All
Members
Companies
Blog
Forums
Podcast
Webinars
    User Log in  /  Sign up
  • Forums
    Newest Posts Trending Discussions Followed Forums Real Estate News & Current Events General Landlording & Rental Properties Buying & Selling Real Estate Deal Analysis See All
  • Education

    Read

    BiggerPockets Blog BPInsights: Expert Analysis Coronavirus Content & Resources Guides Glossary Reviews Member Blogs

    Watch

    Webinars Video Library Financial Independence Blueprint Intro to Real Estate: Rentals

    Listen

    BiggerPockets Real Estate Podcast BiggerPockets Money Podcast BiggerPockets Business Podcast Real Estate Rookie Podcast Daily Podcast (Audio Blog)

    Topics

    Business Operations Finance Finding Deals Property Management Property Types Strategy
  • Network

    Recommended Vendors

    Real Estate Agents Mortgage Lenders Companies Hard Money Lenders Contractors Investment Companies

    Search

    Members Events Jobs
  • Tools

    Calculators

    Rental Property Fix and Flip BRRRR Rehab Estimator
    Wholesaling Mortgage Payment 70% Rule Airbnb

    Services

    BPInsights: Property Insights Tenant Screening Property Management Lease Agreement Packages

    New Feature

    BPInsights (beta)

    Quickly analyze a property address or ZIP Code to compare your rent in your neighborhood.

    Analyze a property
  • Find Deals
    Real Estate Listings Find Foreclosures External Link Ads, Jobs, and Other
  • Bookstore

    Real Estate Books

    Profit Like The Pros Bidding to Buy See all books

    Featured Book

    BiggerPockets Wealth Magazine book cover
    BiggerPockets Wealth Magazine

    Written by financial journalists and data scientists, get 60+ pages of newsworthy content, expert-driven advice, and data-backed research written in a clear way to help you navigate your tough investment decisions in an ever-changing financial climate! Subscribe today and get the Oct/Nov issue delivered to your door!

