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Tuesday, March 18, 2008

Time Is Running Out For Rental #1

Well, the potential renter never panned out and my rental is still empty. There have been some other people who looked at the place and, according to the property manager, the problem is with the trashy neighbors. Not only do they have a habit of throwing their trash into my yard, but apparently they don't keep their yard too tidy either. So, in an attempt to fill the place, I've lowered the asking rent back down to $750, which is what it was rented at before. I'm waiting two weeks. If it isn't rented by then, I'm also going to list it for sale. I really would hate to sell it because, even at $750 a month, it had some nice cashflow. But if no one will rent it, the cashflow isn't there.

4 comments:

Anonymous said...

Hi Shaun,
If no one will rent it, what makes you think anyone will buy it? I ran into a similar issue with a home I have in KCMO and I eventually found solid property manager for it. He has been a godsend, perhaps you should look for a more solid manager first (just an observation).

Good luck with your home!

RealOG

Toronto realtor said...

Shaun, you wrote that because of some negative cicumstances you've lowered the rental down to 750$. A negative cash flow may put in serious financial dfifficulties, such as non-ability to pay mortages. You can find some useful tools on many weblogs, but what is important here - don't leave your property unrented because that is what cost you the most. I found some relevant informations on this Toronto real estate sites, I invite you to 'consult' it. Wish you the best with your property!

Steve said...

That sucks bricks. Any chance the PM (or you) can submit a complaint to the city to have the trashy neighbor "clean-up" their act?

Estate Agents Finder said...

First thing to look when you are renting was its surrounding not just the house itself. So for a better sales keep it clean as much as possible

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