wanting a tenant

[rollyt]

I have been trying to rent my property out for last 4 weeks and to no avail
i have had few enquires but nobody really interested. I have got it with 3 real estate agents in Kiama [NSW] and one property manager told me they have plenty of rental properties but very few tenants.
I have advertised in the local papers had a few enquires but no tenant
This is the discription i have put in the papers for thelast 4 weeks
i have a Immaculate 4 Bedroom house with ensuite,
Family Room, Pergola, Dishwasher, Garage ,Level yard ,fully fence.
rent$300 per week.

regards rolly

 

[Simon]

What can you change to make the property more attractive/available?

Obvious one is price? Another is Property Manager? Advertising? Facilities? Presentation?

You are the best placed to think of some more.

If the market is tight then you need a point of difference?

Maybe a 6 month contract at a cheaper rent with a view to upping it next Jan/Feb when demand should heat up?

All the best,

 

[karina]

Obviously dropping the price is an option ( $280.00 per week is better than nothing)
What about $280.00 plus a weeks free rent to get people through the door.

Or you could advertise it at $300.00 negotiable with 1 weeks free rent.

 

[Monopoly]

I have been trying to rent my property out for last 4 weeks and to no avail
i have had few enquires but nobody really interested. I have got it with 3 real estate agents in Kiama [NSW] and one property manager told me they have plenty of rental properties but very few tenants.
I have advertised in the local papers had a few enquires but no tenant
This is the discription i have put in the papers for thelast 4 weeks
i have a Immaculate 4 Bedroom house with ensuite,
Family Room, Pergola, Dishwasher, Garage ,Level yard ,fully fence.
rent$300 per week.

regards rolly

Hey rolly,

Why not try rewording your ad. IMO it doesn't have any "stand out" or "wow factor" about it. Perhaps you could opt for something along the lines of:

Neat 4 bedroom home (master with full ensuite), 2 bathrooms, living (or lounge) area, dining/family room, modern (or functional) kitchen with dishwasher and (gas or electric) hotplates, single (or double) lock up garage with (if it applies) remote control, spacious rear yard and a rear pergola which is perfect for undercover entertaining.

As for the fencing....well don't most properties come with fencing as a standard feature???

USE DESCRIPTIVES....people like to know what they are getting for their money, and the more they know, the easier it makes for them to decide instantly whether yours is the one they want!!! SO "SELL" IT (not literally of course) TO THEM!!!

And as for the rental, is this the going rate in the area?? If so, maybe you could advertise it as $300 p/w negotiable.

I think the delay in finding a suitable or ANY tenant may be attributed to one or a combination of the following:

1. Rent may be too high (what are the going rates in the area??)
2. House may be nice enough but not anything out of the norm for people to be happy about paying a few extra dollars
3. Your advertisement is good, but need more descriptives to attract attention
4. 4 weeks and you're sweating already, come on mate, in this market 4 weeks is hardly worth panicking over. Now if you had said 4 MONTHS I might have had more empathy for you!!!

The way I see it.......

Good advertising/marketing will generate interest and get them to pick up the phone, YOUR RESPONSE when talking to them will get them to the door, and THE PROPERTY ITSELF will close the deal and encourage them to sign the lease agreement!!!!

Good luck!!

Jo

 

[skater]

Like everyone else, the first thing I thought of was price. Perhaps you could reduce it. The other thing that many tenants want & find hard to get, is a pet friendly home. Why not word your add to include "Pets Welcome"?

 

[Gordon Gekko]

Rolly,

At $300 a week and with a 4.5% rental yield, you IP would be worth about $346k.?? With a quick search on Realestate.com.au, i had 86 matches, all of them above $369k.

Would it be a fair to say that your IP is one of the cheapest properties in Kiama???

GG

 

[rollyt]

Hello Gordon
You are right
4 bedroom in Kiama would cost you between$400000 to $500000
my IP is valued at $420000.
the going rate for 4 Bed rental in kiama is between $300 to $380

Regards Rolly

 

[bawley]

ah finding tenants on the south coast

Can't help you with Kiama but can tell you our experience just a bit further down the coast at Bawley Point. We have a weekender and the house next door sold early 2004 $420K. 3 bedroom, 1 bathroom brick house + garage, renting at $200pw. There has been a succession of difficult neighbours from our point of view. Three families in that timespan - have been noisy, abusive to our daughter, and all three families have arrived dogless, but acquired puppy soon after moving in and there being no fences lock pup on deck (dog v.unhappy and verbalises accordingly) or tie to clothesline - same result. Have heard via the grapevine that the house has been vacated and left in an awful state.

Currently house empty and the gossip is the owners want to build something "flash". I can't wait!



So screen tenants carefully Good luck, if you get applications from families previously renting in Bawley Point...beware

Cheers
Bawley

 

[tubs]

Why dont you call up all the agents that service that area and see if they have anyone looking for that type of house in that area on a waiting list? I tried it before and I got lots of great leads. If one of the has a tenant waiting then you can use that agent as your PM.....unless you have signed an exclusive authority with your main agent, which it sounds like you havent.

Tubs

 

[rollyt]

I have already done that TUBS

 

[Brenda Irwin]

I see your problem. The ad starts with "I" for Imaculate. Try using A1 or similar so your rental is right up the top of the houses for rent section.

 

[wish-ga]

There was very interesting post a while ago where the owner tried to get their prop rented by writing a very detailed ad. When they reworded it with LESS info they got more bites. I was amazed.

If the perosn is reading this then maybe they can elaborate.

 

[tubs]

That wasnt me who posted that, but there used to be a RE agent down my way who did something really clever when advertising houses. They would put in a description of the house but NOT a photo. And when we were looking, you read the description and it told us about the house, but we had to ring them to get more info, plus the address to drive past. With the other ads with photos, we just looked at the photo and decided not to look at it further, but this agent a) talked up the house on the phone and b) got us to actually drive past.

So, I guess putting in less information actually encourages a bite from a prospective tenant.

Tubs