Toward the end of the summer * after school starts * many rental properties in our area do not rent as fast as owners would like.

I have had a VERY NICE townhouse available for rent for 2 months - had the owner given it to me SOONER rather than letting it sit vacant waiting on "others" to remove discarded furniture and clean it  - it would have rented SOONER and THAT'S another blog.

When I received it for lease, I arranged to have it cleaned out, cleaned and the carpets done and I started offering it for lease.

I LOWERED the rent $10 to $20 each week when I started my Craigslist postings on Tuesdays of each week.  The listing was featured 4X in 7 days.  

Two weeks ago the owner of another unit in the project being offered by another local (BIGGER) property management firm called me directly wanting to ask me to send any "left over prospects" to her property manager, please.  Her property manager was keeping the rent ABOVE my rent but was offering one-half off of one month's rent.

I explained to her that my process was to lower the rent and not offer a GIMMICK that is better used in a multi-unit property where the owner can spread the loss of rent over a greater number of units RENTED....I did not tell her that I had BEEN-THERE-DONE-THAT-WROTE-THE-BOOK on that particular lease offering special.  She again asked that I send any interested parties to her property manager.

My townhouse unit rented a week ago and the money is in the bank.  As I was removing my sign on Friday, I saw that the other units with the GIMMICK leasing SPECIAL are still available....both of them.


457 Rolkin Rd, Charlottesville, VA 22911


BIGGER is not necessarily BETTER and ONE SIZE (GIMMICK) FITS ALL does not always work.

 

Wallace S. Gibson, CPM * GIBSON MANAGEMENT GROUP, Ltd.

LandlordWhisperer

View our available Charlottesville, Albemarle and Lake Monticello rental homes online with photos and floor plans


"...to be a Virginian, either by Birth, Marriage, Adoption, or even on one's Mother's side, is an Introduction to any State in the Union, a Passport to any Foreign Country, and a Benediction from the Almighty God...." Anonymous

 

 
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11 Comments on Hard One to Answer. How Did I Rent A Unit Similar to Their's FASTER?

SEP
16
1,450,130 Points 46 Featured Posts Outside Blog Called Shot Master

Wallace,  I agree. Timing is important . In some areas people like to move before schools reopen and get settled for first day of school.
4:38am • #1
1,020,977 Points 65 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Gita * those moving to our area now either are DINKS - double income no kids - or families with children too small for schools to be a concern.
5:48am • #2
940,510 Points 26 Featured Posts Outside Blog Attended Rain Camp

It is best to be straight up and get the better tenant. I agree this does work on multiunits.
6:34am • #3
464,252 Points 8 Featured Posts Outside Blog Called Shot Master

It is beyond me why people wait so long to get anything done. The procrastination cost the owner money. Maybe next time they will move faster remembering this incident.
6:54am • #4
1,020,977 Points 65 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Offering "seasonal" deals of SHORT duration to encourage renting in multi-units is pro forma in large communities; however, it rarely works for individual units when all units are not controlled by mgmt....hence, my unit is rented and theirs is still on Craigslist
8:43am • #5
705,667 Points 47 Featured Posts Localism Sponsor Outside Blog Called Shot Master

Wallace I find honest and straight forward is always the best policy for long term success! Congrats to your fast Lease!
1:36pm • #6
1,020,977 Points 65 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

...maybe being available on the weekend to show the property was also helpful....I'm just glad it is rented and I can move the sign to ANOTHER unit for rent!
2:17pm • #7
378,625 Points 5 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Wallace, 

The critical factor is making it happen for your client!  Way to go on another success for your owners.

All the best, Michelle
6:45pm • #8
SEP
17
1,020,977 Points 65 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

We have had a "dry spell" for about 6 weeks that is now coming to an end as DINKS * double income no kids * are being hired locally now that some state and federal funding is available for new hiring
3:33am • #9
778,935 Points 38 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

I'm not in the rental business, but I would imagine people aren't interested in the gimmicks as much as a fair price and/or a deal on the rent.  
4:30am • #10
1,020,977 Points 65 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

I agree * the LOWER rent and my willingness to show property on the weekend are the KEYS to getting this unit rented~
5:34am • #11

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Wallace S. Gibson CPM *

LandlordWhisperer

Charlottesville, VA

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Gibson Management Group, Ltd.

Office Phone: (434) 825-1933

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