Hard Time to rent my property
Most Popular Reply
My first impression is there are problems with the listing and the unit itself.
Every single picture except the last four have a giant MYND MANAGEMENT watermark in the center. Are they really that worried about someone stealing their pictures? This watermark needs to be MUCH smaller and located in an area that isn't blocking the main feature of the picture.
The pictures themselves I do not like. Every one was taken at an odd angle. They are distorted and quite honestly, they kind of make me feel dizzy when looking at them.
There are multiple pictures of what appears to be the same room, but I'm not sure. The pictures need to be labeled. Master Bedroom, Bedroom #2, Powder Room, etc.
The layout pics are interesting. I love that they say there is a back patio. That 2'x2' concrete slab outside the door is not a patio. That's an insult. And the front door having a porch is a stretch.
Did the painters run out of paint before getting to the garage? It's a shame to have a house that looks completely done and fail to spend a few dollars to make something look much nicer. Maybe you're going to be a cheap landlord is my first thought.
The yard looks to be a good size, but with the funky pictures I can't tell. The renter has kids, let them know how big the yard is.
The sod job in the back looks like it was done very poorly. I can tell they're different heights from the pics. Makes me wonder what other poor quality things are in the house.
You have dirt, two trees, and some debris in the back yard. At the very least the debris could have been picked up before the pictures.
The aerial picture shows that the neighborhood is still being build with lots of just started homes around it. This says dirt, noise, and danger to parents.
Where exactly is the home? San Antonio is close in size to Los Angeles. If I advertised a home as being in Los Angeles and gave an address, no one would have any idea where it was without taking the time to look up the address. That's true even if I mention it is close to a golf course. Give me a better indication of where it is. Something like, "located in the historic XYZ district, walking distance from the Alamo, and just 3 miles from the San Antonio International Airport".
Is there any front yard? I don't see any pics of it if there is one. The further set back from the street, the more palatable to a person with young children.
I know it's not something that you can change, but having 3 bedrooms share one bathroom is not a feature. Right now it reads to me as 3 bedroom and an office and these are renting much lower in price.
This is a house to be rented to a family. Schools, restaurants, and the golf course are just minutes away from this place you state. The elementary, middle, and high schools that service this location show being rated 2/10. No one moves here for the schools. The neighborhood has a 0/100 walkability score. Governor Abbott has a higher walkability score than this. Transit score of 0/100. Bike score of 22/100. I honestly don't believe that I've ever seen such low scores. Absolute killers for a family rental.
Your rental terms are a complete turnoff. Maybe they are standard in your area, but in mine they'd be a deal killer. You want a $49 application fee per adult + a $199 move-in fee + a 1% monthly admin fee + $199 pet move-in fee + pet rent + deposit + HOA fees + renters insurance. You talk about fines and federal occupancy guidelines and make it clear if there is an issue you're not fixing it before move-in. The listing ends with "We look forward to connecting with you!". Well, how about your eyes connect with my middle finger, because there is no way in hell I'd ever contact you with this type listing.
On top of this, there are a bunch of homes for rent in your area that look near identical to yours. I'm guessing that you didn't purchase any upgrades when they built the home. Nothing sets it apart. And you have carpet in kids bedrooms!
You may get $1895 for it if you wait long enough, but if it were mine, I'd move it to $1700 and get rid of the $500 move-in bonus and all the application / move-in / pet fees. Get it rented and let the area settle and you can increase the rent at renewal.
41 Replies
- Member since 2022 路 41 posts 路 20 votes4y
Can you post the link to your zillow listing? People will be able to offer more relevant advice if they have more information about the property.
The market rent is the market rent. It doesn't care if you have free cash flow or not.
It's very possible that based on the purchase price, interest rate, down payment, and market rent, that this unit will have zero likelihood of free cash flowing anytime in the foreseeable future. It's my understanding that San Antonio is an appreciation play market.
