Spokane, WA · Member since 2017 · 23 posts · 27 votes
8y
Something is up, man. Vacancy is stupidly low in Spokane and honestly I could rent a 1970's mobile home in a run down, rat infested park for $750. I think there must be something with the marketing going on, or something glaring about the property. Are you showing it yourself? Or is someone else doing the showing? As a Spokane landlord, my gut tells me something isn't right about your situation, and it has nothing to do with the price. Go back to square one. If people know about your house being available, it should sit vacant for no more than a week, two max. Rental market in Spokane is hot.
Real Estate Agent · Minneapolis, MN · Member since 2016 · 361 posts · 296 votes
8y
I've asked friends and colleagues how they find places to rent, they all say FB marketplace. There's instant credibility because you can look at the poster's background history, and it's not anonymous.
You have to offer something of value to the tenants unique renting experience, even more so if it's a Renter's market. Do you:
have HIGH ceilings? Are they exposed, brick, made of wood,...?
close to a Bus Stop?,
within walking distance of a restaurant or coffee shop? Include their name.
is there grass in the backyard?
Is there a dishwasher?
DO you have heating? AC?
Use keywords in your description, but don't litter it with fake adwords to get attention (i.e. Cadillac, Calvin Klein, millionaire,...)
Include photos. Showings should be a "yep, it's what I thought, here's my EMD." because they know what they're getting.
Sorry if you're already doing these, they've helped my other landlord friends.
Rental Property Investor · Seattle, WA · Member since 2011 · 47 posts · 12 votes
8y
What if you lowered your rent? Even though you found comps at $750, the market doesn't seem to be taking it. Say $15 lower each week until you find someone? 3 months has cost you $2250 which is a lot of rent! It could be a combination of winter and too high of prices. I'd get someone in ASAP and either put them on a short (4month) or long (16month) lease to get you back to turning the unit again during the summer months.
Investor · Edmonds, WA · Member since 2015 · 44 posts · 8 votes
8y
Thanks Ben for the advice.
I totally was thinking the same thing about lowering the rent but thought I might attract the wrong people. I guess I'll just have to screen out the crazies.
Thanks for the input. I'll drop the tent this week.
Spokane, WA · Member since 2017 · 23 posts · 27 votes
8y
Something is up, man. Vacancy is stupidly low in Spokane and honestly I could rent a 1970's mobile home in a run down, rat infested park for $750. I think there must be something with the marketing going on, or something glaring about the property. Are you showing it yourself? Or is someone else doing the showing? As a Spokane landlord, my gut tells me something isn't right about your situation, and it has nothing to do with the price. Go back to square one. If people know about your house being available, it should sit vacant for no more than a week, two max. Rental market in Spokane is hot.
Diesel Mechanic/ Investor · Lake Stevens, WA · Member since 2017 · 35 posts · 13 votes
8y
I had my studio filled last week and the 1/1 downstairs has a renter ready when the update is done. We had it on trulia, and FB. $595 upstairs and $695 downstairs on maxwell & n Lincoln
Real Estate Coach · Coeur D Alene, ID · Member since 2013 · 458 posts · 295 votes
8y
@Creighton Bertrand, are you managing yourself from afar? The right professional manager would have paid for himself already be getting filled and solving a your vacancy issue.
@Jon Ehrlich is my primary choice. He has been awesome.
Investor · Edmonds, WA · Member since 2015 · 44 posts · 8 votes
8y
@Kyle Varner I was thinking the same thing that the vacancy was low. I've had it posted on craigslist and postlets.
I've been getting a lot of showing requests but everyone is flaking and only had about 10 showings.
@Levi McDaniel I haven't tried FB yet but think I'll add that to my list of craigslist an d postlets. Are you managing the place yourself? I'm over in Edmonds managing mine.
@David Clinton III You are too right! I'm just being stuborn/stupid right now trying to prove to myself I can do it. I want to learn what I'm doing before handing it off. But I'll definitely reach out to Jon. If he's anything like your handywomen he's got to be amazing. Say, you don't know of a tile guy do you? I need to patch a whole in the bath and Denise doesn't do that.