Investor · Member since 2020 · 49 posts · 34 votes
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.
Investor · Las Vegas, NV · Member since 2013 · 8k+ posts · 10k+ votes
2mo
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.
Investor · Las Vegas, NV · Member since 2013 · 8k+ posts · 10k+ votes
2mo
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.
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.
what market data do you have to support your "vacancy over 2 weeks is a problem" statement please?
From Google:
Nationally, the average time it takes to lease a vacant apartment is 41 days. For the broader housing market—which includes single-family rentals—days on market sits closer to 53 days. Slower leasing times are largely driven by high national vacancy rates. [1, 2, 3]However, rental days on market vary drastically depending on your location:
Midwest & Northeast: Cities like Providence, Hartford, Chicago, and Milwaukee have experienced some of the fastest-moving rental markets in the country due to constrained supply. [1, 2, 3]
National Hotspots: The New York metro area remains incredibly competitive, where typical asking rents are $3,406 and properties lease rapidly. [1]
Michigan Local Market: In Michigan, particularly the Detroit region, the rental market is stabilizing with rising inventory. This means renters have more options and "days on market" are generally longer compared to ultra-tight coastal
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.
Hi Diana, While I'm still building my network in the Cleveland market, I've noticed that many investors mention pricing, high-quality photos, and wide online exposure as key factors in reducing vacancy. If you haven't already, it may also help to review comparable rentals in the 44102 area to make sure the rent is competitive and consider offering flexible showing times. I hope you're able to get it rented soon!
Realtor · Cleveland/Akron OH · Member since 2019 · 140 posts · 91 votes
2mo
Hi Diana!
I am not seeing higher vacancies with my rentals. When one of our rentals isn't moving quickly, it usually comes down to one of these five things (or a combination of them):
1. Priced too high — even a little over market can stall a listing.
2. Poor photos — this is often the first thing that turns renters off before they ever reach out.
3. Weak marketing — the listing needs to be on every rental platform, not just one or two.
4. The leasing agent — renting a home is a sale, so having a proactive agent working it is a must, not a nice-to-have.
5. Time of year — most people don't want to move during the holidays or cold winter months. Most leases also expire in the summer, so I've found the prime renting window is June through August. This is not your issue here.
I've found that to rent a home as fast as possible, I take high-quality professional photos, post the home on every single rental site, and always pay to have the rental listing boosted. We also reach out to all of our current renters letting them know we have a home available in case they know of anyone looking!
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.
Hi, this is a "price fixes all things" situation. A quick google search tells me the broader Cleveland market vacancy is 7.2% that's ~26 days. If you unit is not rented in this timeframe, it is likely overpriced....
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.
How aggressively have you dropped the price?
Besides that, we find many of our local competitors (we're NOT in Cleveland!) aren't transparent with owners about where they advertise a vacancy.
Most just put it on Zillow, which includes Hotpads and Trulia.
So, you may want to look into how much EXPOSURE your vacancy is getting by Googling the address and seeing where it shows up - which may require you to dive 2+ pages into the search results.
Prospects are spending less and less time reading descriptions and just look at pics, so we've started putting all the major information right on the pics. - How good are the pics to begin with? - Is the description even interesting to read?
We offer 3D Tours and Floorplans to grab even more attention (costs owners extra though).
What numbers can your PMC give you regarding: Web hits Inquiries Showings scheduled Showings completed Applications
Yes, self-showings are more efficient & effective for 70-80% of prospects. - The result is more showings! - Some will still need hand-holding to schedule a showing and want to meet someone at the property:( - Just be sure your PMC has a "Vacant Monitoring" program where they consistently check to make sure the self-showing property is secure.
Investor · Las Vegas, NV · Member since 2013 · 8k+ posts · 10k+ votes
2mo
It’s just been my experience of 30 years with a dozen properties, probably only 70 vacancies. But only 1 exceeded 2 weeks, that was 4 weeks because of intentional damage. So my experience is very limited. But that’s why I tried to mention I didn’t know the Cleveland market. When do you think she should have been concerned? Day 42? Or not until well past day 90. If the average is 41 days some are going to have 0-1 day vacancy so some are going to be 80+ days, maybe there’s no reason for her to be concerned yet. That’s also why I asked her to contact local PMs and ask what their average vacancy length is. If they say 3 months then she has no worries.
But realistically I wouldn’t care. If I went weeks without contact from my PM about a vacancy. Especially suggestions and solutions I would be making those calls myself to other PMs. I think we can agree she doesn’t have a winner on her team now.
Ps. I see Ryan says the average vacancy for Cleveland is under 4 weeks. (Almost dead center between my 2 week experience and your 6 weeks average.) So she’s at triple that. That sounds bad.
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.
Happy to have you here! A few extra weeks of vacancy isn't unusual right now depending on the price point and competition, but if it's been sitting since April I'd start questioning whether it's a pricing or marketing issue more than the market itself. I'd compare it against recently leased units nearby, not just active listings, and make sure the photos, description, and first impression are strong. Self showings can definitely help if your PM has a good screening process in place since they give prospective tenants more flexibility. I'd also ask your PM how many inquiries, showings, and applications they've had. That usually tells you pretty quickly whether the issue is visibility, pricing, or the unit itself. Happy to connect and answer any questions you have!
If your PM relies mainly on Zillow or traditional MLS syndication, you are likely missing a huge portion of local Cleveland renters—Facebook Marketplace is essential in 44102.
For a Cleveland duplex sitting since April, I’d compare the listing’s total move-in cost and showing friction against a few truly comparable 44102 units before assuming demand is the only issue. Track inquiries, showings, applications, and the reason each prospect declines; that usually points to whether to adjust price, photos, screening terms, or availability.