Third time's a...flop? Rental vacant for four months

[Charlotte Edwards]

I purchased my third SFH in mid-August. The PM got it spruced up and started showing it. But he's only gotten one application despite numerous showings. He's lowered the price once. My other two rentals are with him; I've never had issues with him, nor do I blame him for this.

The feedback he gets is that it's next to an apartment complex; people don't want to rent near there.  Since this is only my third deal, and I was in a time crunch to get it purchased (I work abroad and was on summer break), it didn't cross my mind. This wasn't my first choice of a purchase; in hindsight, I should've just waited to buy. 

Does anyone have ideas on what, if anything, I can do or should ask the PM to do to help get this rented? Drop the price again? I've been in communication with the PM, but my husband is getting antsy since we have so much money tied up in a house that's not bringing in any. I'm not trying to micromanage or get involved in something I've handed off to him, but I'm not sure if I'm being too hands off.  

Thanks!

[Dennis M.]

Yeah I have an idea , your price is too high . No reason to be on the market that long . There’s a big difference between living in an apartment and raising a family in a house so I’m not thinking that’s hurting you as much as you may think . All places rent at the right price the Number 1 reason for extended vacancy is the price is still too high