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Updated almost 6 years ago on . Most recent reply

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Laura Sciarrino
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7
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Rochester - South Wedge

Laura Sciarrino
Posted

Question for those of you who are familiar with the Rochester market - we closed on a 4 unit in the South Wedge area in January and we've been sitting with 1 vacant unit since then.  At first, the PM told us we were in the slow season for renters because of winter.  Ok - but now, we are in July and the unit still sits vacant.    

So my question is what is typical to expect from a PM in Rochester with this type of situation.  We're starting to think the problem is with the PM by not recommending a rate adjustment, ensuring advertising is in place or finding out what may be the problem with the unit so we can address it.  

Before jumping ship to another PM, we're trying to better understand the market.     Best websites for listing a vacancy?  How seasonal is the rental market in Rochester?   

If we do need to move on, any recommendations for a reputable property manager?

BTW, the unit is 2 bedrooms, 1 bath and recently renovated.  Initial rent was $1000.  Other units in the building are rented for more.   

Most Popular Reply

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162
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Alex Jones
  • Rental Property Investor
  • Rochester, NY
127
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162
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Alex Jones
  • Rental Property Investor
  • Rochester, NY
Replied

@Laura Sciarrino South Wedge usually a very attractive place to live, work and learn. I can’t imagine your unit remain vacancy that that long period of time. Possibilities are twofold: Price may not reflect the market or the PM may be too busy with more properties for management than necessary. These two I think are possible reason. My inbox usually packed when they is opening for my rental properties.

In fact one of my friend are seeking rental place and if it still available, please let me know. Inbox me what your place might be rent for.

Please review the price range for the area and take the advise from our colleagues above as well.

Alex

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