Please help...8 Weeks and Still Haven't Got New Tenant...Bulleen VIC

Just sent email to base discussion...with the following excerpt:

1) I am no longer happy with "Rental Enquiry range" specified in the ad. I need either a specific price of $380 or $390 specified so that it shows up on the main page with other property listings. The least I'd be happy with is the range of $380 to $400 as we are scaring off people in this market.

2) Two open inspections a week. One on Wed or Thu at say 5pm stated in the realestate.com ad. Update on the early the next day with an open on Sat. On Sat advertise the next Wed/Thu inspection.

3) Please contact all people that have inspected about the lower price expectation. I am now willing to accept $380 with no pets.

4) I would like to see the records of enquiries since Oct 1.
 
Quick update...no good news yet...but getting there I think.

Realestate ad at least has a smaller range, $350 to $400. PM wants to specify $350 so that we don't scare off lower range.

Open for inspection on Sat. Unfortunately Melbourne is having a bad day weather wise on Sat.........

Had two sets go through today at 12pm. Another 2 sets at 5:30pm. Don't think the 12pm will eventuate in application. Don't know about 5:30pm results.

Got only one interest from Gumtree...someone wanting 4 bedrooms and 3 bathrooms fully furnished for that price! :eek:
 
I don't understand if you requested to take away the price range, why they are insisting to keep it. Its not as if their strategies have actually rented the property. :confused: A range is a range is a range - big or small.

Are they trying to make a point? Or is there a 'Trading Places-like' bet happening in the background. Either way, this is a good advertisement for not employing these guys.
 
noisuf said:
Realestate ad at least has a smaller range, $350 to $400. PM wants to specify $350 so that we don't scare off lower range.
Click to expand...

So instead you attract those who are looking in the low range, and only prepared to pay the low range (like those sisters). I don't get it. :confused: I get this method in sales whereby someone falls in love with a property they will probably live in for a very long time, but I don't think many renters are going to fall head over heels for your property (no offence, I mean that as a general comment) and then be talked up by the property manager. :rolleyes: If the place is worth $390 and you won't consider less than $380, in my opinion this method of advertising is pointless, stupid and an absolute waste of time. Ask them how their method of 10+ years is working for them so far on your property... :eek:
 
Biggles said:
So instead you attract those who are looking in the low range, and only prepared to pay the low range (like those sisters). I don't get it. :confused: I get this method in sales whereby someone falls in love with a property they will probably live in for a very long time, but I don't think many renters are going to fall head over heels for your property (no offence, I mean that as a general comment) and then be talked up by the property manager. :rolleyes: If the place is worth $390 and you won't consider less than $380, in my opinion this method of advertising is pointless, stupid and an absolute waste of time. Ask them how their method of 10+ years is working for them so far on your property... :eek:
Click to expand...

I agree totally!! I have actually never heard of rental properties being advertised with a range. (ok well i have heard of it but it is pretty rare for good reason!!)

Tenants will always negotiate down, and very rarely up unless there are multiple applications for the property which in this case clearly there is not!
 
noisuf said:
Just sent email to base discussion...with the following excerpt:

1) I am no longer happy with "Rental Enquiry range" specified in the ad. I need either a specific price of $380 or $390 specified so that it shows up on the main page with other property listings. The least I'd be happy with is the range of $380 to $400 as we are scaring off people in this market.

....
Click to expand...

Why beat around the bush? I don't understand why you haven't explicitly told the agent to remove the range and specify a price. Instead, you've given them the option of two prices or even a smaller range. You need to grow some balls and figure out who's working for who! :eek:
 
Agree with PP

This range business is madness in a slow market.

If I were you I would tell them to list it at $380 or lose your business.
 
Oh noisuf

In case you missed it (& with all due respect)

GET RID OF THE RANGE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
 
russellpeter said:
Sorry M&M you are wrong get rid of the agent
Click to expand...

Yup!

Completely agree, but I think noisuf is a softy, (like me)...it's hard sometimes when people bulldoze you or use their smoke & mirrors BS.

Cut your losses, let them know you've had enough; they've had property for 'x' amount of time & nothing, so you're taking it off them.

I'm pretty sure, (Russell will correct me if I'm wrong), you can just approach new agency & they do all the takeover stuff without you having to confront current agent (if confrontation's hard for you).

I really do sympathise as I find it hard 'offending'/confronting people too. But this is your money on the line here....2 months with no rent....I'd be hitting the panic button hard. Enough's enough....just imagine them laughing about you in the office if that helps to get your hackles up & your walking shoes on.

All the best noisuf :)
 
mary&mat said:
Yup!

Cut your losses, let them know you've had enough; they've had property for 'x' amount of time & nothing, so you're taking it off them.

