Rental market
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Anonymous
| We put our condo townhome on the market about 1 week ago for rental and haven’t had much response yet. How is the rental market right now? |
Anonymous
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Is this your first time renting your condo?
Where are you advertising ? Where is it located ? |
Anonymous
| It’s in Gaithersburg, md. It listed in all the websites, Redfin, Zillow, apartments.com, etc…. Yes, it is first time renting. I guess my question is how is the rental market right now? |
Anonymous
I guess you're finding out. Probably a good sign you need to drop your price. |
Anonymous
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Rental market is very local.
I have no problem renting during Thanksgiving and Christmas time which is the hardest time for rental. You should price it little below average rent for the area and you will get renters. Always Look at your competition at the same price range. |
Anonymous
| I have a property in Germantown and always list a bit below market value and usually have people interested. Where are you located in Gaithersburg? That can make a difference in the amount of interest and also where you should advertise. |
Anonymous
The property is in kentlands…does that make a difference where I should advertise? |
Anonymous
| Do you see other listings disappearing (being rented)? How is the condition of your property compared to the condition of others listed? Is your property up to date? If you have carpet, that could definitely deter any takers. Are your pictures appealing, and does your writing sound professional? |
Anonymous
DP Take better pictures with a lot of light. Write the highlights describing Kentlands like Few minutes walk to the supermarket and a lot of restaurants, family friendly. I always allow dogs that helps a lot for finding quality tenants but some landlords don’t agree. Don't over price it. |
Anonymous
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Kentlands is right across the street from AstraZeneca. Near NIST and other major companies. Try asking your FB friends if they know of anyone working near those areas who is looking. Close to good schools. Make sure to list those. I think prices are fluctuating with the rental market but interest is still strong because many people can't afford to buy right now and inventory is low.
Like the PP, I allow dogs. I find even if I didn't the tenants "forget". Or if I allow one dog then some how later on in their lease they seem to get a second. |
Anonymous
| Thank you all for your helpful advice! |
Anonymous
| If you are trying to rent yourself, put some incentive for the agents in your listing. |
Anonymous
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My first suggestion is that you tell us if you are trying to rent it out yourselves and then start a new thread asking that question, how do I effectively market this property?
If you’re using a Realtor, find one who farms that neighborhood. Don’t listen to what they say, all of them will say whatever they need to, look at past results. If they don’t match properties akin to yours, move on. Think too about why you are renting v. selling. Do you want to come back to the property in a few years? That’d be the only reason I’d ever be a landlord. I truly hated it when we did it, and am not convinced whatever money you *may* happen to make is worth dealing with the people you will need to deal with, lots of outright scammers, lots of incompetence, lots of nastiness, all while trying to actually live and enjoy your own life. Of course, someone is going to come on here and say they have the best tenants, they’ve been there for 10 years, they get along so well, they hang out every weekend, and yes that can happen. It rarely does though especially for mom-and-pop landlords. You simply don’t have the time to take care of the house you live in, work, be a good parent if you have kids *and* effectively be a good landlord. Offering incentives doesn’t help, one dog becomes 2 or 3. One discount becomes another. One “my brother needs to stay for a week” becomes “the brother never leaves, his girlfriend moved in, and it was her toddler that trashed the place, but now the brother and girlfriend broke up and have a no contact order, so good luck getting money for damages”. It's very different from house exists, nice people move in and money rains in every month. Say what anybody will about the stock market, I’ve never gotten a call from the stock market on a beautiful Saturday morning telling me it can’t pay rent this month or the furnace is making a weird noise or the property manager has refused to call them back. Tell us exactly what/how you’re doing and maybe we can help. |
Anonymous
Go to previous listings for other homes that have sold/rented in the Ketlands and copy whatever verbiage you think would sound appealing to you, as if you were the buyer/renter -- take a few lines from a bunch of different listings and splice them all together to turn them into one listing that's yours alone. |
Anonymous
I actually went to chatgpt and asked it to write up a real estate listing using specific words, like: - breathtaking sunsets - panoramic views - Sugarloaf Mountain - beautifully updated brick front end unit townhome - desirable Kentlands Hill District. T - fenced in front outdoor patio - natural light - porcelain tile - and a bunch of other descriptions that I copy & pasted from some random listing. Here's what it wrote:. User: Write a real estate listing using the (above) descriptor words: ChatGPT Welcome home, kick off your shoes - the view is fine. Experience stunning sunsets and breathtaking panoramic views of Sugarloaf Mountain from this recently updated end unit brick front townhome located in the sought-after Kentlands Hill District. Upon your arrival, you'll be welcomed by a white picket fence that's charmingly enveloping the quaint outdoor patio, which is perfect for entertaining guests. Step inside to be greeted by an abundance of natural light that floods the space, highlighting the porcelain tile flooring, in this unimpeded and open floor plan living space, which celebrates and embraces your conversations with guests, unencumbered by barriers and walls. Ascend to the main living area, where an updated kitchen with stainless steel appliances, impeccable granite countertops, and organzized laundry system awaits. The adjacent dining area is separated from the family room by a three-sided fireplace, perfect for cozy evenings on chilly nights at home. Ascend to the upmost elevation of the home where you'll find two enchanting bedrooms with cathedral ceilings, each with their own recently updated and charming en-suite bathrooms. Additional features of this home include brazilian cherry hardwood floors, crown molding, marble tile in bathrooms, and granite tile in the kitchen. Step outside, relax and enjoy the captivating side yard with blooming hydrangeas, lush greenery and incredible views of Kentlands. Easy access to the pool, tennis courts, clubhouse, shopping, and dining, make this the quintessential home for those who love to be on the go. Don't miss out on your opportunity to own this breathtaking townhome. |