Finding tenants in the Fall

[Jason V.]

Just finished replacing the last of the knob and tube in our triplex after lower tenant moved. Everything has been put back and painted. The lower is now listed for rent. It seems the applicant pool has really dried up, as I usually get 50 requests to view. I have gotten five this week and most become no shows. I figured it would be slow and challenging, but was surprised how it really dropped off in the last month. I may have to be patient and wait till spring. Anyone else having this problem? 

[Patrick O'Sullivan]

@Jason V. Fall and winter can definitely slow things down, especially in the Midwest, where weather plays a big role in people’s moving decisions. Dropping rent slightly or adding a small incentive like flexible move-in dates can help keep momentum going without cutting too deeply into cash flow.

Sounds like lowering rent a bit already made a difference, which is great. Sometimes that little adjustment helps your listing stand out when supply is higher. Curious, did you notice more serious applicants after the price change, or just more inquiries overall?