This house has no takers

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This house has no takers

Mark Forest

Real Estate Investor · Fenton, MI · Member since 2008 · 946 posts · 153 votes

I can't seem to get this house rented even after many rent reductions. Please offer advice and critisisms.

https://www.zillow.com/homedetails/Morrish-St-Burt...

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Bernie Huckestein

Rental Property Investor · Apopka, FL · Member since 2013 · 155 posts · 62 votes

Assuming that is close to market rate

It looks like there is a fence around the back yard? I know folks will disagree but if it would me I would not only allow I would market to dog owners (I don't do cats). If you reserve the right to meet / approve the dog I've found this opens up an entire new market.

I look at it this way....with the exception of college I've never been without a dog...and I would have been a good tenant.

I think that is your ticket...but no cats.

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Geoff Andrist
Investor · Snohomish, WA · Member since 2017 · 26 posts · 17 votes
8y
Hows that compare to market?
Think you can get a better picture with blue skies behind it?
Haven't seen a minimum income on these ads before, does that work for you?
Just a few thoughts.
3 Reply
Krystallin Baker
Fort Collins, CO · Member since 2017 · 99 posts · 86 votes
8y
How many places do you have this listed other than Zillow?
1 Reply
Bernie Huckestein
Rental Property Investor · Apopka, FL · Member since 2013 · 155 posts · 62 votes
8y
Assuming that is close to market rate
It looks like there is a fence around the back yard? I know folks will disagree but if it would me I would not only allow I would market to dog owners (I don't do cats). If you reserve the right to meet / approve the dog I've found this opens up an entire new market.
I look at it this way....with the exception of college I've never been without a dog...and I would have been a good tenant.
I think that is your ticket...but no cats.
b
10 Reply
Kevin C.
Investor · McKinney, TX · Member since 2016 · 50 posts · 26 votes
8y
Allow pets, perhaps. Just charge per rent and/or more deposit to mitigate risk.
2 Reply
Eddie Memphis
Investor · Englewood, CO · Member since 2015 · 158 posts · 140 votes
8y
People that can only afford $575 are very unlikely to have their own refrigerator or dishwasher.
Why $862? That is an unusual number for a security deposit.
4 Reply
JD MartinBusiness Member
Moderator
Rock Star Extraordinaire · Northeast, TN · Member since 2015 · 10k+ posts · 16k+ votes
8y
Thoughts:
1. No pets doesn't make a lot of sense to me. Better to "pet-proof" the property and open up that segment, especially with a house with a yard that large. It's not like you've got the Taj Mahal there you're trying to protect from doggie paws.
2. Where are the appliances (dishwasher/fridge)? I don't know if it's normal there but no one around here travels with their own dishwasher at all, and only divorcees have their own fridge. Everyone else expects it with the rental.
3. Is 1.5 months deposit normal in Michigan?
I don't know anything about the area, but it appears to be on the outskirts of Flint. All I know about Flint is really from "Roger and Me" and the water crisis. I assume the area is still pretty poor.
If you have good traffic and no takers, the value option isn't there for the tenant - either the house, amenities, or location is not a good value relative to the cost. If you have no traffic, then either there's no renters in your area, no one wants to live in your area, or the cost is too high (or too low!) for your area.
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Jon Holdman
Rental Property Investor · Mercer Island, WA · Member since 2008 · 22k+ posts · 14k+ votes
8y
Lack of a fridge may be an issue. Dishwasher is less of an issue, IMHO. Agree about the security deposit, too. What's customary in your area?
Have you had lookers? How about callers? What is their feedback?
Do you have a sign on the property?
Are there other two bed houses in the area? Have you called them and asked about price, deposit and what's included? Doesn't look like there are many, looking on rentometer. There may just not be much demand for two bed houses. How long have other two bed houses been available?
3 Reply
Patrick M.
Rental Property Investor · Red Bank, NJ · Member since 2017 · 1k+ posts · 1k+ votes
8y
my impression from your little blurb there is that you don't want to rent it. Sorry, just my take. Must! No! Have to! Why no just advertise the property and see who came looking. I gotta imagine a whole hell of a lot of people around Flint have been evicted or had bad credit- why not have a face to face discussion about it? Let them explain there situation to you when they apply.
When they look good and they seem like a taker consider reimbursing the $25 background check if they are eventually placed.
Looks like you have a property in a low income area and you want high income tenants?
2 Reply
Fernando DomingoPro Member
Long Beach, CA · Member since 2016 · 61 posts · 17 votes
8y
In looking at the available rentals in the area there are a lot of places that have been on the market for quite a while. Many have more square footage for not much more than you are asking. Some have been on the market for 6 months to a year with only 13 to 14 people saving the listing. Considering that, I would say that it is a tenants market, for lack of a better term. You will have to do something to your property to "make it shine" compared to other properties on the market. Like mentioned above, you may have to be more lenient about the tenants that you allow in. Otherwise drop your price dramatically or sell if it is harming you financially. You may be better investing in an area that has more immediate demand.
