Property Manager · Albany, OR · Member since 2016 · 58 posts · 23 votes
I own a 5-plex in Urbandale, IA. The largest of the 5 units is a 3-bedroom, which is the vacant one. The other 4 are 1 bedrooms. The 3bedrm is super nice, and over 1600 sq/ft. Laundry in-unit, pet friendly... all the things you could want in an apartment. I'm having some real problems finding people who are interested because the unit is in a converted house. So the pictures of the building look like a single family home. I've had several people contact me thinking it's a house (even though the ad clearly states apartment) The rent I'm asking for is comparable from what I'm seeing in CL. But it seems like there's a LOT of competition. There are TONS of ads for the same apartment from large complexes. I'm not using a management company right now. I've attached my CL link. (I realize many of the photos aren't great, i'm having professionals taken tomorrow) Any suggestions on how I can better market this place, or if I'm way off base on my pricing, would be appreciated.
Rental Property Investor · Urbandale, IA · Member since 2016 · 6 posts · 3 votes
9y
Rachel - I live in Urbandale and am a local investor. I buy, fix-up and sell as well as have passive income units.
I use a property management software called R E N T E C D I R E C T and I just click the "syndicate" button and my property gets blasted out everywhere. Since I've been uning this for the past couple of years I have never put up a sign or ad or anything. It costs about $15.00 a month and is what I use to manage all aspects of my rentals.
Let me know if there is anything else I can help you with.
Investor · Pittsburgh, PA · Member since 2015 · 1k+ posts · 1k+ votes
9y
@Rachel Payton If the location is good and there is a demand for a three bedroom and the property shows well and has nice amenities and you have done your market research then I would suggest reducing the price. How long has it taken you in the past to rent it out? How much turnover do you get with the 3 bedroom verses the 1 bedrooms?
Rental Property Investor · Urbandale, IA · Member since 2016 · 6 posts · 3 votes
9y
Rachel - I live in Urbandale and am a local investor. I buy, fix-up and sell as well as have passive income units.
I use a property management software called R E N T E C D I R E C T and I just click the "syndicate" button and my property gets blasted out everywhere. Since I've been uning this for the past couple of years I have never put up a sign or ad or anything. It costs about $15.00 a month and is what I use to manage all aspects of my rentals.
Let me know if there is anything else I can help you with.
Rental Property Investor · Altoona, IA · Member since 2014 · 23 posts · 5 votes
9y
Rachel, I have some retnals throughout the metro here in Des Moines. Have you tried posting on Zillow? What I like about Zillow is it post to their site as well as Trulia and HotPads. Half of my tenants come from CL and the other half from zillow/trulia/hotpads. Hope this helps. I rent some single family homes near yours that are 3 bedrooms 2 bath 2 stall garage ranches for 1550 and 1600. Hope this helps with your pricing