Finding Tenants for new property

3 Replies

Hi Everyone-

I’m a new investor. A few weeks ago I closed on my first duplex and I’m looking to house hack. I will be living in the smaller downstairs unit while renting out the upstairs which is a large 3 bed 2 full baths.

The unit itself is very clean (I painted, installed new mini blinds, cleaned up the landscaping, and added some improvements). The house has off street parking, free laundry, private backyard, all for the tenants.

However after a few showings no one seems to be biting...I’m listed at 1500 which is appropriate for my areA. I think it’s value is 1600-1700 but given it isn’t peak rental season I wanted to get someone in quickly before winter so I went with lower rent.

My sister is a photographer and recently took all new pics (after the remodeling)- I’m hoping the new pics will attract more tenants.

As I’m brand new to this I was hoping to get some advice? I’m trying not to get discouraged and find the right tenants. Any thoughts/advice would be great. Thank you in advance.

John T.

@John Tarricone welcome to BP. I use Zillow and Apartments.com really good response but tons of unqualifieds even when you state your requirements in the ad. I find showings to be a waste of time unless they have are pre screened via phone and email; just because they want to see it is not reason enough. If you don't have it filled in a few weeks you may need to re-think your rent number. All the best!

Originally posted by @John Tarricone :

Hi Everyone-

I’m a new investor. A few weeks ago I closed on my first duplex and I’m looking to house hack. I will be living in the smaller downstairs unit while renting out the upstairs which is a large 3 bed 2 full baths.

The unit itself is very clean (I painted, installed new mini blinds, cleaned up the landscaping, and added some improvements). The house has off street parking, free laundry, private backyard, all for the tenants.

However after a few showings no one seems to be biting...I’m listed at 1500 which is appropriate for my areA. I think it’s value is 1600-1700 but given it isn’t peak rental season I wanted to get someone in quickly before winter so I went with lower rent.

My sister is a photographer and recently took all new pics (after the remodeling)- I’m hoping the new pics will attract more tenants.

As I’m brand new to this I was hoping to get some advice? I’m trying not to get discouraged and find the right tenants. Any thoughts/advice would be great. Thank you in advance.

John T.

Hey John,

Congratulations on acquiring your duplex!!

If you haven't already done so, I would list this with a Realtor. I couldn't tell from your post if its already on MLS.

Also, "For Rent" window signs are helpful if you get a decent amount of traffic passing by the property.

Lastly, here in New York, there are other sites where landlords list their rental units (roomi, streeteasy, etc). I would look up other rental listings in your area, then run a google search with the address to see where [else] the listing is posted to make sure you're getting the word out there.

Best of luck to you on your journey!

Abel

Hi John,

If you feel like the rent price is consistent with your market I would hold out there for a bit longer. It sounds like you need more traffic to the unit. Not sure what conditions are like in your market, but we have really great success using Facebook Marketplace where I operate. There are several groups specifically for homes/apartments for rent, but even just the general Marketplace has given me a lot of leads. Look around for groups in your area, and if one doesn't exist it might be a good opportunity to start one. You'll meet a lot of other investors that way too!