Trouble Finding Renters for Brand New Apartment

[Tyler Puzio]

I have 2 apartments available in the same building. One that was completely renovated and one that we spruced up and renovated the bathrooms. Both are listed for market rent and are in a great area near bus stops and the train station. I've been creative with the marketing and have went to facebook, craigslist, and the MLS. We haven't been getting a lot of bites. Any suggestions? Thanks.

[Donna M.]

Try zillow rental manager app.  Zilllow can also give you a Zestimate on the rental price and compare similar recent rentals in the area on Realtor.com  You may not be at market price. 

[Maurice D.]

Also rentometer.  check to make sure you have not overpriced the units

[Eliott Elias]

Be patient, consider a price drop if you think it's overpriced. Get some feedback from realtors who have toured your property 

[Jake Handler]

I'm guessing you have professional pictures taken and published?  Besides that, I think there's room to be hopeful when a new month begins in a few days, because that will open up a whole new set of renters who may realize their current lease is expiring soon.

[Kevin Liu]

Pricing, description and photos are great things to change up once in a while. Depending on what sites you are using, some listings can go stale and not get views. Try taking down the listing for a week then try posting again, or another website all together! Good luck.

[Lisa Wright]

Make sure you have signs up front.  

You can waive the app fee to bring more in too.

Apartments.com has consistently bought in the most leads.  

They do offer a lot and in the end you don't have vacant's sitting.  

[Mary Smith]

I would suggest using some of the listing syndication sites as well, so that your listings are more widely published. Apartments.com or Zumper would be great options. 

A great tip would be to find a free property management software that offers listings for free, it will make it much easier to post and edit your listings too!

[Drew Sygit]

Use a syndication site like Rentlinx to get on as many websites as possible.

Also, obtain & analyze your metrics to determine where activity is lowest: webviews, inquiries, showinds scheduled, actual showings and applications.

Then figure out how to boost the low metric.

[Sebastian Hernandez]

did you get professional pictures taken?

[Eunice Villarroel]

I agree with most of the posts here you should increase advertising and marketing for the buildings but you should also consider incentivizing renters with higher credit by lowering move-in costs. Like maybe have them pay only first month and deposit rather than first month, last month, and deposit

[Dena Puliatti]

Make sure your advertisement is syndicated.  Also, you may consider a move-in special.  Something flashy like half off of first month's rent usually does the trick.  Also, as a lot of the BP people here will testify, the rental market is weird.  Sometimes, we will sign 5 leases in a week, and then none for another week and a half.  I've talked to lots of investors who are worried about seasons affecting rentability, but that is not usually the case.