#5 Medium-Term Rentals Contributor
- Investor
- Youngstown, OH
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Rental getting even less interest after lowering rent
#5 Medium-Term Rentals Contributor
- Investor
- Youngstown, OH
Hi BP! I posted a rental on Zillow, Craigslist, and FB 25 days ago. I gave over 10 showings and got many more messages from Zillow expressing interest who never responded to my replies. However, no one wanted to proceed with a lease. We were doing some work on the basement, and I did have it listed above market, so I decided to pull it off Zillow for a little while. I gave it a week and put it back up at a reduced rate. Its been several days, and I've gotten no interest. What could explain the lack of interest I'm suddenly seeing in my property?
Most Popular Reply
Check in with those who viewed your property and ask them for honest feedback. Make sure the property is ready to view, as many prospective renters can't see past work being done on a property. Also, check out the competition in your market area. See what they are offering and at what price point. There are slow times in the industry, like around graduation time. Things are likely to pick up in June and July. Good luck!