Rental Market
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Rental Market (by Desperate_landlord [TX]) Jan 23, 2023 9:05 PM
       Rental Market (by Hoosier [IN]) Jan 23, 2023 10:04 PM
       Rental Market (by MikeA [TX]) Jan 23, 2023 11:20 PM
       Rental Market (by Homer [TX]) Jan 23, 2023 11:45 PM
       Rental Market (by plenty [MO]) Jan 24, 2023 6:33 AM
       Rental Market (by GKARL [PA]) Jan 24, 2023 6:39 AM
       Rental Market (by Ray-N-Pa [PA]) Jan 24, 2023 7:11 AM
       Rental Market (by Frank [NJ]) Jan 24, 2023 7:53 AM
       Rental Market (by WMH [NC]) Jan 24, 2023 8:59 AM
       Rental Market (by Lola [OH]) Jan 24, 2023 12:08 PM
       Rental Market (by Lola [OH]) Jan 24, 2023 12:08 PM
       Rental Market (by Lola [OH]) Jan 24, 2023 12:08 PM
       Rental Market (by Ray-N-Pa [PA]) Jan 24, 2023 4:42 PM
       Rental Market (by myob [GA]) Jan 24, 2023 10:09 PM
       Rental Market (by Phil [OR]) Jan 25, 2023 6:05 AM
       Rental Market (by Robin [FL]) Jan 25, 2023 8:05 AM

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Rental Market (by Desperate_landlord [TX]) Posted on: Jan 23, 2023 9:05 PM
Message:

Hello y’all. How is current rental for single family houses? My property is in decent area of DFW. Recently remodeled but almost Zero good leads. I have priced it little higher than the market due to A++ condition. Listed on MLS and Zillow. MLS has only generated a couple of leads. Zillow has generated a very few inquires but most of them were absurd. Either they wanted to pay $1000 less per month or are no shows. Is it just me or over all Texas/nationwide rental market is slow? Should I sit back and wait for March? --47.186.xxx.xxx




Rental Market (by Hoosier [IN]) Posted on: Jan 23, 2023 10:04 PM
Message:

No, don't sit back! Check other ads in Zillow and elsewhere, call them and ask how much they are charging, look at pics of other rentals, try advertising other ways/places, offer referral bonus to other existing tenants, etc.

If you're above market, may explain it...unless it is an "A" property tenants won't pay for "A++ condition".

Ask a local realtor about recent market for selling, maybe it's time to sell? --99.92.xxx.xxx




Rental Market (by MikeA [TX]) Posted on: Jan 23, 2023 11:20 PM
Message:

You always need to be aware of your market. If you are in-fact a little over market then you need to reconsider your reasoning, it often costs you money to try and squeeze out a few extra dollars in rent.

Lets say the place rents for $2000 per month and you are about $200 above market so asking $2200. It will take you longer to rent the place, lets say 6 weeks rather than 1 week at the lower amount. At the end of 1 year you have collected 10.5 months of $2200 or $23,100 for the year. At the market rent you collected 11.75 months of $2000 rent or $23,500.

When the market is tighter, such as during winter, the vacancy may be even longer making the difference even higher. It's also been my experience that when you are above market rent you will have turnovers more frequently than when you are at market rent. Those cost significant $ as well.

My suggestion would be to move your rent back down to market rent instead of trying to squeeze every penny of monthly rent and having to wait for spring, you will be money ahead. --209.205.xxx.xx




Rental Market (by Homer [TX]) Posted on: Jan 23, 2023 11:45 PM
Message:

I am in DFW, North Tarrant to be exact. Yes, it has slowed down. I watch Zillow daily. The houses priced high they get very few hits, the low priced houses gets dozens of hits. Something I learned first hand on my last vacancy. I believe people are hurting. Eggs, gas, bacon and just about everything else in this economy is putting a strain on workers . --47.32.xxx.xxx




Rental Market (by plenty [MO]) Posted on: Jan 24, 2023 6:33 AM
Message:

Maybe solid renters are staying put. Offer a move in special or change it up. --172.59.xx.xxx




Rental Market (by GKARL [PA]) Posted on: Jan 24, 2023 6:39 AM
Message:

I'm encountering the same thing in PA. Inquiries are few and quality of the tenants is poor. I don't think I'll rent it till spring. --172.58.xx.xx




Rental Market (by Ray-N-Pa [PA]) Posted on: Jan 24, 2023 7:11 AM
Message:

If condition is awesome, but the location isn't so nice - it will be hard to fill. Only you will know this.

I find when I think the market is talking to me, that I should listen. If the market says you are over priced - waiting isn't normally a viable answer.

If I want $3,000 for a place that rents for $1,000 around here, I'll be waiting a long time before I hit that desired number. You might be off by 10% or more and in a softening market - that might be months of lost rent just to get that extra $100. Retaining that customer is where you make the money.

--24.101.xxx.xxx




Rental Market (by Frank [NJ]) Posted on: Jan 24, 2023 7:53 AM
Message:

We have the same situation here along

the Jersey Shore.

Not listed with a Broker. I did call the Broker of our local competition, pretty similar in price,, which I have followed

when they were up for rent over the past years, and they always listed with an agency. Called the broker and had a long talk.