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Andrew McManamon
Real Estate Agent · Brighton, MI · Member since 2017 · 72 posts · 18 votes
8y
With a place like that, I would be targeting the younger population, they dream of moving out of their homes and that is the perfect rent price for it. Take time prettying up the listing and publish it on social media platforms
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Christine Kankowski
Real Estate Broker · Temecula, CA · Member since 2014 · 992 posts · 782 votes
8y
ANyone renting a house for $525 doesn't have a lot of extra cash, so the deposit required is quite high. Also a huge percentage of people have a pet, so you are knocking out a ton of people
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Joseph Abbott
Tulsa, OK · Member since 2016 · 119 posts · 23 votes
8y
Hello Mark,
Overall, your ad is pretty good. I love the hardwood floors, paint, yard size, etc. Here are a few of my suggestions.
Like a few other people stated, the deposit is too high. In my opinion, it should be the same as the rent or lower. You could allow a pet. You have the yard for it. Think about putting a limit on the pet. You could also talk about the school district where the home is located. Check out great schools.org as a reference.
In the picture of the backyard, there are a pile of branches. I would clear those out. Take a full picture of the backyard. I would install a dishwasher. If not, its just a weird open space. You can probably find one through habitat for humanity. Lastly, the fan blades are flopping. If you need any assistance, feel free to message me.
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Dan MahoneyPro Member
Financial Advisor · Atlanta, GA · Member since 2016 · 256 posts · 350 votes
8y
@Mark Forest Do you have experience with <$600/month tenants in your area? I don't know much about Michigan, but here in Georgia, tenants at this price point would have trouble passing your screening criteria and probably won't spend the $25 to apply, since they doubt they'll pass. The security deposit is also an obstacle. On the income requirement, you may have potential tenants that earn enough, but it's cash under the table (e.g., house cleaners, handymen, domestic workers) so they don't have formal documentation. Landlords put these requirements in the ad to avoid wasting time on frivolous applicants but that doesn't seem to be your biggest problem at this time.
I actually think the house looks pretty nice for what you're charging. Your tenants may expect a fridge, but they they probably aren't accustomed to having a dishwasher.
I'd summarize my thoughts on dogs as: No pit bulls.
Again, take this for what it's worth. I only know a handful of Michiganders, but I like the ones I know.
1 Reply
Sam Shueh
Real Estate Agent · Cupertino, CA · Member since 2016 · 4k+ posts · 1k+ votes
8y
toxic river, water made headline news. Not surprised.
1 Reply
Jill F.
Investor · Akron, OH · Member since 2016 · 2k+ posts · 4k+ votes
8y
I could rent that tomorrow in my area. I bet taking pets would do it. I get a "non-refundable pet fee" up front and then $20/month per pet. Oh, I bet a decent frig would really help too.
1 Reply
Colleen F.Pro Member
Investor · Narragansett, RI · Member since 2013 · 8k+ posts · 4k+ votes
8y
Curtains, shower curtain, flowers on the porch, overall a homier look. Add the dishwasher, and the fridge. Find pets that are acceptable to you and take them, use a pet fee and a lower deposit. Make a new listing so it looks fresher.
4 Reply
Brian Ploszay
Investor · Chicago, IL · Member since 2009 · 1k+ posts · 1k+ votes
8y
Time to get creative. I am assuming this is in Fenton Michigan. It is near Flint Michigan, which is an area that has lost population over the last 30 years. The rent is surely affordable. The house is not big.
Post advertisements around town. Post craigslist ads. Flyer cars. Much larger signs.
Put a little landscaping in the front to make the house more attractive. Advertise in a few local newspapers. Word of mouth. Find out if there are any real estate leasing agents in the area. Tell friends, coworkers, church members and family.
Good luck.
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Deanna O.
Rental Property Investor · San Diego, CA · Member since 2010 · 366 posts · 314 votes
8y
Post on Craigslist if you haven't already. IMHO Zillow is used by buyers, Craigslist used by renters.
That 2nd bedroom looks really, really tiny - maybe make sure your "2 bedroom" is comparable in sq footage to the other 2 bedrooms in the area, if not maybe price should be between a 1 bedroom & 2 bed. There are some other articles about ad-writing, maybe review those. Maybe a pitch that they are getting their "own house" for the same price as an apt, if that is indeed true ("Tired of thin walls and loud music at 1 am? Move into your own cozy house with your own back yard at an apartment price! Friendly neighbors, and a yard that is perfect for summer BBQs, and gardening") (make sure whatever you say is true, of course).
Is Section 8 a reasonable idea? Here in CA it's a bit loaded (1 yr min lease, etc), but it definitely opens up a wider pool of tenants (maybe find out if other properties in the area are also Section 8 -- possibly even do research on the demographics of the area. If $1500 is a good wage for the region, maybe that works for your rental).
I agree on adding a fridge. Doesn't need to be super fancy (though stainless cost price is similar to plain white in many cases). Shop Craigslist & you can probably find one pretty cheap (but put $ aside for replacing appliances if you get $100 cheapies on CL).