    Get the Magazine
  • Pricing
Log In Sign up
User
Quick search links
Podcast Hard Money Lenders Books Washington
ForumsArrowGeneral Landlording & Rental PropertiesArrowTime of Year, Property Manager, or User Error?
  • Newest Posts
    • Newest Posts
    • Unanswered Discussions
  • Trending
    • Top Discussions
    • Trending Discussions
  • Browse Forums
Search Nova
Topic: 1031 Exchanges Topic: Akron Real Estate Forum Topic: Alabama Real Estate Q&A Discussion Forum Topic: Alaska Real Estate Q&A Discussion Forum Topic: Alberta Real Estate Forum Topic: Albuquerque Topic: Allentown Real Estate Forum Topic: Anchorage Real Estate Forum Topic: Ann Arbor Topic: Arizona Real Estate Q&A Discussion Forum Topic: Arkansas Real Estate Q&A Discussion Forum Topic: Arlington Real Estate Forum Topic: Asheville NC Real Estate Forum Topic: Ask About A Real Estate Company Topic: Athens Real Estate Forum Topic: Atlanta Real Estate Forum Topic: Aurora Real Estate Forum Topic: Aurora Real Estate Forum Topic: Austin Real Estate Forum Topic: Bakersfield Real Estate Forum Topic: Baltimore Real Estate Forum Topic: Bankers, Lenders, and Mortgage Brokers Topic: Baton Rouge Real Estate Forum Topic: Beaverton Real Estate Forum Topic: BiggerPockets Business Podcast Topic: BiggerPockets Exclusive PRO Area Topic: BiggerPockets Money Podcast Topic: BiggerPockets Real Estate Investing Summit Topic: BiggerPockets Summer Reading List Topic: BiggerPockets Webinar Discussion Forum Topic: Billings Real Estate Forum Topic: Birmingham Real Estate Forum Topic: Bismarck Real Estate Forum Topic: Boise Real Estate Forum Topic: Boston Real Estate Forum Topic: Bridgeport Real Estate Forum Topic: British Columbia Real Estate Forum Topic: BRRRR - Buy, Rehab, Rent, Refinance, Repeat Topic: Buying & Selling Real Estate Discussion Topic: California Real Estate Q&A Discussion Forum Topic: Cambridge Real Estate Forum Topic: Canadian Real Estate Topic: Cape Cod Real Estate Forum Topic: Cape Coral Real Estate Forum Topic: Casper Real Estate Forum Topic: Cedar Rapids Real Estate Forum Topic: Chandler Real Estate Forum Topic: Charleston Real Estate Forum Topic: Charleston Real Estate Forum Topic: Charlotte Real Estate Forum Topic: Chattanooga Real Estate Forum Topic: Chesapeake Real Estate Forum Topic: Cheyenne Real Estate Forum Topic: Chicago Real Estate Forum Topic: Chittenden County Real Estate Forum Topic: Cincinnati Real Estate Forum Topic: Cleveland Real Estate Forum Topic: Coastal NC Real Estate Forum Topic: Colorado Real Estate Q&A Discussion Forum Topic: Colorado Springs Real Estate Forum Topic: Columbia Real Estate Forum Topic: Columbia Real Estate Forum Topic: Columbus Real Estate Forum Topic: Columbus Real Estate Forum Topic: Commercial Real Estate Investing Forum Topic: Completed Deal Diaries Topic: Connecticut Real Estate Q&A Discussion Forum Topic: Construction & Remodeling Diaries Topic: Contractors Topic: Conway Real Estate Forum Topic: Coronavirus Conversation Topic: Coronavirus Government Assistance Programs Topic: Creative Real Estate Financing Forum Topic: Currently Under Contract Topic: Dallas Real Estate Forum Topic: Davenport Real Estate Forum Topic: Dayton Real Estate Forum Topic: Delaware Real Estate Q&A Discussion Forum Topic: Denver Real Estate Forum Topic: Des Moines Real Estate Forum Topic: Detroit Real Estate Forum Topic: Do it Yourself Topic: El Paso Real Estate Forum Topic: Eugene Real Estate Forum Topic: Evansville Real Estate Forum Topic: FAQ Forum Topic: Fargo Topic: Fayetteville Real Estate Forum Topic: First Time Home Buyer Topic: Florida Real Estate Q&A Discussion Forum Topic: Foreigners Buying in the USA Topic: Fort Collins Real Estate Forum Topic: Fort Lauderdale Real Estate Forum Topic: Fort Smith Real Estate Forum Topic: Fort Wayne Real Estate Forum Topic: Fort Worth Real Estate Forum Topic: Fresno Real Estate Forum Topic: General Foreclosure & Pre-Foreclosure Forums Topic: General Landlording & Rental Properties Topic: General Real Estate Investing Topic: Georgia Real Estate Q&A Discussion Forum Topic: Germantown Real Estate Forum Topic: Get Foreclosure Help - Stop Foreclosure Forum Topic: Gilbert Real Estate Forum Topic: Glendale Real Estate Forum Topic: Goals, Business Plans & Entities Topic: Grand Rapids Real Estate Forum Topic: Green Bay Topic: Greensboro Real Estate Forum Topic: Hammond Real Estate Forum Topic: Hartford Real Estate Forum Topic: Hawaii Real Estate Q&A Discussion