- Rental Property Investor 路 San Antonio, TX (Lender in TX and SC) 路 Member since 2020 路 196 posts 路 253 votes4y
San Antonio has a strong demand for rentals right now. How is the PM marketing the home? Is it listed anywhere besides Zillow (MLS, etc)?
I agree with @David Lambert 鈥f you can post the Zillow link we can provide more viable perspectives on neighborhood, presentation, pricing, etc.
- Real Estate Broker 路 Cody, WY 路 Member since 2010 路 28k+ posts 路 41k+ votes4y
$0 cash flow, or even negative cash flow of $200, is better than sitting on a vacant house where you are losing everything and paying utilities.
finding a renter is very simple process. You advertise the property at a rate the market supports and people rent it. If the rate is too high, they won't rent it. Your property is priced higher than the market will support based on level of supply and demand, so you need to lower the rent to entice people to take your property over other options
The DIY Landlord Book4.7247 Reviews ok,Please see the link below and let me know what you think
- Member since 2022 路 41 posts 路 20 votes4y
@Nithya D. This is just a first impression. I think your PM is right and you need to lower your price. What you are asking is not in line with comparable properties and there are a lot of comparable properties in your area. Basically there are plenty of other options to choose from and they are cheaper than yours. Property looks great though.
- Ok , But I thought those houses users smaller compared to mine . I
Quote from @David Lambert:
@Nithya D. This is just a first impression. I think your PM is right and you need to lower your price. What you are asking is not in line with comparable properties and there are a lot of comparable properties in your area. Basically there are plenty of other options to choose from and they are cheaper than yours. Property looks great though.
- 4yBenjamin AakerPro MemberRental Property Investor 路 Brandon, SD 路 Member since 2015 路 1k+ posts 路 1k+ votes
Take a look at the showings. You've had only 2. You should first determine why so few showings. Is it because the price is too high, or is there something else from the listing causing you problems? Is the location a problem? Are the beds/baths significantly different from the rest of the area? Lack of showings either means there is some aspect of the listing people aren't interested in or that you haven't advertised broadly enough. Are you listing in other areas? Are you not doing some concessions that all the other properties in the area are doing?
How long have you been marketing this? It might be too early to make a drastic move. That being said, a month of vacancy is worth a lot of rent reduction when you work out the numbers.
- Member since 2022 路 41 posts 路 20 votes4yThere are some 4 bedrooms listed $100 less.
Quote from @Nithya D.:
Ok , But I thought those houses users smaller compared to mine . IQuote from @David Lambert:
@Nithya D. This is just a first impression. I think your PM is right and you need to lower your price. What you are asking is not in line with comparable properties and there are a lot of comparable properties in your area. Basically there are plenty of other options to choose from and they are cheaper than yours. Property looks great though.
There are also a lot of 3 bedrooms listed for $500 less monthly. Thats a big jump for a single additional bedroom. - 4yRichard AdvaniPro MemberDeveloper 路 Oklahoma City 路 Member since 2022 路 26 posts 路 15 votes
Quote from @Nithya D.:
I bought a house SAn Antonio.Its a brand new community with lot of investor homes.My rental is through a property management company.I have reduced rent 3 times .My zillow contact is 43 totally but only 2 showings so far.My PM suggests to reduce further.I wont have any cash flow with that low rent.what do you suggest.I want to rent it out asap.
Unfortunately as others have stated it is better to take a reduction in rent vs. staying vacant. Every vacant month amounts to $150+- a month less in rent for the year so consider making a considerable reduction. Where did you get your initial estimated rent amount when you calculated your estimated cash flow and return?
Quote from @Richard Advani:
Quote from @Nithya D.:
I bought a house SAn Antonio.Its a brand new community with lot of investor homes.My rental is through a property management company.I have reduced rent 3 times .My zillow contact is 43 totally but only 2 showings so far.My PM suggests to reduce further.I wont have any cash flow with that low rent.what do you suggest.I want to rent it out asap.