2 Reply
Bettina F.
Investor · Post Falls, ID · Member since 2016 · 606 posts · 699 votes
8y
It needs window coverings. Cheap mini blinds are easy to install. Try to add a little color to the front photo, even if it is silk flowers in a pot. Try a colorful shower curtain in the bath.
It looks like the photos were taken with a water spotted lens. Take the $10 Udemy on-line course on Photography for Real Estate Professionals, it will greatly improve your photography skills and that is a skill we use a lot of in this business.
2 Reply
Ray Lai
Investor / Vendor · San Diego, CA · Member since 2016 · 1k+ posts · 949 votes
8y
Tips:
1) Invest in a better camera - the picture quality is poor
2) Advertise on Craigslist in surrounding areas, this place looks far from jobs
3) You don't have any information for laundry and parking.
4) High deposit for so few amenities - either add the amenities or lower the deposit
2 Reply
Michael M.
La Puente, CA · Member since 2016 · 102 posts · 21 votes
8y
Im not sure if this has been mentioned. A quick look nearby rentals are $475, $500, & $395. Your the highest price. Quality matters but price is a heavy detirminent.
2 Reply
Account Closed
Real Estate Investor · Member since 2017 · 47 posts · 12 votes
8y
Originally posted by @Eddie Memphis:

People that can only afford $575 are very unlikely to have their own refrigerator or dishwasher.
Why $862? That is an unusual number for a security deposit.
I would tend to agree put in the appliances - make it easier for a tenant to move in - Looks like a nice enough place, no one lives on top of you and you have a yard for the kids and dog - 1st 3 months rent free with security deposit up front with 18 month lease - I was poor once and every $$$ counts when you can't afford new purchases
Great backyard for an illegal global warming bonfire, with the family, on holidays
In Arizona the owned media have made it their mission statement to make it illegal to have a backyard bonfire on every official federal holiday.
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Ian WalshBusiness Member
Lender · Philadelphia, PA · Member since 2016 · 2k+ posts · 1k+ votes
8y
Check the comps for sure. There is always a number that matches the condition. How many showings and requests have you had? Where is it syndicated to?
0 Reply
Christy Christman
Real Estate Agent · Syracuse, NY · Member since 2017 · 6 posts · 11 votes
8y
Bright, shiny things are attractive. Price is not always the reason for a lack of interest in a property. It could be the dark photos, specks of dust on the camera lens that show in the photos, lack of a refrigerator, hardwood floors appearing dirty/dusty (footprints can be seen), or your wording in the description - which is good but some people need "bright, shiny" words.
Here's an example of how I would describe your listing as if it were mine:
Check out this cozy two bedroom, one bathroom home with a large, open backyard and a 10x20 shed! This home is located in a quiet, friendly neighborhood just off of Lippincott Blvd two miles down the road from Thread Lake and includes free well water with a newer water softener. With new flooring, freshly cleaned carpets, fresh paint, and an updated bathroom, what are you waiting for? Call <phone number> to submit your application before someone else takes this home off the market! $862 security deposit. $25 Application fee. Smokers and pet owners need not apply.
Just input for your consideration.
Definitely look into what similar 2 bed, 1 bath 720 sq. ft. rentals are going for in your area. Price competitively, and beware of pricing too low as this can lead potential renters to think something is wrong with the home. I would match rent and the security deposit or make the security deposit less than rent. A lot of people looking to rent a 2 bed home more than likely don't have a refrigerator coming with them. You could offer a deal for $150 toward a refrigerator. However, I personally wouldn't make a deal like that unless I were receiving $700+ in rent with a $700+ deposit. I would allow a small-medium dog with a deposit or additional $15 per month in rent. Large dogs should not be confined to a 720 sq. ft. space, and should not be left outside especially with winter approaching.
I hope this helps.
1 Reply
Yulia J.
Westmont, Illinois (IL) · Member since 2016 · 53 posts · 15 votes
8y
1. $$$, that's the 1st thing they look at in the ad. Is it possible to reconsider the monthly income req't? 2.5 X rent maybe? Security deposit too high. Credit check fee - I reimburse it if I rent to them and make sure to mention it in the ad.
2. From my experience, many potential renters ignore "no pets, no smokers" parts of the ad. If they want the property, they will still call and come and ask if a couple of kittens would be still OK.
Make it ready to move in and more desirable. Fridge (a must), dishwasher, washer/dryer, window treatments. Clean up a bit (plastic and wires on a window, a pile in the back yard, the old toilet looks dirty underneath) . Take clear pictures of the house without water drops on the camera.
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