Forum Topic: Henderson Real Estate Forum Topic: Hialeah Real Estate Forum Topic: Hilo Real Estate Forum Topic: Home Owner Association (HOA) Issues & Problems Forum Topic: Honolulu Real Estate Forum Topic: Housing News & Real Estate Market Discussions Topic: Houston Real Estate Forum Topic: HUD, VA, and Tax Sales Topic: Huntington Real Estate Forum Topic: Huntsville Real Estate Forum Topic: Idaho Falls Real Estate Forum Topic: Idaho Real Estate Q&A Discussion Forum Topic: Illinois Real Estate Q&A Discussion Forum Topic: Indianapolis Real Estate Forum Topic: Indiana Real Estate Q&A Discussion Forum Topic: Innovative Strategies Topic: Interest Rate Drops Topic: International Real Estate Topic: Investor Deal Diaries Topic: Investor Psychology Topic: Iowa Real Estate Q&A Discussion Forum Topic: Jackson Real Estate Forum Topic: Jacksonville Real Estate Forum Topic: Jersey City Real Estate Forum Topic: Job Loss/Company Closings Topic: Joliet Real Estate Forum Topic: Jonesboro Real Estate Forum Topic: Kailua Real Estate Forum Topic: Kānèohe Real Estate Forum Topic: Kansas City Real Estate Forum Topic: Kansas City Real Estate Forum Topic: Kansas Real Estate Q&A Discussion Forum Topic: Kentucky Real Estate Q&A Discussion Forum Topic: Knoxville Real Estate Forum Topic: Lakewood Real Estate Forum Topic: Landlord Problem Solving Topic: Las Cruces Real Estate Forum Topic: Las Vegas Real Estate Forum Topic: Lewiston Real Estate Forum Topic: Lexington-Fayette Real Estate Forum Topic: Lincoln Real Estate Forum Topic: Little Rock Real Estate Forum Topic: Local Real Estate Networking Topic: Long Beach Real Estate Forum Topic: Long Island Real Estate Forum Topic: Los Angeles County Real Estate Forum Topic: Louisiana Real Estate Q&A Discussion Forum Topic: Louisville Real Estate Forum Topic: Madison Real Estate Forum Topic: Maine Real Estate Q&A Discussion Forum Topic: Managing Your Property Topic: Manchester Real Estate Forum Topic: Manitoba Topic: Marketing Your Rental Topic: Marketplace Topic: Maryland Real Estate Q&A Discussion Forum Topic: Massachusetts Real Estate Q&A Discussion Forum Topic: Meads Real Estate Forum Topic: Memphis Real Estate Forum Topic: Meridian Real Estate Forum Topic: Mesa Real Estate Forum Topic: Miami Topic: Michigan Real Estate Q&A Discussion Forum Topic: Military Investing Topic: Milwaukee Real Estate Forum Topic: Minneapolis Real Estate Forum Topic: Minnesota Real Estate Q&A Discussion Forum Topic: Mississippi Real Estate Q&A Discussion Forum Topic: Missoula Real Estate Forum Topic: Missouri Real Estate Q&A Discussion Forum Topic: Mobile (Alabama) Real Estate Forum Topic: Mobile Homes & Mobile Home Park Investing Topic: Modesto/Merced Real Estate Forum Topic: Montana Real Estate Q&A Discussion Forum Topic: Montgomery Real Estate Forum Topic: Mortgage Payment Suspension Topic: Mt. Pleasant Real Estate Forum Topic: Multi-Family and Apartment Investing Forums Topic: Nampa Real Estate Forum Topic: Naperville Real Estate Forum Topic: Nashville Real Estate Forum Topic: Nebraska Real Estate Q&A Discussion Forum Topic: Nevada Real Estate Q&A Discussion Forum Topic: Newark Real Estate Forum Topic: New Brunswick Real Estate Forum Topic: Newfoundland and Labrador Real Estate Forum Topic: New Hampshire Real Estate Q&A Discussion Forum Topic: New Haven Real Estate Forum Topic: New Jersey Real Estate Q&A Discussion Forum Topic: New Member Introductions Topic: New Mexico Real Estate Q&A Discussion Forum Topic: New Orleans Real Estate Forum Topic: New York City Real Estate Forum Topic: New York Real Estate Q&A Discussion Forum Topic: Norfolk Real Estate Forum Topic: North Carolina Real Estate Q&A Discussion Forum Topic: North Dakota Real Estate Q&A Discussion Forum Topic: Northwest Territories Real Estate Forum Topic: Norwalk Real Estate Forum Topic: Nova Scotia Real Estate Forum Topic: Nunavut Real Estate Forum Topic: Oakland Real Estate Forum Topic: Off-Topic Topic: Ogden Topic: Ohio Real Estate Q&A Discussion Forum Topic: Oklahoma City Real Estate Forum Topic: Oklahoma Real Estate Q&A Discussion Forum Topic: Omaha Real Estate Forum Topic: Ontario Real Estate Forum Topic: Orange County Real Estate Forum Topic: Oregon Real Estate Q&A Discussion Forum Topic: Orlando Real Estate Forum Topic: Overland Park Real Estate Forum Topic: Pearl City Real Estate Forum Topic: Pennsylvania Real Estate Q&A Discussion Forum Topic: Peoria Real Estate Forum Topic: Personal Finance Forum Topic: Philadelphia Real Estate Forum Topic: Phoenix Real Estate Forum Topic: Pittsburgh Real Estate Forum Topic: Pocatello Real Estate Forum Topic: Portland Real Estate Forum Topic: Portland Real Estate Forum Topic: Prince Edward Island Real Estate Forum Topic: Private Lending & Conventional Mortgage Advice Topic: Property Insurance Questions & Discussions Topic: Providence Real Estate Forum Topic: Provo Real Estate Forum Topic: Quad Cities Real Estate Forum Topic: Quebec Real Estate Forum Topic: Questions About BiggerPockets and Official Site Announcements Topic: Raleigh Real Estate Forum Topic: Rapid City Real Estate Forum Topic: Real Estate Agent Forums Topic: Real Estate Crowdfunding Forums Topic: Real Estate Deal Analysis and Advice Topic: Real Estate Development & New Home Construction Topic: Real Estate Events and Happenings Topic: Real Estate Guru, Book & Course Reviews and Discussions Topic: Real Estate Investor Marketing Help & Advice Topic: Real Estate News & Current Events Topic: Real Estate Not-So-Successful Stories Topic: Real Estate Quizzes Topic: Real Estate Rookie Podcast Topic: Real Estate Success Stories Topic: Real Estate Technology, Social Media & Blogging Topic: Real Estate Wholesaling Questions & Answers Topic: Rehabbing and House Flipping Topic: Reno Real Estate Forum Topic: Renters Discussion Topic: Rent to Own a.k.a. Lease Purchase, Lease Options Topic: REOs Topic: Rhode Island Real Estate Q&A Discussion Forum Topic: Richmond Real Estate Forum Topic: Rio Grande Valley Real Estate Forum Topic: Riverside Real Estate Forum Topic: Rochester Real Estate Forum Topic: Rockford Real Estate Forum Topic: Sacramento Real Estate Forum Topic: Saint Paul Real Estate Forum Topic: Salem Real Estate Forum Topic: Salt Lake City Real Estate Forum Topic: San Antonio Real Estate Forum Topic: San Diego Real Estate Forum Topic: Sandy Springs Real Estate Forum Topic: San Francisco Real Estate Forum Topic: San Jose Real Estate Forum Topic: San Luis Obispo Real Estate Forum Topic: Santa Fe Real Estate Forum Topic: Saskatchewan Real Estate Forum Topic: Savannah Real Estate Forum Topic: Scottsdale Real Estate Forum Topic: Seattle Real Estate Forum Topic: Short Sales Questions Topic: Short-Term and Vacation Rental Discussion Topic: Shreveport Real Estate Forum Topic: Sioux City Real Estate Forum Topic: Sioux Falls Real Estate Forum Topic: South Bend Real Estate Forum Topic: South Carolina Real Estate Q&A Discussion Forum Topic: South Dakota Real Estate Q&A Discussion Forum Topic: Southeast NC Real Estate Forum Topic: Spokane Real Estate Forum Topic: Springdale Real Estate Forum Topic: Springfield Real Estate Forum Topic: Stamford Real Estate Forum Topic: Starting Out Topic: St. Louis Real Estate Forum Topic: Stockton Real Estate Forum Topic: St. Petersburg Real Estate Forum Topic: STR Strategies Under Travel Restrictions Topic: Surprise Real Estate Forum Topic: Tacoma Real Estate Forum Topic: Tallahassee Real Estate Forum Topic: Tampa Real Estate Forum Topic: Tax, Legal Issues, Contracts, Self-Directed IRA Topic: Tax Liens, Notes, Paper, & Cash Flows Discussion Topic: Tempe Real Estate Forum Topic: Tenant Screening Topic: Tennessee Real Estate Q&A Discussion Forum Topic: Texas Real Estate Q&A Discussion Forum Topic: Thornton Real Estate Forum Topic: Toledo Real Estate Forum Topic: Topeka Real Estate Forum Topic: Tucson Real Estate Forum Topic: Tulsa Real Estate Forum Topic: Tuscaloosa Real Estate Forum Topic: Upstate New York Real Estate Forum Topic: Utah Real Estate Q&A Discussion Forum Topic: Vancouver Real Estate Forum Topic: Vermont Real Estate Q&A Discussion Forum Topic: Virginia Beach Real Estate Forum Topic: Virginia Real Estate Q&A Discussion Forum Topic: Waipahu Real Estate Forum Topic: Waipahu Real Estate Forum Topic: Warren Real Estate Forum Topic: Warwick Real Estate Forum Topic: Washington D.C. Real Estate Q&A Discussion Forum Topic: Washington Real Estate Q&A Discussion Forum Topic: Waterbury Real Estate Forum Topic: Westchester County Real Estate Forum Topic: Western NC Real Estate Forum Topic: West Gulfport Real Estate Forum Topic: West Virginia Real Estate Q&A Discussion Forum Topic: Wichita Real Estate Forum Topic: Wilkes Barre Scranton Real Estate Forum Topic: Wilmington Real Estate Forum Topic: Wisconsin Real Estate Q&A Discussion Forum Topic: Worcester Real Estate Forum Topic: Wyoming Real Estate Q&A Discussion Forum Topic: Yukon Real Estate Forum
Create post

