How do you rent a high end rental?

3 Replies

I have advertised a higher end rental property and I have had no interest, any tips? Any advise on somewhere  I can advertise that may reach my target audience?

How higher end is it? Is the area it is in have a decent renter pool? Or is everyone homeowners? 

Without seeing or knowing much about the property, I'd say you're either not marketing it enough, or it's overpriced. 

Get some really good photos, put it on the MLS, so other agents can see it, as well as the other 140+ websites MLS goes to.

Get an agent to do an analysis to find out the time on market for similar properties, that helps you strategize as well as use for indications for price reductions. You could also incentivize tenants with low deposit, or covering their water and trash bill. 

Typically, if you're not getting any response, you are probably overpriced. It is starting to get to the slower period to rent so maybe thats playing a part too. But at some point, if you're getting nothing, then you probably need to lower your price and see if that helps. 

The other questions I'd ask are if there are any other higher end rentals in that area and where are they priced? Have you listed it on MLS? When you start to get in that higher price range for areas that aren't really that high priced, you might need to find someone that has a realtor. Maybe someone that is looking to buy but that can't find quite what they're looking for yet still need a place to stay.

I'm seeing more of that in my price point where people are selling their homes and are so surprised they're getting their asking price, that they don't really have anything lined up to move into. And they don't like the prices they're seeing on the stuff thats out there.

You can list on cozy.co for free and they'll post it to MLS. Put in the ad that you pay realtors. If a realtor brings a tenant, pay them the typical fee (one month or half month depending on the area).

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