We share the same experience. Terrible profiles for those inquiring. He was glad to have someone to vent with. It's gotta bit better...but still troubling. --173.63.xx.xxx




Rental Market (by WMH [NC]) Posted on: Jan 24, 2023 8:59 AM
Message:

My strategy has been to price as high as I think I can, then go a smidge higher, but stay equal to or under the next guy - as the next guys are all OVER-priced in my opinion!

There are a finite number of renters who are willing or able to pay absolute Top Dollar for a rental these days. Most know they are wasting their money, and most know if they can get a better deal they should. I want people who can live with my rent and won't be constantly searching for a better deal. --50.82.xxx.xxx




Rental Market (by Lola [OH]) Posted on: Jan 24, 2023 12:08 PM
Message:

Its better to get great repectable people with good situations at narket rent than &@%$ with a higher rent.

I prefer steady calm rent paid on 1st so i can get on with my life.

Ive had singles i passed by forgetting i owned them while others called everyday with personal financial or life problems.

Apartments always have specials. $500 deposit. Or 250 off the 12th month.

Change terms to if paid on the 1st rent is 1950.

Paid after the 1st rent is 2100.

Lower deposit few hundred dollars.

Or allow payments of

100 towards deposit during the first year.

Its winter.

Maybe people are waiting for income tax returns.

I usually have my rent at market rate since i want people to easily pay rent since they have a myriad of other responsibilities and i dont want my rent to be a major factor.

I want solid SANE, COLLECTIBLE people... dont hate me but i like small families.

Tiny or no pets.

Ive had people pay rent biweekly too.

--65.60.xxx.xxx




Rental Market (by Lola [OH]) Posted on: Jan 24, 2023 12:08 PM
Message:

Its better to get great repectable people with good situations at narket rent than &@%$ with a higher rent.

I prefer steady calm rent paid on 1st so i can get on with my life.

Ive had singles i passed by forgetting i owned them while others called everyday with personal financial or life problems.

Apartments always have specials. $500 deposit. Or 250 off the 12th month.

Change terms to if paid on the 1st rent is 1950.

Paid after the 1st rent is 2100.

Lower deposit few hundred dollars.

Or allow payments of

100 towards deposit during the first year.

Its winter.

Maybe people are waiting for income tax returns.

I usually have my rent at market rate since i want people to easily pay rent since they have a myriad of other responsibilities and i dont want my rent to be a major factor.

I want solid SANE, COLLECTIBLE people... dont hate me but i like small families.

Tiny or no pets.

Ive had people pay rent biweekly too.

--65.60.xxx.xxx




Rental Market (by Lola [OH]) Posted on: Jan 24, 2023 12:08 PM
Message:

Its better to get great repectable people with good situations at narket rent than &@%$ with a higher rent.

I prefer steady calm rent paid on 1st so i can get on with my life.

Ive had singles i passed by forgetting i owned them while others called everyday with personal financial or life problems.

Apartments always have specials. $500 deposit. Or 250 off the 12th month.

Change terms to if paid on the 1st rent is 1950.

Paid after the 1st rent is 2100.

Lower deposit few hundred dollars.

Or allow payments of

100 towards deposit during the first year.

Its winter.

Maybe people are waiting for income tax returns.

I usually have my rent at market rate since i want people to easily pay rent since they have a myriad of other responsibilities and i dont want my rent to be a major factor.

I want solid SANE, COLLECTIBLE people... dont hate me but i like small families.

Tiny or no pets.

Ive had people pay rent biweekly too.

--65.60.xxx.xxx




Rental Market (by Ray-N-Pa [PA]) Posted on: Jan 24, 2023 4:42 PM
Message:

Lola is correct in having a lower Deposit and full price rent. Deposits have to get returned where rents are never given back so if you discount one of the two - always discount the deposit --24.101.xxx.xxx




Rental Market (by myob [GA]) Posted on: Jan 24, 2023 10:09 PM
Message:

Never ever discount deposits-- it's your safety net for them doing what they are suppose to do.

example: your are trying to get 2200. your 100 more than others.

If you take a month to rent it-- you just lost 2200.00. If you rent it for 2100.00 it goes in a flash and all you've lost is 1200.00 for the year. So jack up the rent year 2 the extra 100.

Vacancy losses need to be looked at carefully. It's call penny wise dollar short. A month loss can't be reclaimed. --98.97.xxx.xxx




Rental Market (by Phil [OR]) Posted on: Jan 25, 2023 6:05 AM
Message:

It may be a regional situation..... or you are priced too high. Revue what MikeA & MYOB said... We keep our rentals mostly at the lower end of FMR (but not much) .. and seldom have a vacancy. Longest we ever had a vacancy was 5 weeks...end of November till after Christmas. --76.138.xxx.xxx




Rental Market (by Robin [FL]) Posted on: Jan 25, 2023 8:05 AM
Message:

I am experiencing the same thing here in Central Florida. I listed my rental property a couple of weeks ago on Zillow, FB Marketplace, and TurboTenant. I have gotten several non-viable "bites." Only one person who would have qualified looked at it, but he never returned the application.

I wanted to get it rented for Feb 1st, but most likely that isn't going to happen. --205.204.xx.xxx



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