--149.76.xxx.x

--184.4.xx.xx

If you hire out, it is the same story. I lose my profits, they may "fill" and run,etc. Yes, good applicants are out there and they are the ones who aren't really looking until thier leases are up. I won't hand my business over in the same respects that I won't give a stranger the keys to my house or access to my bank account. I feel it us the same. --73.230.xxx.xx

The low quality peeps are "moving down". Just another indication of a stagnant economy. --198.168.xx.xxx

It's not marketing, at least not here. The local PMs advertise on my FB group and they have the same issues we do: competing for the fewer and fewer decent tenants. --173.28.xx.xxx

ALSO pets should be ALLOW pets. --173.28.xx.xxx

This doesn't seem too likely, given how familiar people are with searching the internet for deals. Just wondering. What would it take to be listed on the realtor site? --68.229.xxx.xxx

I am dropping rents to fill vacancies. --174.240.xxx.xxx

Sure, we say "bring donuts" - but really, to whom? How do you find the right person & get them onboard? --68.229.xxx.xxx

--172.59.xx.xxx

I just advertised a top tier property below market value and saw similar results. People just aren’t moving right now because they’re locked into a lease where the landlord hasn’t been keeping their rents up to market value. I ask every prospect what they’re currently paying in rent and the VAST majority are way less than my prices. --172.58.xxx.xx

Also do you think folks have low interest loans so are staying out, not moving up ? Also those who move for jobs perhaps were home owners, with low interest loans and selling for high profit in equity when they sell so they are re investing in real estate. --172.59.xx.xxx

Paying for all those EVs that govt. wants them to buy. --173.61.xxx.xxx

The good applicants have no shortage of choices and they're in short supply. In this market, we're all stiffly competing for them as a result. Last summer in this same building, I filled a vacancy with no gap between the old and new tenants. Snagged a Phd engineering student and she's been great, however her lease is up is up in July. She replaced a tenant who sold a home and relocated here in 2021. They stayed for a couple of years before buying another place. Those sorts of tenants are simply not out there now. Perhaps they will be this summer, but I've decided to go another route and reduce my exposure to residential rentals. --209.122.xx.xxx

Some of my rentals, it seemed like pigs had been there but they were 2 legged! --216.126.xx.xxx

In California the ratio is now meet 10 to find a 10. --146.70.xxx.xx

BTW and not to be Chicken Little, but now is the time to sell and deleverage if you need to. Rent prices are sticky now like home prices, but once this problem is realized more broadly, I feel there will be a rush for the exits. Everyone and his mother has bought up real estate thinking its a slam dunk. As I said yesterday, I'm not excessively leveraged but that can't be said for many of the new players who've overpaid. No one has factored in steep rent concessions and long vacancies into their numbers. Frustration for some of us is economic disaster for others. I just think they'll be a reversion to the average historical rate of growth in both rent and home prices. --209.122.xx.xxx

We place our ads on Zillow - works well for us. However, we have to screen through 20 to find and approve a good tenant. Lots of riff-rapp out there; our standards are high. --24.4.xx.xx

They had friends who had visited them at my rental and the friends loved the place. I did my due diligence on the friends investigating rental history, background checks, criminal checks, home inspection and months of bank statements. I did an inspection of the property with the tenants that were going to leave and discussed issues I would be charging them for, then discussed with the arriving tenants that I would make the minor repairs after I returned, and collected their rents and deposit money, signed rental agreements, etc. While I was in Europe, the first set of tenants moved out on a Saturday and the others moved in the following day. Two weeks later, I returned and did a few days of minor repairs. --73.2.xx.xx

At this point, I would be marketing a unit you may or may not have an opening and create a waiting list for it. Do it for 1, 2, 3 and 4 Bedroom units. If you don't have enough to make the marketing worthwhile, then team up with other local investors --24.101.xxx.xxx

I agree with Jason...however I shake my head in disbelief when the dregs who are (possibly not) paying half of what market rent is at their current place want to move! More like they are being evicted from a place that is at half of market rate rent so that the owner can sell. --172.58.xxx.xxx

What I am seeing a lot of, and am sick and tired of, is the people with the caviar taste on the tuna can budget. These people expect top-notch, but don’t even qualify. When I started close to 20 years ago, I would deliver the absolute best house that I could, now I refuse to. I get it to a point where I’m good enough with it and they can take it like it is or they can live somewhere else. That might add to extended vacancies but I don’t care. If they expect top-notch, they have to deliver on their end to show me they’re worth it. I don’t see that much anymore. --174.240.xxx.xxx

I guess what I should mean by that is the market is not reciprocating my original intent when I first started doing this. So I’m scaling back what I offer as well as my price. --174.240.xxx.xxx

Doesn't pay to over improve especially in C class. Lots of dregs expecting the Taj Mahal but don't want or can't pay for it. So they p1$$ and m0@n about where they are but love those bottom basement prices. --64.246.xxx.xx

The good ones bought a house, the bad ones can't. --76.129.xxx.xx

Early on in my RE career there was a severe downturn locally associated with a bust cycle in the oil and gas industry. Similar to what some are experiencing today, I had significant trouble keeping my units filled. I had to get creative for a few years to get through it. I did things like post ads on the bulletin boards in the nurses areas at the hospital (actually I paid a nurse to do it for me). I was targeting the well paid, stable tenants in ways others weren't(yes that's been a while ago). I went over and above the competition in cleaning. I paid to have the windows cleaned inside and out while my competition was just showing broom clean properties. I printed my fliers in color with pictures when everyone else was using black and white printed text. My point being, and as Billy Ocean recorded, When times Get Tough the Tough Get Going. If not you will become a casualty of the turning tide. --209.205.xxx.xx

I get great applicants who are moving into my area for new jobs. That's pretty much it, Perhaps occasionally, a decent applicant whose landlord has decided to cash in and sell the rental property but that doesn't happen often. --76.178.xxx.xxx

The other was my only Zillow ad. This tenant was driving and got a ding on her phone about the place. She pulled over and shot me a response right then. She had moved back with her parents while her BF finished his last year of college in Minnesota. Timing was a little off for them but they rented the place a month earlier than they planned because it was perfect for them. --107.147.xx.xx

Sisco, I continue to propose that the good ones are staying put because rental rates are jacked up higher than what they pay. Your target audience is not looking to live into my community w a poverty rate of 28%. It's boogyland to them. Doesn't matter if I curate my units to attract them. In my B property city I have a resident that has been trying to buy a home for two years. They loose the bidding war every time. Plus in NY we have to select VERY CAREFULLY. Even seems like Brad is observing worse conditions if he's promoting app fees for the masses as a way to get by. --172.59.xxx.xxx

--149.76.xxx.x