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Pete M.
  • Financial Advisor
  • Issaquah, WA
134
Votes |
240
Posts

Vacancy dragging out - what are we missing?

Pete M.
  • Financial Advisor
  • Issaquah, WA
Posted

We have a duplex in the Cayce area that's been completely vacant for a couple months now.  We handed the property over to a PM, and while she's had showings, virtually none of those are being converted to applications (though the viewers are taking the actual form and seem to have positive things to say).  We started at $700/unit, but have since dropped to $650, and are even considering waiving the application fee for those who are ultimately accepted.  These are 3/1 units, though on the smaller end from a sq ft perspective.  Units have had some light rehab (paint, flooring in some rooms, countertops replaced).

Looking for any insights on what we might be missing... I know it's hard to say for sure without more details, and I know we're getting into the slow season for moves.

Thanks.

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