Re: to: person with 2 questions - market part

Re: to: person with 2 questions - market part by jannie (IL) on May 18, 2012 @08:49

I didn't see the posting about sitting empty for months, but that could have just as well been me. We put the home up for rent unfortunately near winter holidays. We found no qualified renters (no credit, no income & giant dogs). It was available, but nothing in Jan/Feb. We put it on the market to sell. Lookers, lowering price nothing. There is a glut of homes for sale & also rentals. Our contract ends June 3 so we'll be listing it for lease. Hopefully the time of the year improves our pool of potential tenants. We purchased this property thinking we would see a profit by using it as a rental, but wasn't watching our local market to realize the rental market had become much more competitive!

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Re: to: person with 2 questions - market part by Anna Mouse on May 18, 2012 @12:08	[ Reply ]

Jannie, Good luck this June. June and July, in states that actually have four seasons, are the best possible time to be renting. That said seasoned LL knows this and there is more inventory. Good luck and start making a chart now so you know where you should be priced.