Taking a while to find a tenant...

[Chabelis Alegria]

In short, I bought a duplex with two-bedroom units near Indian Village in Detroit. It’s been on the market for over 60 days, and I haven’t been able to rent out either unit. Is this typical for the area? Any advice anyone can give, please do. I am new to buying in Detroit. I own another property in Philadelphia. 

[Arsen Atanasovski]

I was once told by a wise old man, before I was a landlord, he said son you not in the business to break records on rental rates but in the business to have the rent collected. If lowering the rent to a normal rate and having someone there stay for a few years is better then having it top rental rate place and having a tenant stay there for a year. 2 things happen when that happens the tenant starts shopping for something a little less and when they are paying top dollar they expect top service so just keep that in mind. I’ve done both and I would rather just have the place rented at a reasonable rate and have an understanding with the tenant that you could get more but are willing to work with them in return they would appreciate that and also stay longer due to the fact they don’t feel their being ripped off.