I signed up with a property manager to lease and manage my single family rental and it has been almost 5 months and still no renter. This is a very reputable property manager in my area (several people recommended them). I have asked them if there is anything I can do to help get it rented and they keep telling me that it is a great house and they are confident that it is priced correctly. They have already dropped the price by $75/month. From what they say, they are showing the house 3-4 times a week but nobody has put in an application. They even told me that houses in this price range are the easiest to rent back when I signed the contract. I have an investor friend that owns three similar houses on the same street and he has never had any trouble renting them. Is this common? Are they not doing their job or does this actually happen a lot? Do I have a crappy house? Can I get out of this contract? What can I do? Thanks.
How are they advertising the property? Do you feel that this vacancy is market related or just a failure of the property manager to get a tenant? If you want to get out of the property management agreement, What does your contract state? Do you have the ability to terminate the agreement? This might tell you what your possibilities are. Best of luck to you
What property manager is your friend using? If it is a different one, then change to them.
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