Time of Year, Property Manager, or User Error?

45 Replies

  • Share on Facebook
  • Share on Twitter
  • Share on LinkedIn
Rotate Log in or sign up to reply
user profile avatar
Check Rosette Top Subjects:
Analyze Deals and Flipping
  • Posts 100
  • Votes 35

Nat Rojas
Rental Property Investor from Elkridge, MD

posted about 1 year ago

Time of Year, Property Manager, or User Error?

The property has been listed for 77 days awaiting for a tenant. My question: Vacant because Time of Year, Property Manager, or User Error?

Listing: 1053 Parksley Ave, Baltimore, MD - https://www.zillow.com/homedetails/1053-Parksley-Ave-Baltimore-MD-21223/36546090_zpid/

Time of Year: My optimism says the reason is the time of year, but at this point, something needs to change whether it’s the Property Manager, discounts/rewards (first month half off, etc.), or I need to lower the rental amount..

Property Manager: This is a property manager that was recommended via a real estate agent. Comes from a large company (based out of two different states) and has standard fees. He communicates well and is analytical. My fear is he is waiting for online leads versus taking action. I have a call scheduled to ask him directly to see what he has been doing specifically (which may remove any concerns I have).

User Error: Rent is too high. Currently at 1150. Rentometer shows Average $1085. MyRentRates: $1195. Rent Zestimate: $1195. PM says it’s good where it is. I asked him to lower it from 1200 à 1150 about 30 days ago.

What do you recommend my course of action? I have several lessons learned for the next rental, but encourage your wisdom and guidance as well. Any assistance is greatly appreciated!

Rotate Log in or sign up to reply
user profile avatar
  • Posts 6.1K
  • Votes 3.7K

Aaron K.
Specialist from Riverside, CA

replied about 1 year ago

@Nathanael Rojas I don't know what you expect them to do besides wait for online leads, you can't force people to rent your property, it is probably a mixture of seasonality and rent too high.  If you started too high, you lost most of your potential tenants in the first two weeks, now that you got to Thanksgiving things are really slow until after the new year.

Rotate Log in or sign up to reply
user profile avatar
Check Rosette Top Subjects:
Single Family and Residential
  • Posts 77
  • Votes 33

Justin Lanciault
Realtor from Washington, DC

replied about 1 year ago

I am on the train and bored, so here is my 2 cents:

1) House is small, therefore your tenant pool will be small.

2) I don't see this on the MLS, if I had a tenant, how would I know about it?

3) An even smaller house on the same street that is a 2/2, rented last December for 1250 (From the pics it did look nicer though). It took them 33 days but they got it rented. I listed something for rent in West Baltimore and we are in the process of finalizing payments, took 40 days but got my landlords number. Things do rent in the “off months.”

Final thoughts: I think your rent is reasonable, your PM isn’t working hard enough.

Rotate Log in or sign up to reply
user profile avatar
Check Rosette Top Subjects:
Analyze Deals and Flipping
  • Posts 100
  • Votes 35

Nat Rojas
Rental Property Investor from Elkridge, MD

replied about 1 year ago
Originally posted by @Aaron K. :

@Nathanael Rojas I don't know what you expect them to do besides wait for online leads, you can't force people to rent your property, it is probably a mixture of seasonality and rent too high.  If you started too high, you lost most of your potential tenants in the first two weeks, now that you got to Thanksgiving things are really slow until after the new year.

 Thanks for the response @Aaron K. 

After reading the response from @Justin Lanciault, apparently the Property Manager could also add it on the MLS? A quick Google search shows: Dealing/negotiating with the prospective candidates, networking/discussing the property with others..

Honestly, I'm not sure, hence why I'm reaching out to the BP community for feedback and guidance before I make any decisions.

You bring up a solid point regarding the first two weeks on the market. I'll be sure to remember that for the next one, especially if it's later in the year.

What would you recommend I do next, hold it out until Jan/Feb or lower the rent again?

Rotate Log in or sign up to reply
user profile avatar
Check Rosette Top Subjects:
Analyze Deals and Flipping
  • Posts 100
  • Votes 35

Nat Rojas
Rental Property Investor from Elkridge, MD

replied about 1 year ago
Originally posted by @Justin Lanciault :

I am on the train and bored, so here is my 2 cents:

1) House is small, therefore your tenant pool will be small.

2) I don't see this on the MLS, if I had a tenant, how would I know about it?

3) An even smaller house on the same street that is a 2/2, rented last December for 1250 (From the pics it did look nicer though). It took them 33 days but they got it rented. I listed something for rent in West Baltimore and we are in the process of finalizing payments, took 40 days but got my landlords number. Things do rent in the “off months.”

Final thoughts: I think your rent is reasonable, your PM isn’t working hard enough.

 @Justin Lanciault I do appreciate your time and energy to compose a response.

I'll be sure to ask my PM about the MLS.

Regarding your final thoughts: My PM will next recommend either spending $100-150 for professional photos and/or offer a discount for the first month to entice applicants. Thoughts?

Should I have any concern regarding my PM?

Rotate Log in or sign up to reply
user profile avatar
Check Rosette Top Subjects:
Single Family and Residential
  • Posts 77
  • Votes 33

Justin Lanciault
Realtor from Washington, DC

replied about 1 year ago

Tbh this is a conversation you should of had with him before putting the house up for rent. Good PM’s (Outside of the gentrifying areas) in Baltimore are hard to come by.

