Having difficulty renting a property in Round Rock, TX

12 Replies

We recently purchased a property in Round Rock, TX. It is a suburb north of Austin. In the last 35+ days, we have not received any meaningful in-bound inquiries, despite having posted the property in all the public web-sites. 

The property is good sized, new (5 years old), and in exceptionally good school district. I have checked rental rates and it appears to be priced at the median (below market from our perspective as we did bunch of work on the house). I have reduced the price of the house atleast 3 times in the last month - still nothing.

Our manager claims that the demand has completely dried up for that neighbourhood. 

We are first time property owners and are really worried about this. It is not as much that the property is empty - more so that there is almost NO inbound.

Any suggestions on how to analyze the market OR new marketing ideas will be sincerely appreciated.

If you want to rent quickly, you want to be below the median.  Also, the fact that you spent money doing work on the house makes no difference, none at all, on the market.  So your rent is not "below market" just because your costs are high.

In my area, the beginning of September is an awful time for rentals.  People move in July and August, so as to be in a new school district prior to the start of school.  September is a lost month, October not bad, then winter comes and it is quiet until Spring.

If you had posted this a month ago, I would have advised you to significantly cut the rent in order to get someone in before the start of the school year.  Now, you probably will be stuck for a bit.

What are the details of the house, and how much is the asking rent?

Having no inquiries in August especially on a newer property in the Austin area is really hard to believe unless it is grossly overpriced. I do have MLS access. Feel free to contact me if you want me to do a little research for you

512-293-3885

Mine got rented within a week or so in RR last month. Plus another got rented "over" the asking price (however 2nd one was brand new property) within a few days also. You can call Zehra (a local Realtor) 512-970-4476. 

I have property in the area and never had a problem finding renters. I'd suggest trying another management company. I had another in Hutto and had a problem there but it turned out to be the management company. They were neglecting the property and not doing any showings. I found this out through the neighbors who were unhappy about the neglected yard. Once I switched management the property was rented in 24 hours. 

310-266-8438

We currently have a place for rent in Round Rock.  It is priced at the median and we have received plenty of interest.  It is hard to believe that in Round Rock with everything it has going for it, a correctly priced home would not rent right away.

Many thanks to everyone who helped. I took everyones advise and did a few changes:

- Increased other parties incentive to above market

- Reduced rent to $1795 (this is from a start of $2195).

- Got professional pictures taken and posted.

Unfortunately still "NO" in-bound.   What else could we be doing. The property now has been up for almost 50 days. We have no real in-bound inquiries. I am just flabbergasted at this point. Don't know what to do now ...

Originally posted by @Abhishek Singhal :

Many thanks to everyone who helped. I took everyones advise and did a few changes:

- Increased other parties incentive to above market

- Reduced rent to $1795 (this is from a start of $2195).

- Got professional pictures taken and posted.

Unfortunately still "NO" in-bound.   What else could we be doing. The property now has been up for almost 50 days. We have no real in-bound inquiries. I am just flabbergasted at this point. Don't know what to do now ...

 Have you communicated with Greg H.?  That was a generous offer on his part.

How many bedrooms/bathrooms/square feet?  Single family or townhouse?  What is the upfront cost (first, last, security?  or just First and security?)  Do you allow pets?

It is really hard to help without details.

Thanks - yes we have it on MLS.

The house is 2400 sq. ft. 4 bed, 2005 built. New paint. New carpet.

Ok, I found your house. I don't see anything wrong with the craigslist ad.

I do seriously question your property manager, if he led you to believe you could get almost $2200 for that house. Your current rent is much more appropriate, though still by no means the cheapest for a house of that sort.

You were wildly overpriced, in my opinion. Now you are slightly overpriced. So you may finally get some interest.

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