First Rental Listing - When to drop the rent?

[Dylan Greytak]

I listed my first property 2 weeks ago at 1750 (a little wishful thinking) and heard crickets. After a week I dropped it down to 1600 and made sure it was listed on all major platforms.

After the first drop, I have been contacted by about 30 prospective tenants (only 3 from Zillow, everything else from Facebook)

Only 4 of them filled out the pre-screening form. Of those 4, only 1 was qualified and they ghosted me on the day of the showing.

We're house hacking this property so I'm being careful about screening, which may be a turn off for some potential tenants. (6 questions pre-screening form, followed by a short phone screen and set up showing before requesting application)

We aren't in a crazy rush to get this filled, as the mortgage is manageable and we're using it as our residence, but after a week at our lower price I am considering dropping it again.

Another concern I have is how 90% of the inquiries I get are from Facebook. I assume there are more people casually looking on Facebook that take it less seriously. 0 leads from the other big platforms besides Zillow is leading me to believe that my rent is still too high for serious applicants.

Thanks