Regarding pictures, they are sloppy, but I used cell phone pics for my listing - just made sure to showcase all the fine points and how big the rooms are, etc

Rotate Log in or sign up to reply
user profile avatar
Check Rosette Top Subjects:
Analyze Deals and Flipping
  • Posts 100
  • Votes 35

Nat Rojas
Rental Property Investor from Elkridge, MD

replied about 1 year ago
Originally posted by @Justin Lanciault :

Tbh this is a conversation you should of had with him before putting the house up for rent. Good PM’s (Outside of the gentrifying areas) in Baltimore are hard to come by.

Regarding pictures, they are sloppy, but I used cell phone pics for my listing - just made sure to showcase all the fine points and how big the rooms are, etc

Could you elaborate on "this conversation"? What exactly should I have said/asked/requested regarding putting a property up for rent. Don't know what you don't know. I suppose I assumed the PM would do everything necessary to get the property rented as he will then get paid and then deal with the tenant. 

Rotate Log in or sign up to reply
user profile avatar
Check Rosette Top Subjects:
Single Family and Residential
  • Posts 77
  • Votes 33

Justin Lanciault
Realtor from Washington, DC

replied about 1 year ago

@Nathanael Rojas

1) Do you personally have a rental portfolio? How many? Where?

2) Why are you in property management?

3) What are your goals as a property manager? Short-term? Long-term?

4) What is the process for listing my property for rent?

5) Do you manage properties similar to mine? In the same neighborhood? What makes that neighborhood attractive to renters?

6) What’s the average price? Can you back that up with data?

7) How long will it take to rent? Data?

8) Where will you be posting the property? Why?

9) Do you have tenant leads that you follow up with? How many? How often?

10) Do you work with realtors and advertise the property to them? Why or why not?

Rotate Log in or sign up to reply
user profile avatar
Check Rosette Top Subjects:
Single Family and Residential
  • Posts 77
  • Votes 33

Justin Lanciault
Realtor from Washington, DC

replied about 1 year ago

I am assuming 1st month’s rent to the company upon execution of the lease?

Rotate Log in or sign up to reply
user profile avatar
  • Posts 6.1K
  • Votes 3.7K

Aaron K.
Specialist from Riverside, CA

replied about 1 year ago

@Nathanael Rojas to me putting a property on MLS is part of the reason I pay a leasing fee and is expected every time, especially if you don't get traction early.

Rotate Log in or sign up to reply
user profile avatar
Check Rosette Top Subjects:
Rentals, Single Family, and Taxes & Accounting
  • Posts 286
  • Votes 153

Jermell Shavers

replied about 1 year ago

@Nathanael Rojas I can tell you personally it’s most likely the time of the year nobody moves during the busiest time of the year. Ask yourself would you want to move in the cold and when family is coming in town probably not if yo think it will help lower your rent but it’s for sure this time of the year.

Rotate Log in or sign up to reply
user profile avatar
  • Posts 571
  • Votes 447

Joe Norman
Investor, Realtor from Baltimore, Maryland

replied about 1 year ago
Originally posted by @Aaron K. :

@Nathanael Rojas to me putting a property on MLS is part of the reason I pay a leasing fee and is expected every time, especially if you don't get traction early.

I'll second this. If your PM didn't put it on the MLS as part of their standard marketing package then I would look for a PM who is more professional and serious about getting your property leased.

 

Rotate Log in or sign up to reply
user profile avatar
Check Rosette Top Subjects:
Real Estate Finance, Traditional Financing, and Single Family
  • Posts 147
  • Votes 62

Kyle Deutschmann
Lender from Baltimore, MD

replied about 1 year ago

@Nathanael Rojas hey Nathanael, I dont personally own anything in Baltimore, but last time I talked to a PM there he told me he always lowers the rent by 100-200 if they have to find a tenant in the wintertime. Less people are moving at this time of year when its dark, cold, in the middle of the school year/holidays etc. Id recommend trying to find someone to rent it for a little less on a 6 month lease then try to get into a cycle of renting for a year starting in the summer. Best of luck! Kyle

Rotate Log in or sign up to reply
user profile avatar
Check Rosette Top Subjects:
Flipping, Rentals, and Team
  • Posts 249
  • Votes 155

Blake Dailey
Rental Property Investor from Panama City, FL

replied about 1 year ago

I am about to go through the same situation. I have rental property in the panhandle that is currently being renovated with expected completion next or the following week - so only weeks before Christmas. I know not to lower my standards and get a bad tenant, but am planning to lower the price to make it very attractive and hopefully rent by January. @Kyle Deutschmann I like the idea of a lease expiring during the summer, and I could charge the market rent then and be fine because after this reno it will be like a new home, but am worried about potential turnover if I raise the rent like that after a 6 month lease. Have you dealt with that in your units?

