Hi

It is amazing why the owners, presumably some are REO, will do this. As you stated, maybe most are walk-away owners? Besides this, I would bet not one has a vacant home insurance rider on their policies making them uninsured as well.

Like any listings, when it is approaching the average listing days and no movement, any agent worth their salt should talk to the owner about price reduction. I have found at too that sometime the agent listed for what is the going rent in the area even though subject is less the average house in condition and location.

These holidays are traditionally the slowest time of year for leasing Wallace, nobody wants to move unless they absolutely have to.  If it is the same there those owners can count on more vacant time.

Wallace, I just did that very thing on a building I bought to rent out.The market always tells us what it will bear.

WE don't have almost any vacant rentals in Hinckley, Mn.  I wish I had a few.

There was a property manager in Caldwel, Idaho that had similar issues.... Most of the property he managed ended up being foreclosed on and he is out of business.... NMy step mom used him....That is how I ended up managing a 5 plex in Caldwell.

Wallace, 

Critical to get rentals leased - vacant cost money!!!   Once you do the math on a lower rent verses two months vacant AND paying for utilities - the lower rent will sound a whole lot better. 

All the best, Michelle

I can't imagine a rental vacant for 6 months. That is absurd! Marketing, pricing, sales skills all have to be focused on "the goal" of getting qualified tenants as quickly as possible. 

Good feedback. You would think it would be very unusual to have a rental vacant for six months. Doesn't happen much in our area.

That is unfortunate to have so many homes sitting  vacant because of poor management. When a house for rent is also for sale the price should be well below the average market rent because tenants don't want to deal with showings, inspections, or having to suddenly move.