Time of Year, Property Manager, or User Error?
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!