Unfortunately as others have stated it is better to take a reduction in rent vs. staying vacant. Every vacant month amounts to $150+- a month less in rent for the year so consider making a considerable reduction. Where did you get your initial estimated rent amount when you calculated your estimated cash flow and return?
- My realtor estimated 1 $ per square ft and the property manager initially estimated 1995 as well . My friends property rented out for 1895 2months before with 300 less sqft . So I stuck to the rent .
Quote from @Nithya D.:
Quote from @Richard Advani:
Quote from @Nithya D.:
I bought a house SAn Antonio.Its a brand new community with lot of investor homes.My rental is through a property management company.I have reduced rent 3 times .My zillow contact is 43 totally but only 2 showings so far.My PM suggests to reduce further.I wont have any cash flow with that low rent.what do you suggest.I want to rent it out asap.
Unfortunately as others have stated it is better to take a reduction in rent vs. staying vacant. Every vacant month amounts to $150+- a month less in rent for the year so consider making a considerable reduction. Where did you get your initial estimated rent amount when you calculated your estimated cash flow and return?
My first impression is there are problems with the listing and the unit itself.
Every single picture except the last four have a giant MYND MANAGEMENT watermark in the center. Are they really that worried about someone stealing their pictures? This watermark needs to be MUCH smaller and located in an area that isn't blocking the main feature of the picture.
The pictures themselves I do not like. Every one was taken at an odd angle. They are distorted and quite honestly, they kind of make me feel dizzy when looking at them.
There are multiple pictures of what appears to be the same room, but I'm not sure. The pictures need to be labeled. Master Bedroom, Bedroom #2, Powder Room, etc.
The layout pics are interesting. I love that they say there is a back patio. That 2'x2' concrete slab outside the door is not a patio. That's an insult. And the front door having a porch is a stretch.
Did the painters run out of paint before getting to the garage? It's a shame to have a house that looks completely done and fail to spend a few dollars to make something look much nicer. Maybe you're going to be a cheap landlord is my first thought.
The yard looks to be a good size, but with the funky pictures I can't tell. The renter has kids, let them know how big the yard is.
The sod job in the back looks like it was done very poorly. I can tell they're different heights from the pics. Makes me wonder what other poor quality things are in the house.
You have dirt, two trees, and some debris in the back yard. At the very least the debris could have been picked up before the pictures.
The aerial picture shows that the neighborhood is still being build with lots of just started homes around it. This says dirt, noise, and danger to parents.
Where exactly is the home? San Antonio is close in size to Los Angeles. If I advertised a home as being in Los Angeles and gave an address, no one would have any idea where it was without taking the time to look up the address. That's true even if I mention it is close to a golf course. Give me a better indication of where it is. Something like, "located in the historic XYZ district, walking distance from the Alamo, and just 3 miles from the San Antonio International Airport".
Is there any front yard? I don't see any pics of it if there is one. The further set back from the street, the more palatable to a person with young children.
I know it's not something that you can change, but having 3 bedrooms share one bathroom is not a feature. Right now it reads to me as 3 bedroom and an office and these are renting much lower in price.
This is a house to be rented to a family. Schools, restaurants, and the golf course are just minutes away from this place you state. The elementary, middle, and high schools that service this location show being rated 2/10. No one moves here for the schools. The neighborhood has a 0/100 walkability score. Governor Abbott has a higher walkability score than this. Transit score of 0/100. Bike score of 22/100. I honestly don't believe that I've ever seen such low scores. Absolute killers for a family rental.
Your rental terms are a complete turnoff. Maybe they are standard in your area, but in mine they'd be a deal killer. You want a $49 application fee per adult + a $199 move-in fee + a 1% monthly admin fee + $199 pet move-in fee + pet rent + deposit + HOA fees + renters insurance. You talk about fines and federal occupancy guidelines and make it clear if there is an issue you're not fixing it before move-in. The listing ends with "We look forward to connecting with you!". Well, how about your eyes connect with my middle finger, because there is no way in hell I'd ever contact you with this type listing.
