Property Manager · Westminster, CO · Member since 2018 · 486 posts · 110 votes
I currently have a property that I had listed for rent for $1550. I haven’t had much luck within a couple days, as I’m used to with my other listings, so reduced it to $1495. It’s been at $1495 for about a week now. I’ve had many inquires on property ie can we schedule a viewing, when can we see property, do you accept pets etc. the problem is, I’ll reply back to everyone but there is not follow-up. No one replies back. Why? What’s going on? I’ll ask when they want to see property and if they have a credit score of 600. Is it still priced too high? Any suggestions will help.
I bought a Ricoh gr3 because I didn’t want to hire a photographer. It’s essentially similar lens but more of a point and shoot.
Focal Length18.3mm (Approx. 28mm in 35mm equivalent focal length) Aperture: F2.8 to F16
From there you can pay an editing site to fix it up 15-30 per pic depending on if you want digital staging.
I also have an t5i but the Ricoh you can put in your back pocket and works great for wide angle real estate, so it was worth the extra few hundred for me. But if you don’t have anything and aren’t planning on shooting in general, a single point and shoot might be better for someone that only wants a cam for real estate rather than a bulky cam and swapping lens for a minimal difference in price. Up to the person at the end of the day.
Eli, this isn't the place for this discussion, but hey, we're here, so, yeah. I know you need significantly better wide-angle coverage than you would get with the Ricoh. I think you know it too, but you're still working on the sting of buying an unsuitable camera for the job with a $900 price tag. I can sympathize, trust me.
The Ricoh and your T5i have the same nominal cropped sensor, the APS-C, so we start by figuring out that the Ricoh has the 23.5x15.6mm version while the T5i has the Canon version, 22x14.8mm. The focal length of the prime Ricoh lens is 28mm in the 35mm equivalent. What the Ricoh delivers best is 24.24 megapixels, well beyond anything you would need in online work.
The T5i came with the stock 18-55 mm zoom lens, delivering 29.16 mm to 89.1 mm focal length (35mm equivalent). At its minimum, the Ricoh just barely outclasses it for wide-angle shots. However, Canon's 10-18mm zoom lens blows that out of the water, 16.2 mm to the same maximum as the stock lens.
Just as a discussion of megapixels is worthless here, a discussion of aperture and the Ricoh prime lens's clear superiority is almost as worthless -- no one shoots real estate without a tripod, and listing shots aren't exactly packed full of stunning examples of bokeh effects.
So let's just tell the OP the truth -- there is no such thing as competent point-and-shoot outta-my-back-pocket DIY real estate photography.
He's gotta buy a somewhat decent interchangeable-lens camera, learn how to use it, learn how to use at least a basic photo-editing package, get a good wide-angle lens, get a tripod, learn something about lighting, get some lights. The money he spends on this somewhat bulky equipment isn't really the problem, it's the work he'll have to do to learn photography.
You also stuck with online photo editing and digital staging as a realistic alternative. Come on, Eli. It always looks like crap.
You either pay a photographer whose work you like or you do a lot of learning yourself. And after you do a lot of the learning, there are very few pros whose work will make you happy and they are invariably not cheap.
I was lucky in that I came into this with a basic background.
Real Estate Agent · Hillsdale, NJ · Member since 2020 · 87 posts · 39 votes
5y
@Nadir M. Are compatible properties listing for the same amount? It looks in good shapes based on pictures, I think the pricing is the only issue. Also, maybe the timing but you’re definitely NOT in the slow season yet
I always price my houses based on the market, and what are mine competitors charging for the same-- and why would they pick mine? Your photos are average-- re-take them with an iphone, make sure all lights are on, shades are open, and then brighten it up. I disagree, you don't need to spend thousands on photography. You need nice exterior picture, invest in mulch, paint the front door-- give it some personality and curb appeal! The google image just looks blah, not exciting. Also-- put your pet policy/price in the ad, less emails if all the information is in the listing.
Your price needs to drop to $1300-$1400 or so to be competitive IMO. The ones $1400+ have way better curb appeal, and are fully renovated. You have a solid house, but you have to make someone look at your pics and say "wow, I love it-- how can I get this house?" instead I think people are like now.. for $1450, for $200 less , I will get the same area and be a few blocks away. I don't know your area, but that's just my perspective if I was a potential tenant.
Property Manager · Raleigh, NC · Member since 2014 · 728 posts · 596 votes
5y
@Nadir M.
Not a fan of the pics. Door frames are not picture frames. Most pics have the door frames taking up space. Also, I am personally not a fan of open closets. Also, if people are contacting you, but dropping off after you respond with credit requirements, guess what, their credit scores probably suck. Your lease requirements should be included in listing.
I would take better pictures, and give the description a little more pizzazz. Make it more professional looking.
Investor · Los Angeles, CA · Member since 2019 · 42 posts · 22 votes
5y
@Nadir M. Still 0 showings? I agree the pics are not great, but most likely the price is the #1 issue. In my market (Los Angeles), if I am having less than 3 showings per week, price needs to come down. I would reduce by $50 per week until it is rented. You could lose far more than $50 per month with runaway vacancy time. You're not there yet, but keep that in mind..
Also agree with @Curtis Mears, its a much more professional to include your criteria on the advertisement directly and not as a reply. That way, you have a fair housing compliant way of denying anyone who does not qualify.
