I have a 4-plex and have had a 1 bedroom unit advertised for 2 weeks with little more than some nibbles. I've got it listed on Craigslist & Zillow for below market ($1084 in NE) and I just put in new flooring and granite counters. Any thoughts as to what else I can do to increase interest? https://www.zillow.com/homes/for_rent/Portland-OR/condo,apartment_duplex_type/2101304587_zpid/13373_rid/45.675242,-122.434044,45.411707,-122.874871_rect/10_zm/?view=public
@Brad Hammond A lot of private organizations, like Catholic Charities, Refugee Centers and Children Services, look for that type of rentals. Most of the times they guarantee the rent for a certain period of time and pay the deposit and rent for the tenants as well. They also voucher and take responsibility for the tenants not to damage the property.
I have used these organizations several times with very good experience.
Also offering incentives to rent, like one month free after they pay on time for 6 months, or low deposit, etc. might get more attention.
Nice renovation. I think location plays part of the reason. If you still don't see any traction one more week after, consider cutting the price below $1000. Another strategy is breaking up the sum into the rent itself and the utility bill back. For instance, $940 rent + $60 bill back. On paper, $940 rent sounds more affordable and appealing. And it makes a bit easier passing the income requirement on screening. Think about giving one month free with a 12 months lease contract as incentive. It's better off of having income to pay the mortgage than nothing. However, I would never lower the other requirements just for the sake of filling the vacant like eviction record, criminal history etc.