Trying to find a tenant - 44102

[Diana Costta]

Hello BP comunity,

I am working with my PM trying to get a tenant at my duplex in Cleveland 44102. It has been on the market since April. Are you seeing longer vancacies? What strategies did you use to market your unit faster? Did self showings help? Thank you.

[Bill B.]

I think any vacancy over 2 weeks is a problem but let’s pretend Cleveland’s rental market sucks and it should take a month..

There are only a few reasons to have a 3 month vacancy.  1) Advertising (Quality or location) 2) Pricing 3) Property condition.  Assuming you aren’t overriding your PM’s pricing suggestion, these are all their responsibility.  

Start with asking them how long their average vacancy is. Is it 3 months? (Sell or switch PMs.). Then why it’s not renting. They better not have an instant and exact reason like pricing unless they’ve brought it up to you before. They should be the experts that’s why you hired them. 

Then I would call 2 or 3 or more other PMs. Ask them to,look at your listing, tell them you’re frustrated with your current PM and what they would change if you went with them. It “HAS” to be pricing, condition or advertising.  

Lastly please tell me you ar using a PM that someone you know recommended and not a realtor or anyone else that does it on the side. You want someone with hundreds if not thousands of units.  

Even more lastly. It’s not too late to cut your losses and sell before school starts, the renters go away and winter/freezing temps arrive, or squatters.  

Rip the bandaid off. Fix the problem or sell the property. 

Ps. I just read your post to see if you missed anything. You shouldn’t be doing showings or really involved in the finding/screening/placement of tenants at all. That’s what you’re paying for.