[Meeshee]

My husband hired a property manager for our townhome and it is still vacant. We have had 2 tenants thus far, 1 year each lease. Between tenants the unit was vacant for only 2 weeks. Since hiring this property manager the unit has been vacant for nearly 8 weeks. I made my own advertisement on CL because the property managers advertisement was insufficient (she did not advertise that the unit had a garage nor did she post any photos). Is this a bad rental market? Or do we need to fire our pm?

The unit: It was built in 2005 and is a 2 bed/2bath with one car garage in a gated community with community pool. Roommate style floorplan, 1200 sq. ft., garage downstairs with upstairs living, tile throughout with upgraded carpet and neutral paint colors. It is not a bad unit and I can not figure out why it hasn't rented... Asking rent is $950...

Thank you for your thoughts!

[JM95]

Fire your property manager. Not posting photos, on CL is lazy.

[PinkString]

That description sure sounds alot like The Courts in Aliante, except that style square foot is just 1100 in there...maybe the price is too high? With home prices dropping so much, maybe the rent seems too high to some.

[aacole]

I recently have stopped looking at Craiglist. Waaaay to many scams going on there. It seems like at least 60% are "Rent to own" scams.

But seriously fire your PM. I wouldn't even look at a craiglist post without photos.

I like realtor.com to look for rentals as its mostly realtors and property management companies rather than individuals and scammers.

[sheriwx]

Definitely fire your PM. Whoever it is isn't doing his job. If you are asking for too much for rent, it's his job to tell you that so you know to lower it.

[Meeshee]

We are leaning towards firing her. I wouldn't look twice at an ad without photos either. I even offered to send the PM photos on day one, and the PM replied with "you don't need to do that, I'll take my own photos". I am so disappointed in the PM's services..... I feel like I could have done a better job myself....

[ManGoneADreamin]

If you want something done right, YOU HAVE TO DO IT YOURSELF.

Also, if you would have just lowered the rent to $800 2 months ago, you would have already got it rented out, and had an extra $100 at the end of the lease than what you're going to have even if you rent it out tomorrow at $950...

[trekwars2000]

Originally Posted by ManGoneADreamin

If you want something done right, YOU HAVE TO DO IT YOURSELF.

Also, if you would have just lowered the rent to $800 2 months ago, you would have already got it rented out, and had an extra $100 at the end of the lease than what you're going to have even if you rent it out tomorrow at $950...

Exactly what I was going to say. You need to get it rented ASAP even if it is just for 1 year at a loss. Each month it is unrented at $950 is a lost month of revenue.

[007 license to sell]

Originally Posted by Meeshee

We are leaning towards firing her. I wouldn't look twice at an ad without photos either. I even offered to send the PM photos on day one, and the PM replied with "you don't need to do that, I'll take my own photos". I am so disappointed in the PM's services..... I feel like I could have done a better job myself....

Your property manager needs to be agressive, the rental market is down right now for condos and town homes due to the fact that you can rent a single family home for what you pay in a condo or a town home.
The market has over built rentals right now which means you definitely need an agressive marketing plan. Best of luck

[Fastrudy]

Also, if you would have just lowered the rent to $800 2 months ago, you would have already got it rented out, and had an extra $100 at the end of the lease than what you're going to have even if you rent it out tomorrow at $950...

You need to get it rented ASAP even if it is just for 1 year at a loss. Each month it is unrented at $950 is a lost month of revenue.

Now I don't know the two posters above, and I don't wish to make any additional enemies here (got enough), BUT it seems to me that:
1)Lost revenue is not the same as taking a loss for that amount;
2)Assuming a one year lease then you make $1800 more per year at the higher rent;
3)I don't recall the original poster saying that it had to be rented ASAP;
4)You are not interested in renting it for a LOSS;

My rental unit stayed vacant for 80 days before it was rented at the listed price through a PM. I would hang in there. But that is just me.