All Forum Posts by: James H.

I bet the Plano home is not in that price range, though.

Originally posted by @John Chapman:

@James H. Yeah, I read your post last week and wasn't sure what to make of it since I don't own condos. I could definitely understand your experience if your main competition is other apartments. I'm an SFR guy, though. In that market, my perception/experience is that, while rental increases are slowing down, there is still red hot demand at the right price point.  If you've got a $1000-$1500 house that's not in the hood, nice, and at market rent, it will rent in a matter of hours/days.  When you go a lot above that price point, you've got a much smaller pool of renters.  I should say that I'm only in Dallas and Tarrant County now, though I used to have 2 in Plano until last year.  

I think there is an overall slowdown.  I posted a similar story about a condo in North Dallas.  Beautiful photos.  Well below competition listed on Zillow, Hotpads, etc.  Almost $100/month less than the RentOMeter average and more than $50/month less than the Zestimate.

Yet, we get no more than 4 or 5 inquiries per week.  Most are not serious.  Less than 5 showings over the course of 60 days.

The market is changing.

Originally posted by @John Chapman:

You're going to need to share more details.  Address?  East side or west side of 75?0 Photos?  What's your price point?  How's it stack up to the competition? Zestimate?  (It's stupid but tenants look at that and use it to see if you're overpriced.)   99 times out of 100, it's just a matter of  price.  I see you're out of state. When's the last time you physically visited the property?  

Originally posted by @Renee Harris:

Originally posted by @James H.:

Obituaries.  You will work harder but will get leads that nobody else gets.

 How so? They'll eventually become probates and published information.

Originally posted by @Mark Pedroza:

Originally posted by @James H.:

Obituaries.  You will work harder but will get leads that nobody else gets.

 But no passing out business cards at funerals!!

We got quite a few calls yesterday and two people asked for applications.  It is still not leased.  But, the pictures definitely helped significantly.  Lesson learned.

Originally posted by @Hao Dinh:

@James H. Good luck on your rental James. Let me know how it goes because i was looking to buy a condo around that area next year to rent it out . How far is it to a&m dental school ? if you dont mind im asking how is the HOA there ? Thank you

How does it look now?

Originally posted by @Eric Kephart:

Nevermind on the address question. Pretty sure I found it.  If other things are actually going for what they're listed, you're definitely competitive on price.  And without knowing the actual building, that intersection is a really great location.  I'd pull the listing, get WAY better photos made (lighting and wide angle), and relist $75 *higher*.  Get it on every site possible.  Remove the html break tags and the boring details about background checks, etc from the description.

Of course, nobody would ever know if it did have something like a rock feature - unless they call.


Originally posted by @Hunter Fitch:

Is there anything about your rental that stands out? I just rehabbed a condo and was beating wannabe tenants back with a stick because I spent about $1000 on a rock wall feature with a 50" TV in front of it. I'm able to get above-market rents (which quickly gets me my money back) in a very hot rental market by adding in a bit of eye candy here and there.