On top of this, there are a bunch of homes for rent in your area that look near identical to yours. I'm guessing that you didn't purchase any upgrades when they built the home. Nothing sets it apart. And you have carpet in kids bedrooms!
You may get $1895 for it if you wait long enough, but if it were mine, I'd move it to $1700 and get rid of the $500 move-in bonus and all the application / move-in / pet fees. Get it rented and let the area settle and you can increase the rent at renewal.
- 4yColleen F.Pro MemberInvestor 路 Narragansett, RI 路 Member since 2013 路 8k+ posts 路 4k+ votes
@Nithya D. Listen to @Greg M. he has a good evaluation for you. I would also add there are no window coverings and no color in the pictures. Pull the ad. Clean it up and add some light decorations especially so you can identify there are multiple baths. Add Towel bars etc. Consider shelfs in the half bath. Retake the pictures and relist. Currently, they currently look like an advertisement for your management co. You could do better with a phone. Consider making a video tour so that people can see the flow and get a feel for some of those rooms. Everything is so white and brown. I am not local so I won't comment on price.
Also you have pool pictures but I don't see comments on a community pool, maybe I missed it. Is it common to sod half the yard in TX?
- 4yRichard AdvaniPro MemberDeveloper 路 Oklahoma City 路 Member since 2022 路 26 posts 路 15 votes
Quote from @Greg M.:
My first impression is there are problems with the listing and the unit itself.
Every single picture except the last four have a giant MYND MANAGEMENT watermark in the center. Are they really that worried about someone stealing their pictures? This watermark needs to be MUCH smaller and located in an area that isn't blocking the main feature of the picture.
The pictures themselves I do not like. Every one was taken at an odd angle. They are distorted and quite honestly, they kind of make me feel dizzy when looking at them.
There are multiple pictures of what appears to be the same room, but I'm not sure. The pictures need to be labeled. Master Bedroom, Bedroom #2, Powder Room, etc.
The layout pics are interesting. I love that they say there is a back patio. That 2'x2' concrete slab outside the door is not a patio. That's an insult. And the front door having a porch is a stretch.
Did the painters run out of paint before getting to the garage? It's a shame to have a house that looks completely done and fail to spend a few dollars to make something look much nicer. Maybe you're going to be a cheap landlord is my first thought.
The yard looks to be a good size, but with the funky pictures I can't tell. The renter has kids, let them know how big the yard is.
The sod job in the back looks like it was done very poorly. I can tell they're different heights from the pics. Makes me wonder what other poor quality things are in the house.
You have dirt, two trees, and some debris in the back yard. At the very least the debris could have been picked up before the pictures.
The aerial picture shows that the neighborhood is still being build with lots of just started homes around it. This says dirt, noise, and danger to parents.
Where exactly is the home? San Antonio is close in size to Los Angeles. If I advertised a home as being in Los Angeles and gave an address, no one would have any idea where it was without taking the time to look up the address. That's true even if I mention it is close to a golf course. Give me a better indication of where it is. Something like, "located in the historic XYZ district, walking distance from the Alamo, and just 3 miles from the San Antonio International Airport".
Is there any front yard? I don't see any pics of it if there is one. The further set back from the street, the more palatable to a person with young children.
I know it's not something that you can change, but having 3 bedrooms share one bathroom is not a feature. Right now it reads to me as 3 bedroom and an office and these are renting much lower in price.
This is a house to be rented to a family. Schools, restaurants, and the golf course are just minutes away from this place you state. The elementary, middle, and high schools that service this location show being rated 2/10. No one moves here for the schools. The neighborhood has a 0/100 walkability score. Governor Abbott has a higher walkability score than this. Transit score of 0/100. Bike score of 22/100. I honestly don't believe that I've ever seen such low scores. Absolute killers for a family rental.
