What to do can't get my place rented ?

General Landlording & Rental Properties
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What to do can't get my place rented ?

Mark Weinstock
Investor · Sunrise, FL · Member since 2009 · 105 posts · 15 votes

I'm a first time landlord trying to get my place rented with no luck so far

Heres a link to my rental
http://www.rentals.com/Florida/Fort-Lauderdale/r1109798/

I didn't want to screen and interview people myself so i listed with a very local realty office just blocks from my rental

Before I chose that realty office i talked to a few other realtors in the area and it seems the local going rate is one month rent for me that would be $1200 I worked out a deal with this office said they'd do it for half $600 but won't list it in the MLS for that price

Anyways they've had the place for over over a month now with no luck. The girl i listed with now recommended i just pay the full fee and let them list in the MLS that way she says it will get more action she said she showed the place to 15 people and no one made a offer

looking for advice what to do

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Tracey B.
Real Estate Investor · MD · Member since 2010 · 124 posts · 84 votes
16y

Mark, the way your listing reads that you attached says that they have to pay $1200 plus $3600. If you are only charging $1200, then the listing needs to clarify that as $1200 security deposit. Prospective tenants will see that and understand that $1200 + $1200 is $2400. I suggest you do a listing on craigslist yourself with pictures and see what happens. Often times, realtors may not be seriously following up on email leads via craigslist and as someone else asked, what has been their feedback if they claim to have done so many showings? Try craigslist yourself and see what kind of response you get.

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  • Account Closed
    Landlord · Seattle, WA · Member since 2010 · 3k+ posts · 1k+ votes
    16y

    Keep in mind that the holidays are coming and in my experience it becomes much tougher to rent say in December and January. I would do anything you can now that might bring in qualified tenants. You definitely want to verify that your deposit is not higher than competing rentals. Perhaps you may want to offer an incentive as well. More important to get a good tenant than loose several more months of potential rent.

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  • Bienes Raices
    Orlando, FL · Member since 2009 · 2k+ posts · 282 votes
    16y
    Originally posted by Lisa Lunger:
    I manage over 1,000 units and Craigslist and a good for rent sign in the yard always work the best for me. You need to repost on craigslist everyfew days to stay on top of the search. I normally have 3-4 postings for the same property, with diffrent headings to reach more of my targe market


    I thought craig's was good too, the problem was that most of the people calling from other states turned out to be flakes. But that isn't craig's fault.
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  • Sharad M.Pro Member
    Carlsbad, CA · Member since 2010 · 1k+ posts · 1k+ votes
    16y

    Have you considered offering some incentive to your applicants to make the place look more attractive? Like a $50/month gift card for every month they pay the rent on time? Or, $100 gift card for the first qualified applicant? May be free internet included in the rent. These are some quick and inexpensive ideas to get your places rented.

    In my area, I put my place on market at slightly higher than market rent but offered a gift card for tenants who pay the rent on 1st and it was amazing to see how excited the tenants were about this offer. You may want to try something like that.

    Podcast Guest on Show #155
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  • Mark Weinstock
    OP
    Investor · Sunrise, FL · Member since 2009 · 105 posts · 15 votes
    15y

    Well finally got the place rented for $1200 + $1200 Security :D
    The original agent with the half price fee of $600.found me someone but it took 2 to 3 months .
    I really feel I just cheated myself and if I would of just payed the full one month fee $1200 and had them list it on the MLS maybe i could of got it rented sooner and not lost 3 months will try that next time

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  • Aaron R
    Real Estate Investor · Spokane, WA · Member since 2010 · 28 posts · 4 votes
    15y
    Originally posted by Charles Perkins:
    I do quite well listing on craigslist. I would agree that $3600 for a deposit sounds very high. A number of years ago, I would have been able to get first, last and deposit. Doesn't happen anymore though.

    You may want to find out what typical rents and deposits are for the area and go from there.

    This...Look in your local craigslist under housing wanted. And maybe rethink that high of a deposit.

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  • Ana Hyler
    Lincoln, NE · Member since 2008 · 249 posts · 46 votes
    15y

    Congrats for finally getting it rented Mark...and yes...in real estate ...or in anything for that matter....TIME IS MONEY !

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  • Jackie Patterson
    Real Estate Investor · Kalamazoo, MI · Member since 2010 · 681 posts · 241 votes
    15y

    Hopefully the agent did background checks and found not only a tenant that would pay what you want, but is also qualified. We always check the court records for landlord tenant disputes, and also to be sure we're not renting to anyone with a drug history. Sure don't want a meth lab!

    I agree with many others on here. Craig's List gets the best results for us.

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