I'm struggling with getting showings for one of my student rental properties in Waterloo. The same kind of marketing that I've been using for the last few years isn't bringing people in through the door like it used to. I'm currently posting ads on Kijiji as well as the UW and WLU websites.
My prices are inline with my competition and my property shows well - if I can get people to come see it in the first place!
Here is my kijiji ad:
What should I do? I was thinking of perhaps advertising on Facebook. Craigslist has never really brought in many people. Are my pictures that terrible? Thanks!
I took a quick look at your ad, not saying that this is "the thing", but the second and third photos are poor. Lots of clutter, cheap furniture, photos all over the fridge etc.
Your ad is supposed to make people want to live in your property, and your photos basically say "All of this could be yours!" The other photos are very good, but I'd get rid of the clutter pics.
I hope this helps...
Thanks! I appreciate the feedback - one of the issues is that the place is currently tenanted (by students) and well, they're a messy bunch. :) I'm hoping to get new photos during the turnaround in a few months. I'll have it staged as well!
Waterloo is becoming saturated with student rentals. Companies like CHC and American Campus Housing are building 1000's of units, displacing many of the existing supply with luxury rentals. This is likely why you are having issues renting again. Same thing happening in London. Sell while you can, and interest rates are low, getting out at the top of this inflated market..
Yes, I have been seriously looking at selling the properties due to the large institutional investors that have moved into the area. One of the nice things about that property is it falls outside of the core student area and we often have normal tenants interested in renting.
I don't think pictures have to do anything with property not being rented. It must be saturated market like you guys discussed before. I see your ad is still active so I'm assuming it is still available. Is there any chance for you to rent it out as whole unit instead of rooms? Get long term tenants if possible. Can you have any cash flow with that?
I rented my property on kijiji in a week. Had 2 showings and third took it. Also some emails and phone calls after it was rented. Pictures weren't that great either.
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