If I could see into the future, it would sure make my job easier!
I know it’s worrisome for owners to wonder when & who the next tenant will be, especially when the property sits vacant. The days, weeks and months pass by and still no secured tenant. The ones who come and look say, “Oh, it’s too small” or “Doesn’t work for me” or “Don’t like the view from the patio” or “Too high on price, let me know if they’ll come down”, specifically on the A & B units “too small” or “need an attached garage”. It’s a buyers/tenant’s market right now, so many options for them!
By now I have leased & sold enough in here to know the objections from prospectives & tenants for each floor plan and location in the complex. The pricing is key, if you price it right (whether selling or leasing) the buyer/tenant pool will see it as a good value and be more likely to cause them to act. But pricing is a whole nother (is that a word??) blog topic.
I tell my landlords “hang in there” and “the right one will come” and “I don’t know when or who, but I know the next tenant will be a good fit for you”…I know that gets old when you’re on the hook for the mortgage.
But you do have to have faith that it will happen, it might not be exactly when you want it to happen, maybe not even on the terms you prefer (e.g., if you want a 1-year at $2900/month well, the best option from a well-qualified tenant might be a 6-month for a little less monthly rent).
In my business, I use checklists for everything. My greatest pleasure whether selling or leasing a property is taking the signs down, taking the lockbox off and having happy sellers/buyers and happy landlords/tenants. Check; done.