My Home Isn’t Renting What Should I Do?

What’s up, everybody? Matthew Whitaker here with “Questions Owners Ask.” today’s question is all about why is my home not renting?

What can I do to rent my home? So it was kind of interesting.

We just had a team meeting and I actually went over this for our team.

So I’m going to tell you almost exactly what I told the team.

So The First thing is If Your Home’s Not Renting Is You Need To Pretend Like You’re A Tenant Or A Prospective Tenant, Perspective Resident And Go Online  And Look At The House.

    • What do the pictures look like?
    • Are the pictures dark?
    • Are they too light?
    • Does the house look dirty?
    • Are the pictures terrible?
    • Are the pictures in the wrong order?
    • Look at the description of the listing. Or Is the description confusing?
    • How about misspelled words?
    • Is it…are you uncertain about exactly what the house is?

So these are all very important things because one of the things we believe is that a resident will see the house online before they’ll ever reach out to you.

So you want to make sure that it is absolutely like positioned to get as many eyeballs as possible.

Not Getting A Lot Of Showings! (My Home Isn’t Renting What Should I Do?)

Now, if you’re not getting a lot of showings, this is where I would start.

I would make sure that the listing looks good and I would make sure…then I’d go and make sure that the home looks good.

People probably are driving by or at least a number of them before they’re calling you to come see the inside of the home.

And that’s very important.

You want to make sure the outside of the home looks good.

And So If You’re Not…

If all that stuff looks good, if the outside of the house, looks good, the listing looks good and you’re still not getting showings.

So then that’s probably means that it’s a price issue.

Somebody is telling you that they’re not willing to pay that price to live in that neighborhood.

So Second Thing Is You’re Getting A Lot Of Showings, But You’re Not Getting A Lot Of Applications. (My Home Isn’t Renting What Should I Do?)

So let’s talk about that for a second.

And somebody is saying, ”Hey, I’m willing to pay that price to live in this neighborhood,” meaning they’re coming to your home and at least senior home and the listing is not an issue, but they’re not taking the next step, which is filling out an application for your house.

So let’s take a look at that.

The First Thing I Would Talk About Is Our, What I Call White Elephants.

Is there something about your house that’s extremely different from the other homes in the area?

For instance, a lot of times in a neighborhood there is certain houses that are on busy streets.

We call that a white elephant issue. It’s not something you can change.

The White Elephant!

The white elephant denotes something that’s outside of your control.

Does your house back up to some commercial property or is there a…we had one time that backed up to a graveyard.

So certain things you can’t change and maybe you can kind of cover it up as we did.

We put up a privacy fence between the house and the graveyard.

But again, that white elephant issue is something that you need to get and pretend like you’re the resident driving up and look at it from the resident’s point of view.

Is there a white elephant?

Next Thing I Would Say Is, Is There Anything On The Inside Of The House, Whether It’s Again, Small Bedroom…things You Can’t Change, Small Bedrooms, The Kitchen Is Odd?

Are there things you can’t change on the inside that you need to make an adjustment in the price to make sure somebody is willing to rent it?

So think through that.

Then The Last Thing I Would Say Is That Things That You Can Change. (My Home Isn’t Renting What Should I Do?)

Is there a pink bedroom or a yellow bedroom?
Are the light fixtures are ugly?
Is the house dirty?

These are all things you need to look at with the house and make sure that the house is positioned to rent.

Again, I don’t want to always say that you need to make an adjustment in the price.

But I Think That’s What A Lot Of Property Managers Will Do.

And I think what you need to do is go through this checklist that I’ve provided you.

And if you still can’t figure out why your home is not renting, then it may actually be the price.

So I hope that was helpful.

If your house isn’t renting and you want more…want to understand some more specific questions and get us to answer it, I hope you’ll reach out to us.

I’m Matthew Whitaker.

Thanks so much for watching.