Rotate Log in or sign up to reply
user profile avatar
Check Rosette Top Subjects:
Real Estate Finance, Traditional Financing, and Single Family
  • Posts 147
  • Votes 62

Kyle Deutschmann
Lender from Baltimore, MD

replied about 1 year ago

@Blake Dailey hey Blake good to hear from you! its hard to say which route is best. Turnover/vacancy can certainly be a cash flow killer so youd have to compare what the total expected vacancy/turnover could cost vs. keeping the unit rented for less than its full potential to see which is most cost effective. You could also consider an 18 month lease to avoid the vacancy for a while and still end in the summer, but then of course you lock yourself into lower rent for that entire time. Hope that helps or at least gives some additional options to consider!

Rotate Log in or sign up to reply
user profile avatar
Check Rosette Top Subjects:
Flipping, Rentals, and Team
  • Posts 249
  • Votes 155

Blake Dailey
Rental Property Investor from Panama City, FL

replied about 1 year ago

@Kyle Deutschmann yeah man you too, hope you are doing well up there in TN. That’s a good point about the total turnover/vacancy cost- I’ll have to add that in compared to the opportunity cost of renting at a lower rate for longer time. Thanks for the advice! 

Rotate Log in or sign up to reply
user profile avatar
  • Posts 675
  • Votes 421

Mark Cruse
Investor from Fort Washington, MD

replied about 1 year ago

It can be multiple things but it may be nothing. That happens at times. 

Rotate Log in or sign up to reply
user profile avatar
Check Rosette Top Subjects:
Analyze Deals and Flipping
  • Posts 100
  • Votes 35

Nat Rojas
Rental Property Investor from Elkridge, MD

replied about 1 year ago
Originally posted by @Justin Lanciault :

I am assuming 1st month’s rent to the company upon execution of the lease?

Thanks for the additional questions @Justin Lanciault. 

Yes, 1st month's rent will go to the PM

   

 

Rotate Log in or sign up to reply
user profile avatar
Check Rosette Top Subjects:
Analyze Deals and Flipping
  • Posts 100
  • Votes 35

Nat Rojas
Rental Property Investor from Elkridge, MD

replied about 1 year ago
Originally posted by @Aaron K. :

@Nathanael Rojas to me putting a property on MLS is part of the reason I pay a leasing fee and is expected every time, especially if you don't get traction early.

I'll be sure to inquire with future PM's. Thanks for the response and explanation.

 

Rotate Log in or sign up to reply
user profile avatar
Check Rosette Top Subjects:
Analyze Deals and Flipping
  • Posts 100
  • Votes 35

Nat Rojas
Rental Property Investor from Elkridge, MD

replied about 1 year ago
Originally posted by @Jermell Shavers :

@Nathanael Rojas I can tell you personally it’s most likely the time of the year nobody moves during the busiest time of the year. Ask yourself would you want to move in the cold and when family is coming in town probably not if yo think it will help lower your rent but it’s for sure this time of the year.

Not always easy to place myself in the shoes of a tenant, @Jermell Shavers! 

It does make sense and I thank you for the opinion. It's nice to have someone confirm and validate the thought of "time of year". 

In your experience, is it a gradual increase in leads/desire/applications? Or should I plan for vacancy until Feb/Mar/April?

 

Rotate Log in or sign up to reply
user profile avatar
Check Rosette Top Subjects:
Single Family and Residential
  • Posts 77
  • Votes 33

Justin Lanciault
Realtor from Washington, DC

replied about 1 year ago

If they are collecting 1 months rent then they BETTER be doing more than throwing it up on their website and Zillow!

Rotate Log in or sign up to reply
user profile avatar
Check Rosette Top Subjects:
Rentals, Single Family, and Taxes & Accounting
  • Posts 286
  • Votes 153

Jermell Shavers

replied about 1 year ago

@Nathanael Rojas. It’s not in the place of a tenant it’s in place of a human being who wants to move in the winter time ? Tenants landlord nobody

Rotate Log in or sign up to reply
user profile avatar
Check Rosette Top Subjects:
Analyze Deals and Flipping
  • Posts 100
  • Votes 35

Nat Rojas
Rental Property Investor from Elkridge, MD

replied about 1 year ago
Originally posted by @Joe Norman :
Originally posted by @Aaron K.:

@Nathanael Rojas to me putting a property on MLS is part of the reason I pay a leasing fee and is expected every time, especially if you don't get traction early.