Your rental terms are a complete turnoff. Maybe they are standard in your area, but in mine they'd be a deal killer. You want a $49 application fee per adult + a $199 move-in fee + a 1% monthly admin fee + $199 pet move-in fee + pet rent + deposit + HOA fees + renters insurance. You talk about fines and federal occupancy guidelines and make it clear if there is an issue you're not fixing it before move-in. The listing ends with "We look forward to connecting with you!". Well, how about your eyes connect with my middle finger, because there is no way in hell I'd ever contact you with this type listing.
On top of this, there are a bunch of homes for rent in your area that look near identical to yours. I'm guessing that you didn't purchase any upgrades when they built the home. Nothing sets it apart. And you have carpet in kids bedrooms!
You may get $1895 for it if you wait long enough, but if it were mine, I'd move it to $1700 and get rid of the $500 move-in bonus and all the application / move-in / pet fees. Get it rented and let the area settle and you can increase the rent at renewal.
Great Response!!
- 4yBruce WoodruffPro MemberContractor/Investor/Consultant 路 San Diego / Phoenix 路 Member since 2021 路 12k+ posts 路 15k+ votes
@Greg M. You da man....!
Quote from @Nithya D.:
My realtor estimated 1 $ per square ft and the property manager initially estimated 1995 as well . My friends property rented out for 1895 2months before with 300 less sqft . So I stuck to the rent .Quote from @Nithya D.:
Quote from @Richard Advani:
Quote from @Nithya D.:
I bought a house SAn Antonio.Its a brand new community with lot of investor homes.My rental is through a property management company.I have reduced rent 3 times .My zillow contact is 43 totally but only 2 showings so far.My PM suggests to reduce further.I wont have any cash flow with that low rent.what do you suggest.I want to rent it out asap.
Unfortunately as others have stated it is better to take a reduction in rent vs. staying vacant. Every vacant month amounts to $150+- a month less in rent for the year so consider making a considerable reduction. Where did you get your initial estimated rent amount when you calculated your estimated cash flow and return?
@Greg M. Thank you for taking the time to write the long post .Truth sucks.I have reduced the rent to 1750 to see if my house picks up.I will see how it does in the next week or so.The fees which you referred to is collected by the property management company and I couldnt control that .I thought it would be easy to maintain the property through a property management company.All the property managers around SA charge the same which i cross verified.
But it proves otherwise .They never mentioned about these fees when I signed up or neither was it in the contract .I know the pictures dont have the rooms labeled.But there is a virtual tour with all the rooms.
I will make the changes that I can possibly make.The builder didnt offfer any other upgrades.The house was fixed price with all the interiors same in the whole neighbourhood.I couldnt add or change anything.
- Rental Property Investor 路 San Antonio, TX (Lender in TX and SC) 路 Member since 2020 路 196 posts 路 253 votes4y
@Greg M. makes some great points, especially in regards to location and schools. The property is located in the southeast region of San Antonio, and it's on the exterior of that region (outside Loop 410). That area hasn't yet developed and grown in the same way that much of the northern half of the city has, and the level of infrastructure investment has lagged behind.
This has led to 3 disadvantages you're working against:
1. Many of the larger employers in San Antonio are located elsewhere in the city...your property is 20+ minutes to Fort Sam & Toyota, as well as 30+ minutes to Randolph, Lackland, USAA, UTSA, & the Medical Center.
2. Many of the stores that most people desire to live in proximity to (HEB, Wal-Mart/Target, Costco, etc) haven't yet expanded to the southeast beyond Loop 410 toward this neighborhood.
3. The schools that service this area are below-average (ratings of 2/10 or 3/10) compared to other areas of San Antonio.
If the rent comparables that your property manager is based solely on square footage or bedrooms/bathrooms, but isn't considering the specific area of the city, that could be a factor.
