trouble renting out a townhouse, any advice? (Schaumburg, Roselle: real estate, apartment complex)

[tomoveornot]

We have owed a townhouse in Schaumburg for the past 6 years and have had no problems getting people to rent it. Our tenants left unexpectedly and we've had no luck in getting anyone else to sign a lease. Everyone who comes in seems to love it, says the price is right and that it's the best they've seen and then we never hear from them again. We are hearing that renters have a lot to choose from so they can be picky. We are only advertising on Craigslist. Does anyone have any advice or experience with rental units? Thanks.

[sueprnova]

you may want to accept pets... with an additional deposit, of course. Perhaps you're asking too much compared to the other availabilities in the area? Staging it wrong?

[purplesky]

Can you show us the link with the pictures and description? Maybe we can help.

I agree about the pets, most people nowadays have some type of pet.

[tomoveornot]

I didn't know if I could post the link here, if that was against the rules! But, anyway, here it is:
1.5 bath,next to Conant HS,garage,washer/dryer (http://chicago.craigslist.org/nwc/apa/910670841.html - broken link)

This really stresses me out, having 2 mortgages. It's not like we can just sell it because no one is buying now either.

[Humboldt1]

I have a townhome in Itasca that I rent out. I use a realtor to get it rented. It sucks that I pay her $1000 to get it rented but it gets rented fairly quickly and I get a decent rent. The most it has ever sat empty is 1 month.

Craigs List is okay, but with the rental market being so soft, particularly for former owner-occupied units like townhouses, you should probably just pay to get the place rented. At $1075, you are pretty cheap and $1000 is cheaper than another month of the place sitting empty.

[Mamama Mia]

Can you offer it furnished? That totally sealed the deal for us.
Best of luck!

[chet everett]

Good suggestions as to using a more professional style of acquiring tenants via real estate offices -- the crossover in some offices is very helpful. If an agent knows of some one who needs to stay in the area for school or work and they are forced to sell or a client new to area that is not ready to buy either can be a good route for rentals. The "hard winter freeze" does not apply just to lawns and gardens -- spend the money NOW or be prepared to have your place vacant till spring...

I don't think there is anything wrong with renting a place furnished, but you have to realize there are some different segment of that market. Typically that includes things like the temporary work related trial transfer / corporate relo and the month-to-month aspects.

Strength of employment is generally a good yardstick for rentals, and I suspect with Moto cutting back that won't be good for the Schaumburg region, though there are many other employers out there, and some are in pretty good shape...

[irish setter girl]

I echo the comments about using a Realtor. What about advertising at a local apartment complex or community college? Most complexes are having rate increases come January and I'm sure your townhome offers more space for the money. I know this may sound like a dumb question but have you scouted the "wanted" section on Craigslist? There are many many people looking for a place to live, although this may be the crowd you are already showing the place to.

[purplesky]

I would also second the notion of posting it around town. A lot of people still don't use the internet. I would go to Valli's Produce on Roselle and post it. Also try Harper College and the local hospital posting boards.

I would also get rid of the picture with the stairs, it's not very attractive, and instead would put a picture of your patio or something more cheerful.

[chet everett]

Not to pile on, but those pictures are bleak. The barren bathroom with lowend vanity light bar, off-the-track bifold door with bare light bulb and stairway jut-in, lack of curtains and overall sterileness of the whole set of snap shots does not say 'rent me' so much as it makes potential renters dread having to give the place a little warmth/style...

Staging it with some nice towels, linens, window treatments and furniture so that people can see that there is room for a king size bed, effficient bathrooms, workable kitchen, dinner table, storage, cozy sitting /TV area would make a world of difference even if you do not rent it furnished...