I'll second this. If your PM didn't put it on the MLS as part of their standard marketing package then I would look for a PM who is more professional and serious about getting your property leased.

 Great feedback, Joe. This definitely helps me understand what my expectations should be of a Property Manager. Through all the interviews and narrowing down to a top 4, it's still amazing to see how different they are.

 

Rotate Log in or sign up to reply
user profile avatar
Check Rosette Top Subjects:
Analyze Deals and Flipping
  • Posts 100
  • Votes 35

Nat Rojas
Rental Property Investor from Elkridge, MD

replied about 1 year ago
Originally posted by @Justin Lanciault :

If they are collecting 1 months rent then they BETTER be doing more than throwing it up on their website and Zillow!

Couldn't agree more! 

Rotate Log in or sign up to reply
user profile avatar
Check Rosette Top Subjects:
Analyze Deals and Flipping
  • Posts 100
  • Votes 35

Nat Rojas
Rental Property Investor from Elkridge, MD

replied about 1 year ago
Originally posted by @Kyle Deutschmann :

@Nathanael Rojas hey Nathanael, I dont personally own anything in Baltimore, but last time I talked to a PM there he told me he always lowers the rent by 100-200 if they have to find a tenant in the wintertime. Less people are moving at this time of year when its dark, cold, in the middle of the school year/holidays etc. Id recommend trying to find someone to rent it for a little less on a 6 month lease then try to get into a cycle of renting for a year starting in the summer. Best of luck! Kyle

Thanks for the message, Kyle! Two solid points. Instead of eliminating any acquisition during these months, utilize strategies (lower rent and shorter lease, for example) to continue purchasing, rehabbing and renting out during the winter months. I'll add this to the convo with my PM.

Rotate Log in or sign up to reply
  • 1
  • 2
Related Resources General Landlording & Rental Properties
Have Top-Notch Tenants? Here’s How to Keep Them
5 Essential Property Maintenance Tasks To Keep Your Rental in Tip-Top Shape
Rental Arbitrage: The Secret to Making a Fortune on Airbnb Without Owning Property
8 Reasons the Best Landlords Always E-Sign Rental Agreements
6 Tips for Listing Your Rental Property Online
Resources Read, see, and learn more!
Link Real Estate Investment Calculators
Link BiggerPockets Blog
Link Path to Purchase
Link Mortgage Loans
Link Find a Contractor
Link Real Estate Agents
Link Hard Money Lenders
Link Real Estate Listings

Top Contributors

Nathan G.
Nathan G.
Cody, WY
9.76
Score
Supada L.
Supada L.
6.9
Score
Joe Villeneuve
Joe Villeneuve
Plymouth, MI
5.87
Score
Bjorn Ahlblad
Bjorn Ahlblad
Shelton, WA
5.36
Score
Joe Splitrock
Joe Splitrock
Sioux Falls, SD
5.09
Score

General Landlording & Rental Properties Trending Discussions

  • Renting to a Instagram star?
    33 Replies
  • New Landlords, Inherited tenants, Upcoming renewal
    21 Replies
  • Must itemize to claim rental losses on schedule E?
    27 Replies
  • Is the Security of a Free & Clear Property Real?
    11 Replies
  • First rental turned out to be negative cash flowed.
    189 Replies
Log in Sign up

Log in

Forgot password?

If you signed up for BiggerPockets via Facebook, you can log in with just one click!

Log in with Facebook

Or
btn_google_dark_normal_ios Created with Sketch. Continue with Google

Let's get started

We just need a few details to get you set up and ready to go!

Use your real name

Use at least 8 characters. Using a phrase of random words (like: paper Dog team blue) is secure and easy to remember.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.

Or
btn_google_dark_normal_ios Created with Sketch. Continue with Google

Why create an account?

Receive a free digital download of The Ultimate Beginner's Guide to Real Estate Investing.

Connect with 1,000,000+ real estate investors!

Find local real estate meetups and events in your area.

Start analyzing real estate properties, we do the math for you.

It's free!

Explore

  • Membership
  • Community
  • Education
  • Marketplace
  • Tools
  • FilePlace
  • REI Resources
  • Perks
  • Glossary
  • Reviews
  • iOS App
  • Android App

Company

  • About Us
  • Press
  • Advertising
  • Careers
  • Stats
  • Contact Us

Important

  • Editorial Guidelines
  • Terms of Use
  • Rules
  • Privacy
  • FAQ

Social

  • Facebook
  • Twitter
  • YouTube
  • Instagram
© 2004-2021 BiggerPockets, LLC. All Rights Reserved.