- Rental Property Investor 路 Beavercreek OH 路 Member since 2018 路 422 posts 路 970 votes4y
Quote from @Nithya D.:
I bought a house SAn Antonio.Its a brand new community with lot of investor homes.My rental is through a property management company.I have reduced rent 3 times .My zillow contact is 43 totally but only 2 showings so far.My PM suggests to reduce further.I wont have any cash flow with that low rent.what do you suggest.I want to rent it out asap.
Nithya,
First: fire the management company. Their Zillow listing looks amateurish and reads like the back of a speeding ticket. Way too much legalese. Talk about off putting.
Second: Stage this sucker. The home looks like an empty carton of vanilla ice cream. Virtual staging is affordable if you don't want to bother with actual furniture.
Just my humble opinion after many years of experience and 150 doors.
Respectfully, Gary
- Rock Star Extraordinaire 路 Northeast, TN 路 Member since 2015 路 10k+ posts 路 16k+ votes4y
Quote from @Greg M.:
My first impression is there are problems with the listing and the unit itself.
Every single picture except the last four have a giant MYND MANAGEMENT watermark in the center. Are they really that worried about someone stealing their pictures? This watermark needs to be MUCH smaller and located in an area that isn't blocking the main feature of the picture.
The pictures themselves I do not like. Every one was taken at an odd angle. They are distorted and quite honestly, they kind of make me feel dizzy when looking at them.
There are multiple pictures of what appears to be the same room, but I'm not sure. The pictures need to be labeled. Master Bedroom, Bedroom #2, Powder Room, etc.
The layout pics are interesting. I love that they say there is a back patio. That 2'x2' concrete slab outside the door is not a patio. That's an insult. And the front door having a porch is a stretch.
Did the painters run out of paint before getting to the garage? It's a shame to have a house that looks completely done and fail to spend a few dollars to make something look much nicer. Maybe you're going to be a cheap landlord is my first thought.
The yard looks to be a good size, but with the funky pictures I can't tell. The renter has kids, let them know how big the yard is.
The sod job in the back looks like it was done very poorly. I can tell they're different heights from the pics. Makes me wonder what other poor quality things are in the house.
You have dirt, two trees, and some debris in the back yard. At the very least the debris could have been picked up before the pictures.
The aerial picture shows that the neighborhood is still being build with lots of just started homes around it. This says dirt, noise, and danger to parents.
Where exactly is the home? San Antonio is close in size to Los Angeles. If I advertised a home as being in Los Angeles and gave an address, no one would have any idea where it was without taking the time to look up the address. That's true even if I mention it is close to a golf course. Give me a better indication of where it is. Something like, "located in the historic XYZ district, walking distance from the Alamo, and just 3 miles from the San Antonio International Airport".
Is there any front yard? I don't see any pics of it if there is one. The further set back from the street, the more palatable to a person with young children.
I know it's not something that you can change, but having 3 bedrooms share one bathroom is not a feature. Right now it reads to me as 3 bedroom and an office and these are renting much lower in price.
This is a house to be rented to a family. Schools, restaurants, and the golf course are just minutes away from this place you state. The elementary, middle, and high schools that service this location show being rated 2/10. No one moves here for the schools. The neighborhood has a 0/100 walkability score. Governor Abbott has a higher walkability score than this. Transit score of 0/100. Bike score of 22/100. I honestly don't believe that I've ever seen such low scores. Absolute killers for a family rental.
Your rental terms are a complete turnoff. Maybe they are standard in your area, but in mine they'd be a deal killer. You want a $49 application fee per adult + a $199 move-in fee + a 1% monthly admin fee + $199 pet move-in fee + pet rent + deposit + HOA fees + renters insurance. You talk about fines and federal occupancy guidelines and make it clear if there is an issue you're not fixing it before move-in. The listing ends with "We look forward to connecting with you!". Well, how about your eyes connect with my middle finger, because there is no way in hell I'd ever contact you with this type listing.
On top of this, there are a bunch of homes for rent in your area that look near identical to yours. I'm guessing that you didn't purchase any upgrades when they built the home. Nothing sets it apart. And you have carpet in kids bedrooms!
