I own a home. It has been empty since August of last year. We tried to sell it for six months, no go. Now we've had it on the rental market for nearly three months, and though there have been nibbles, no bites yet. We signed a year contract with our property manager, but not being rented after three months has me doubting their prowess. Do I have a right to get out of the contract, or am I stuck?
The house is in the Denver area.
2007-07-13 05:01:08 · 4 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Dude, that's not the question I asked. I've been doing this for almost a year, believe me, I know ALL about the Denver market. Please just answer the question that I asked.
We have adjusted our price as far as the renting goes, we are not considering selling it right now.
2007-07-13 05:09:34 · update #1
In April we started out with a price of $1200. Now, in July we are down to $1100, but are willing to go to $1000. The place doesn't have air conditioning, but it does have a swamp cooler, which does cool the entire house, I am worried that this is the sticking point and that our prop. manager is not presenting the place correctly. I think people are immediately turned off that it doesn't have AC and they take it off their list.
2007-07-13 06:18:30 · update #2
Before you try to terminate your management contract, talk with the management firm and ask what the problem may be.
You might have insisted on too high a rent value for the current market. Dropping to market and renting is far better than having NO monthly income.
Give the management firm an opportunity to discuss this with you in detail before you decide to terminate.
2007-07-13 05:08:56 · answer #1 · answered by acermill 7 · 2⤊ 0⤋
You signed a contract, you are stuck. I'm pretty sure the only way to get out of it is if it stated in the contract that you can terminate due to misrepresentation or fraud on the part of the manager. It may be worth the money to have a lawyer take a look at it.
Also- when it comes to selling a house there are lots of creative ways to attract attention and set yourself apart from the crowd. Not only from curb appeal (make it the best looking place on the block within reason), but what if you went down to the Ford dealership and had them park a Mustang in the garage for an open house and whoever buys the house gets the car too (free advertising for them). Or you can actually offer to pay the first year of mortgage payments etc. These are the types of things that you can do and actually raise the price of the house to offset the extra cost. If you can get out of your contract and still want to sell, maybe take it off the market for a couple of months then put it back on at a different price with some changes made.
2007-07-13 13:44:23 · answer #2 · answered by B . 2 · 0⤊ 0⤋
Denver market is tough right now. Perhaps you are asking too high a price to sell or rent.
2007-07-13 12:06:56 · answer #3 · answered by WJVV 4 · 0⤊ 0⤋
I would say lower the price, If thats what it takes.
If you are still trying to sell it, Try having it staged......
2007-07-13 12:09:35 · answer #4 · answered by Anonymous · 0⤊ 0⤋