I bought a two-family investment property. Each apartment has four large bedrooms and contains more than 2000 square feet. That makes it about twice as large (in terms of number of bedrooms as well as square footage) as the typical rental in my area, and I am trying to rent it for about 50 percent more than you'd get for a two-bedroom.
I'm having trouble finding good tenants. The typical tenants in my area either don't need this much space (because they are young and don't have a large family) or can't responsibly afford this much space (if they could, they would have bought their own house by now).
I'm looking for suggestions on how to find good tenants. Is there a specific type of tenant (students, for example) who would be a better fit for this type of rental? Or maybe I need to bite the bullet and lower my asking rent to be on par with a two-bedroom place. There are many more qualified tenants looking for an apartment at that price point.
Advice appreciated from anyone who also owns very large apartments and has found good tenants for them.
I know the best solution would be to split the house into smaller units, but that is unfortunately not possible due to zoning restrictions.