What to do with vacant property

[menty]

Hi all, I have been trying to lease out my properties with the local agent but am not getting anywhere. Perhaps it is because of the season or December period.

My house has been listed for over a month with no genuine inquiries. The agent has done open homes and there have been people going through but no one has even put in an application.

We initially had the price at $480, and as of this morning have dropped it to $460.

http://www.realestate.com.au/property-house-nsw-sefton-409010391

It is reasonablty priced for a 4 Bedroom house, if not a bit more on the cheap side. I just want to get someone in before Christmas.

My granny flat has been just listed as of Sunday and I only had a few dodgy pictures as we are still painting the place.

http://www.realestate.com.au/property-house-nsw-sefton-409268251

Should I change the description of the ad or anything?

I mean, would it be wise to consider changing agents? My agent has let me know that 5 more tenants in the last few days have given notices to vacate and now the rental list consists of 13 properties which are available or coming up before Xmas.

Not sure what to do really. Do I start advertising on gumtree etc also?

 

[chindonly]

It's not a good time of year to have a vacancy.

How about trying - "First week rent free" ?

 

[Dave_R]

Agreed. Generally speaking, people don't like to move before or around Christmas. I'm having the same trouble with my two IPs that are on the market at the moment.

Jan/Feb is typically the best time in many areas - people starting new jobs etc.

 

[Shahin_Afarin]

I was in a similar situation for a rental in Pymble - i was desperate and thought what the hell. I put the ad on Gumtree and have 3 really good enquiries and went with one of the them. They were one of the best tenants - they kept the place very clean and paid weekly! Try gumtree but don't forget your DD.

 

[savoys]

Hi Menty

I would have a good look at the photos, there are two of the bathroom, one is just ok and the other is badly coloured, I would take down the old fashioned curtain, and get better photos, it is a very nice place but not shown at it's best.

Same with the granny flat, take the plastic wrapping etc, and building materials away asap for some good photos

 

[DaveM]

Is your photographer a munchkin? Photos taken from a bizarre low angle throw the sense of perspective off and look just wrong.

As for rental ... december/jan is slow, you may just need to weather it out and use your rental income come new year to pay any costs down.

 

[itinerantotter]

Hi Menty

I would have a good look at the photos, there are two of the bathroom, one is just ok and the other is badly coloured, I would take down the old fashioned curtain, and get better photos, it is a very nice place but not shown at it's best.

I would definitely lose the green and white curtains, Menty! Can you put up something neutral?

cheers

 

[westminster]

I wouldn't use those pictures for the granny flat - especially not the bathroom one. Until the inside is ready just have a picture of the outside and perhaps a copy of the floor plan.

As to the main house? I think the pictures are fine - yes the green curtains are dated but I don't think that would necessarily put any one off.

I'd offer first week free and see if you get a tenant in. Better to offer one week free for a lease starting in December than wait until January and have nothing for the next 4 weeks.

 

[Spades]

As op have said,pictures don't give the place justice.Also,being next to a school,imo i'd have a fence built out front.

 

[Peterw]

Front photo seems to show a carport at the side, however no car accommodation is listed, just mentions "car space" what does that mean. Also mentions fully fenced yard, however I cannot see a front fence. is the rear yard fenced? Also, no photo showing what sort of rear yard it has. I agree with the others, get a better set of photos, and correct the description if needed. Thinsg are quieter in December. Good luck.

 

[devank]

Is the gf causing trouble? Do you have fence in between two houses?

 

[fisherman]

"there have been people going through but no one has even put in an application"

Reduce the rent. Meet the market.

Find your footing after 6-12 months and you will be better placed to decide.

 

[menty]

Iv updated the photos.
Too bad all I could do with the front house was increase the exposure.

There will be a concrete car space for the front house. And yes, it is fully fenced.
There is still quite a reasonable rear yard for the front house too.

Iv let the agent know to offer one weeks free rent.

If by mid next week I do not get any offers for the Granny flat then I guess I will offer one weeks free rent for that too.

Are there any implications if I change agents ?

 

[HappyCamper]

The house itself looks good. If you have people showing up but nobody applying, then I think your ad is adequate but there is something the tenants do not like - either the house or the price. I assume the side driveway is only for the granny flat? Does this pass the front door of the front house? If your market is young families, then I think that would be a big worry - kids running out the front door and the granny flat tenant backing their car out.

You mention the front house WILL have a concrete car space. Was this made clear to the people who have seen the place? Off street parking is important when you're next to a school.

 

[mikezen]

I was in a similar situation for a rental in Pymble - i was desperate and thought what the hell. I put the ad on Gumtree and have 3 really good enquiries and went with one of the them. They were one of the best tenants - they kept the place very clean and paid weekly! Try gumtree but don't forget your DD.

i second this, some people on here will tell u not to use gumtree, but i have always had good luck with it as well....

when u place the ad (if u do) pay the extra 7 bucks and get it highlighted and have it placed as a banner on the top

 

[Scott No Mates]

Gumtree

I have used Gumtree to varying degrees of success - it depends on the market that you're targeting. I find it works well on lower demographs but the upper end of the market doesn't pay dividends so it is best suited to mainstream sites.

 

[DaveM]

Menty the new photos look better. However the granny flat is over priced and probably why its not moving.

You are competing against another brand new 2br GF at $380pw, 2 bedroom unit at 315 pw, 3 bedroom house with renovated kitchen for 365pw, and a near new 3br villa with garage for 430pw.

The GF isnt going to suit families, and is probably too expensive for singles. I would suggest really reviewing its price, I know it wil reduce the yield and we would all love $400pw on a $100k build, but if you are not getting any applications even from desperate tenants, its priced wrong.

The main house pricing seems the norm for the area and I would put it down to families not moving at christmas. The green curtains dont do it any favours neither do the artistic photos still that give no sense of the houses space. Low shots and high shots just look weird.

 

[menty]

Thanks for the advice. I'll give the granny flat another week and see how that goes.
I havnt even been given the keys or occupational certificate yet

 

[baby blue eyes]

I have found that until all the work is complete on either a Reno or gf tenants are not interested. They want to see what they are getting.

That means driveway done, blinds installed etc etc. The Xmas timing may make it more difficult attracting tenants.

Good luck

Vicki

 

[lizzie]

I'm right up there with the mob - get rid of those goddam awful green curtains. Buy some ready to hang cheapies from Spotlight (or similar) in white (or cream) and then retake your photos ... from eye level ... not lying on the floor.