First time ever - can't get my property rented in Fort Worth

Dallas, TX · Member since 2014 · 650 posts · 53 votes

I've rented this probably several times. It's an upscale townhome. The lease i've ever rented it for is $2700. Just had a tenant move out after 2 years and listed for $2800 based on some other rentals in the area / comps and have lowered it $100 / week every two weeks.

Now have it listed for $2495. Have shown in 7 or 8 times but no takers.

Any recommendations what to do?

I paid to have it listed on MLS

I'm going to call a couple of property management companies (I manage it myself as it's pretty new and requires very little effort to manage) to see if they would be willing to find a tenant for a fee and have me still manage it.

Not sure if the market is soft or is this is an unusual situation of just bad luck / bad timing.

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Scott Ewell

Investor · Fort Worth, TX · Member since 2016 · 40 posts · 11 votes

I have definitely been noticing the changes in leasing, buying, and selling. I realize we’re getting closer to the end of the season, but it seems slower in all areas this year. I just finished my most expensive purchased SF house and the rehab cost approximately 20k, and I just leased it for 1650. I only had two showings and maybe 7 emails (including the junk emails you get when you list a house for lease...). The second couple that looked at it was a perfect match/fit for the property. I usually have to be prepared for when I hit the “launch button” for all of the phone calls, txt’s, and emails, but not this time, it was crickets. Again, my other properties range from 1225-1325, so I realize it’s a smaller pool. I’ll be listing another one for 1525 hopefully next week, we’ll see what happens with that one.

I use Zillow to list my properties, but this last one I also used Zumper on Facebook, but didn’t get any response from that.

I don’t feel DOM from Zillow are accurate. I sometimes think people don’t remove the listing just to keep getting contacts for their other properties.

Whatever you do, don’t let your gaurd down and let just anyone lease your property...

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Mike Franco
Los Angeles, CA · Member since 2013 · 555 posts · 261 votes
7y
nothing from zillow?
Look at how long other zillow listings are on the market for. That will give you an idea of your market.
property mgmt companies can't perform magic any better than you can.
Collect leads and keep following up with them. Call those 8 people and ask if they've found a place yet
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Dennis M.
Rental Property Investor · Erie, PA · Member since 2018 · 6k+ posts · 9k+ votes
7y
At that price point you have a much smaller pool of folks to rent to
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Michael Corso
Lender · Wildwood Crest, NJ · Member since 2017 · 317 posts · 56 votes
7y
@Steve S. There's terrible when something like that happens especially if you have a mortgage on it and you have to keep writing checks every month. If you have a real estate company you might want to sit down and have a talk with them. If that doesn't work then maybe it's time to find a new company.
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Joe FunariBusiness Member
Real Estate Agent · Keller, TX · Member since 2017 · 850 posts · 825 votes
7y
@Steve S. Reach out to McCaw Property Management. They are a very good property management company here in the Dallas/Ft. They manage all my rentals here in the area and are great to work with. Let them know I refereed you.

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Kyle MccawBusiness Member
Property Manager · Keller, TX · Member since 2011 · 1k+ posts · 1k+ votes
7y
sometimes you have to be a little proactive with a listing. MLS is good but not always good enough. Feel free to call or message me and I can talk you thru some ideas. You don't have to be a client for me to help. I recently did a YouTube video on this exact topic.
McCaw Property Management4.4902 Reviews
Website View Page
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Scott Ewell
Investor · Fort Worth, TX · Member since 2016 · 40 posts · 11 votes
7y
I have definitely been noticing the changes in leasing, buying, and selling. I realize we’re getting closer to the end of the season, but it seems slower in all areas this year. I just finished my most expensive purchased SF house and the rehab cost approximately 20k, and I just leased it for 1650. I only had two showings and maybe 7 emails (including the junk emails you get when you list a house for lease...). The second couple that looked at it was a perfect match/fit for the property. I usually have to be prepared for when I hit the “launch button” for all of the phone calls, txt’s, and emails, but not this time, it was crickets. Again, my other properties range from 1225-1325, so I realize it’s a smaller pool. I’ll be listing another one for 1525 hopefully next week, we’ll see what happens with that one.
I use Zillow to list my properties, but this last one I also used Zumper on Facebook, but didn’t get any response from that.
I don’t feel DOM from Zillow are accurate. I sometimes think people don’t remove the listing just to keep getting contacts for their other properties.
Whatever you do, don’t let your gaurd down and let just anyone lease your property...
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