I'm pretty sure, (Russell will correct me if I'm wrong), you can just approach new agency & they do all the takeover stuff without you having to confront current agent (if confrontation's hard for you).QUOTE]


M&M

I Agree 15min of your time and you can have a new agent and you shouldn’t be out of pocket. and will not need to contact your current agent.

it’s a no brainer in your circumstances
Click to expand...
 
russellpeter said:
Sorry M&M you are wrong get rid of the agent
Click to expand...

I just checked up on the agent, and they appear to be no fly by night outfit, having been established in 1977.

Like his mate across the Yarra, Ian Reid, they appear to use the Pilling Buyer Raged(R) system that they describe as 'new age selling' and 'most advanced in the world' http://www.colinknight.com.au/about-us/pilling

However unlike Ian Reid, the agent wants to be Robinson Crusoe and try price ranges on tenants.

As has been demonstrated above it's not working.

Possibly because tenants are overwhelmingly consumer and retail oriented. Their main financial dealings are buying things from shops where everything has a price tag and it's take it or leave it. Things without a price tag are shunned. That's certainly the case with me when I enter an eatery without a visible price board - I'm out there like a rocket. Maybe I'll make more effort when spending a bit more (eg buying or renting a house), but don't count on it.

Potential tenants could well be fairly high income (especially in Bulleen) but may still lack a confident business/deal-making/everything's negotiable mentality where fixed prices are less important as the buyer has done their homework, knows what it's worth and will haggle accordingly.

But for 99% of tenants it's not worth the hassle when there's 20 other properties that don't need that effort available.
 
Tenants come and go all the time.
You have a vacancy..and every week is costing you a lot of money that will take time to recoup.

We have a 3 bedroom unit coming available.Sometimes people are only wanting a 2 bedroom.On these occassions we rent the 3 bedroom as a 2 bedroom. We let the tenant tell us which room they do not want, and put a lock on it.
Yes, we are losing money for the time they are there, but if it was vacant for a month, it would take us 6 1/2 months to recoup and break even.
Should they ever want the third bedroom, we abolish the old lease and write up a new one, at the new rate.
 
Spiderman said:
I just checked up on the agent, and they appear to be no fly by night outfit, having been established in 1977.

Like his mate across the Yarra, Ian Reid, they appear to use the Pilling Buyer Raged(R) system that they describe as 'new age selling' and 'most advanced in the world' http://www.colinknight.com.au/about-us/pilling

However unlike Ian Reid, the agent wants to be Robinson Crusoe and try price ranges on tenants.

As has been demonstrated above it's not working.

Possibly because tenants are overwhelmingly consumer and retail oriented. Their main financial dealings are buying things from shops where everything has a price tag and it's take it or leave it. Things without a price tag are shunned. That's certainly the case with me when I enter an eatery without a visible price board - I'm out there like a rocket. Maybe I'll make more effort when spending a bit more (eg buying or renting a house), but don't count on it.

Potential tenants could well be fairly high income (especially in Bulleen) but may still lack a confident business/deal-making/everything's negotiable mentality where fixed prices are less important as the buyer has done their homework, knows what it's worth and will haggle accordingly.

But for 99% of tenants it's not worth the hassle when there's 20 other properties that don't need that effort available.
Click to expand...

what a Joke

I understand what they are doing when selling but this is rentals different game

also

see the link to the property,

http://www.realestate.com.au/propert...leen-404908538

see the photo of the window Why?

some times less is better if a tenant can see everything on an ad it only takes one think they don’t like to move onto the next ad

in this case the kitchen is little dated remove

I would only have photos in this order and pay the money to get professional photos done please you will have the copy for life making it easier to rent every time.

front of the house
Balcony
view
lounge room
2nd photo of lounge other direction as it’s a feature or the house
bedroom 1
bedroom 2
back yard
and from the back corner of the back yard looking at the house if it looks good

and if you are not going to get $450pw for this property and you are not going to take $350 why have it there.
 
The Y-man said:
Must say, the rental market seems to have really cooled for inner Melbourne - our 2BR in Parkville been vacant for 5 weeks! :eek: Hardly anyone coming through to look.

The Y-man
Click to expand...

My friend is having problems renting his IP in Melbourne as well, it's been on the market for over a month. :eek:
 
cloudyday said:
My friend is having problems renting his IP in Melbourne as well, it's been on the market for over a month. :eek:
Click to expand...



Post the link and I’ll give you some feedback

what a lot of people forget is first impressions count and most agents will use this line if the property is dirty or needs some work done.

but in my eyes the first impression is the web ad it’s what the tenant see’s first.

The tenant is not going to show his friends the ad if it’s looks like a piece of crap.

why is PM marketing so far behind sales?

Most agents will not sell a property without getting professional photos done. Why should it be any different for PM

As you can tell it really gets to me especially when I see ads with one photo that was taken from RPdata and a script with one sentence saying available now,

And when the owner asks why it’s not rented the feedback the agent gives is the markets slow you need to drop your price.
 
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