Estate Coach · Oakton, Virginia

696 posts
5 awards
50 influence

Jun 10 '08, 07:33 PM

I would start interviewing new property managers. I would let them know what you expect up front and that you don't take any B.S.

Also, as you know you get what you pay for and to be careful of the property managers who are cheap.

Just like all things in life, you will have to sift through many managers until you find the right one.

Edited: 06/26/2010 at 05:19AM

Michael Shadow

Multi-family Investor · Bellefonte, Pennsylvania

1,042 posts
9 awards
49 influence

Jun 10 '08, 08:46 PM

Check out
www.irem.org

They are the organization that oversees the cream of the crop property managers.

Edited: 06/26/2010 at 05:19AM