What do the Expert Recommend for you to get a Tenant in Princeton Tx

Question

Experts/ Landlords,  Please what is your candid  advice

Second  investment property for rental  to regular tenant ( or Section 8)

Brand new single family home built in 2024 in Princeton TX 4bd 3 bathroom with new refrigerator, washer and dryer , i closed on the house last year September, I listed on Zillow before but the response was low , so i took it down . My realtor who closed the house for me as listed it on MLS as at February 21, 2025 , the house has been listed 44days on MLS at $2300/m . Up until this moment no tenant yet . What do you advice or recommendation

Kyle Mccaw · Answer

@Oladosu Segun

It’s great that you’re being proactive about getting your rental filled. A few key things to consider:

1. Market Timing & Pricing

Princeton, TX, attracts a lot of families, and many prefer to move during the summer to avoid disrupting the school year. If demand is slow, it’s worth re-evaluating the rent price. Look at similar 4-bed homes—are they also sitting vacant? If so, pricing might be a challenge across the market. If others are leasing faster, adjusting your rate or offering incentives might help.

2. Rental Pricing Strategy

Realtors often price homes based on sales comps, but rental pricing is different. A larger home doesn’t always justify a higher rent than a smaller home with a better layout. The real demand drivers are:

• Extra bedrooms vs. extra square footage (a 4-bed will rent faster than a 3-bed with more space).
• Functional layouts.
• Competitive pricing against active listings.

3. Marketing & Listing Visibility

• MLS Alone Isn’t Enough – Make sure the listing is also on rental-focused platforms like Zillow, Apartments.com, and HotPads. Some MLS systems don’t syndicate properly.
• Professional Photos Matter – Listings with high-quality photos drive more showings. If the images don’t showcase the home well, potential tenants may overlook it.
• Strong Listing Description – Highlight what makes the home stand out: “New build with washer/dryer, modern finishes, and spacious layout—perfect for families!”

4. Lease Incentives

If the market is slow, offering an incentive can help attract tenants faster:

• First month discounted or free with a longer lease (e.g., 13+ months).
• Reduced security deposit if they have strong credit/income.
• Including lawn care or utilities to make it more appealing.

5. Consider Expert Input

Working with a property manager or rental-focused professional can provide better insight into pricing, marketing, and tenant placement. Reviewing real-time rental data and understanding market trends can make a big difference in filling vacancies efficiently.

If your home has been sitting for 44 days, take a deep dive into pricing, photos, and competition to see where adjustments can be made. Hope this helps!

Michael Smythe · Answer

@Oladosu Segun why would you put a S8 tenant in a brand new property?

Your rent should be too high for their voucher!

More & more owners are posting here on BP about their rentals sitting vacant too long.

Which means owners aren't paying attention to the rental market - which is slowing, causing Days On Market (DOM) to increase:(

Take a look at the graph below from ShowMojo, comparing average DOM for 2018-2024.

DOM are now about 40% longer than they were 2 years ago.

Many owners also don't seem to be aware of real estate market fundamentals, such as seasonal effects:
1) After September, when kids go back to school, there's a noticeable dip in activity in both the sales & rentals.
2) After Halloween, there's another noticeable dip. Tenants, "go into Holiday-mode" and start spending disposable income (and racking up their credit cards) on Thanksgiving feasts & trips, Xmas presents & trips, and finally NYE plans.
3) Income Tax Refund checks start being received towards the end of February and corresponding, the rental market starts picking up again as tenants payoff their “Holiday Hangovers".
4) Spring Fever starts, sometime in April-May, causing both sales & rental markets to start picking up. Market activity continues to increase and peaks June-August when kids are out of school and parents don't have to worry about mid-term school transfers.

Finally, many owners only look at Agent/PMC pricing, so have never asked their PMCs enough questions about rental property marketing, showings, prospect screening and what information about all of it will be provided to them.

Here’s some questions we hope it’s not too late to ask:

• What websites does your property show up on when you Google the address?
- The best PMCs advertise properties on at least 20 websites.
- NOTE: FB Marketplace is difficult due to their strict policies (they really do NOT want PMCs advertising there)
• How are webviews, inquiries, emails and calls tracked, if at all?
• How are showings handled – agent-showings, open-house showings or self-showings?
- How are they tracked?
• How do interested tenant prospects apply?
• What’s their application fee?
• What is the PMC’s specific application screening process?
- What documents do they require applicants to submit & why?
• What feedback & data can your PMC consistently supply to you?
• When have you tested your PMC’s processes
- Click on whatever links you find on their ads to schedule a showing and start an application to see what happens!
- Many PMCs have processes designed to weed out non-serious prospects, but often these processes aren't adapted to the specific marketplace or changing markets.
• Since the PMC processes are NOT working, what are they doing to change it to improve results?

No PMC is perfect, so don’t rush to fire them until you have a serious conversation with them about all the above. How they respond and what they’re willing to adjust will tell you if it’s time for a change

Cole Bossert · Answer

If it’s been sitting that long, the market is telling you something—either the price is too high, or the demand isn’t there for that type of rental. Have you checked comparable rentals in the area? Even a $50–$100 drop can make a big difference. Also, are you offering any incentives, like a free month or reduced deposit? Section 8 could be an option, but it comes with its own pros and cons—more guaranteed income but also more red tape. If you’re set on market tenants, you might need to tweak the marketing, refresh the listing with better photos, or even consider a property manager to help get it filled. Have you had any showings or feedback from potential renters?