You may get $1895 for it if you wait long enough, but if it were mine, I'd move it to $1700 and get rid of the $500 move-in bonus and all the application / move-in / pet fees. Get it rented and let the area settle and you can increase the rent at renewal.
馃ぃ馃ぃ馃ぃ on the "Governor Abbot walkability scale" - priceless!
Right on the money on everything. This is the post I probably would have written. Complete truth. Not at all impressed with your PM company. It's a lousy listing and the pictures suck. The stack of fees sound like total BS; if there are fees that an owner needs to absorb from the PM company, they just build them into the cost of the rent other than an application fee and a pet fee. Monthly admin fees, move in fees and the like are not anything anyone wants to hear. Frankly, you don't have any showings because your property is expensive and your PM sounds like the Gestapo.
Skyline Properties - Realtor 路 Hanover Twp, PA 路 Member since 2018 路 3k+ posts 路 3k+ votes4y
@Nithya D., a lot of good feedback here already.
One small suggestion. In order to convert more of the contacts into showings ask the PM to do an open house. More people may come that way?
Also is the PM doing pre-screening? That could be why so few showings. They may not want to take the time to do a showing until they KNOW the people are qualified. However, some qualified applicants may not want to go through the pre-screening process. So, it could be backfiring and also be one of the reasons for so few showings.
- 4yRonald RohdePro MemberAttorney 路 Dallas, TX 路 Member since 2016 路 5k+ posts 路 2k+ votes
Price. Thats the biggest, most important thing.
Once you're getting showings and traffic, then solicit feedback. If you listed it for $1,000 I guarantee no one will care about the photos, staging, yard, etc....
- 4yJay HinrichsBusiness MemberReal Estate Consultant 路 Summerlin, NV 路 Member since 2014 路 45k+ posts 路 66k+ votes
Quote from @Joel Allen:
@Greg M. makes some great points, especially in regards to location and schools. The property is located in the southeast region of San Antonio, and it's on the exterior of that region (outside Loop 410). That area hasn't yet developed and grown in the same way that much of the northern half of the city has, and the level of infrastructure investment has lagged behind.
This has led to 3 disadvantages you're working against:
1. Many of the larger employers in San Antonio are located elsewhere in the city...your property is 20+ minutes to Fort Sam & Toyota, as well as 30+ minutes to Randolph, Lackland, USAA, UTSA, & the Medical Center.
2. Many of the stores that most people desire to live in proximity to (HEB, Wal-Mart/Target, Costco, etc) haven't yet expanded to the southeast beyond Loop 410 toward this neighborhood.
3. The schools that service this area are below-average (ratings of 2/10 or 3/10) compared to other areas of San Antonio.
If the rent comparables that your property manager is based solely on square footage or bedrooms/bathrooms, but isn't considering the specific area of the city, that could be a factor.
rule number one in real estate is location location location.. Also I think its going to be very interesting to see how all these subdivisions of new builds that are being built for rental purposes are going to flush out. I mean there is a saturation point.. if you build too many in one development your going to have downward pressure on rental rates for sure. - Real Estate Investor 路 West Linn, OR 路 Member since 2017 路 134 posts 路 62 votes4y
Quote from @Ronald Rohde:
Price. Thats the biggest, most important thing.
Once you're getting showings and traffic, then solicit feedback. If you listed it for $1,000 I guarantee no one will care about the photos, staging, yard, etc....
Yup price will solve all of this! Personally self managing and even with the units we own that are being professionally managed, I don't like trying to really push and get the absolute maximum rent possible in the market. Unless there is a clear value add, adding a bedroom, building an ADU or something like that to increase the rent, list it at price that gets you lots of interest so you can select a highly qualified tenant with a great background. Plus if you are priced too high you deal with tenant turnover and nothing kills cashflow more then turnover. I will say its a red flag when a property management company charges your tenant a ton of additional fees and does not make that clear to you the owner. Good luck!
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