I would try some blessing or incantations from a witch doctor or psychic medium....OR take well lit quality pictures of an immaculately clean/maintained unit and lower the price $50 per week and/or put wording that says something to the effect of OBO and/or be more flexible with your terms/criteria...but still use supernatural forces whenever possible!
Rental Property Investor · Los Angeles · Member since 2019 · 157 posts · 175 votes
5y
Are you / were you able to take better photos? The small things like putting away the fly swatter in the first photo or having an actual photo the front of the home (not just a screenshot of google street view) will make your listing look much more professional. You are trying to attract high quality tenants, not people looking for a mom and pop landlord they can easily take advantage of.
Vacaville, CA · Member since 2019 · 218 posts · 140 votes
5y
@Nadir M.
I have always taken my own photos and they are similar to yours in quality. Putting a few personal touches in the home like a vase of flowers in kitchen, a few prints hanging on walls, can help make it look more inviting. Hiring a professional photographer is something I’ve never considered. Most people looking for a rental probably already have a good idea of where your home is and if they are interested or not. My guess is that the price you are asking sightly higher than what people want to pay now.
Property Manager · Westminster, CO · Member since 2018 · 486 posts · 110 votes
5y
@Linda S.
You raise many good points. It’s sad that I used google maps for the front of the house. All those photos were from an iphone. My parents took them…I wish I was able to do some of the work myself, would have turned out differently. Not an excuse. The house does look better in person than what the photos show. I have a photographer going Wednesday morning to take some photos. I’m very curious to see how they will turn out. I’m confident that my issue is more the price than the photos…but photos def need work. The price for this house is supposed to be $1395. I think I’m asking a bit higher because the old tenant trashed this house and I did some work to it and added some new features that could get me a bit more in rent ie new sink, disposal, electrical panel, getting a garage door opener installed, new carpet throughout, fixed the incorrect washer connections downstairs etc. it hasn’t been an easy process but none of this still justifies what rent price house should be renting out.
New pictures should really help! Definitely spruce up the front, curb appeal is your first impression! I definitely understand that the tenants trashed it, trust me... I do!
It sucks you had to do all that, but look at it as a learning experience-- and personally, I only do month-to-month so if any tenant ever disrespects or trashes my house, I quickly give them a 30-day notice of non-renewal. I've only had to do this maybe 3-4x, so it's rare, but when I had to-- it made it sooo easy and quickly got a better tenant in! Maybe plan to have the property inspected every 6-months to ensure it's being taken care of ? Roll with the punches!
Property Manager · Westminster, CO · Member since 2018 · 486 posts · 110 votes
5y
@Linda S.
Once I get a tenant in there, I’m going to do a six month lease and renew towards beginning of summer. I’ve done this once before when I had to rent houses out in the fall or winter. This will also allow me to make sure they don’t trash it or that they somewhat care about house.
Property Manager · Westminster, CO · Member since 2018 · 486 posts · 110 votes
5y
@Tim Miller
Pictures will be updated professionally tmrw. I installed a garage door opener which is very appealing … but the lack of one isn’t appealing by any means. Trying to do some landscaping to hopefully help draw in some tenants
Our attorney advised us not to write "no section 8 tenants" since that is discriminating based on source of income (I am in California). The better thing to do is write "Verifiable income at least 3x the rent amount" and then the section 8 income is just another form of income. If they are legit on section 8 and not scamming the gov't, they will not qualify even if you accept it. Otherwise they would not qualify for section 8 in the first place.
Real Estate Broker · Houston | Dallas | Austin, TX · Member since 2018 · 5k+ posts · 2k+ votes
5y
Use Rentometer.com or BP Insight to have an idea of what the property will rent for.
If you don’t have access to either then use 90% of whatever Zillow Rent Estimate is for example, if Zillow says it will rent for $2000, then 0.9x$2000 = $1800 will be the most likely rent.
That been said, the best comparable is the one you get from an Agent because they have MLS access with a lot of data that will provide you the best result.
I’ve some some houses advertise 600+ credit score, small dogs only, NO SECTION 8 tenants…is that legal?
Nadir,
You need to look at your local laws regarding Section 8. I think some areas by law require landlords accept Sect 8, but I could be wrong. Here is the text from one of my properties including the requirements section.
Upon touring this home, you will appreciate the spacious tiled living room with decorative fire place. The open floor plan leads you into the well appointed kitchen. A formal dining room adjoins the kitchen and provides the perfect setting for family meals. The carpeted stairs leads to the large master bedroom with 2 closets and an en-suite bathroom. The bathroom combines a large soaking tub with a separate shower. Completing the upstairs are 2 additional bedrooms and bathroom. Moving outside, relax in the covered patio with ceiling fan and cable hook up or enjoy the fenced in back yard. Finally, finish up the tour by enjoying all the Hedingham amenities, which includes 2 outdoor pools, exercise room, yoga studio, indoor basketball court, tennis courts, and exclusive Hedingham golf privileges. Tenant is responsible for utilities.
Minimum requirements for tenants. They are: verifiable income of $5,550 per month, good reference for previous housing history, pass credit check over 650, no outstanding past due obligations, no recent (10 years) bankruptcies, a clean criminal record, and no previous evictions. If you meet these requirements, then please contact me for an appointment. The home is available to view immediately.
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