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Updated over 1 year ago on . Most recent reply

User Stats

10
Posts
3
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Chris C.
  • Rental Property Investor
3
Votes |
10
Posts

When should I lower my rental listing?

Chris C.
  • Rental Property Investor
Posted

Hi! I'm a newer investor (3rd property) and I am listing a newly renovated property (3 bd 1 bath).  New lighting, boiler, hot water, flooring, etc... pretty nice.  I have listed it on zillow for 20 days now with interest (not as much as i thought) because I'm  only 3 bedroom listed in my area (they usually go quick 2wks) In a high demand area.  There's been about 30 inquiries and only 3 people applied and I have approved them but the tenant is hesitate to pulling the trigger.  The people that have viewed the unit has said "oh no central air".    Which there isn't.  However, i have setup plugs by a window that will accommodate a window AC. The average rent for a 3 bed 1 bath is $2000 and I have listed it for $1800 per month.   Should I start to lowering the price? if so, by what amount?   

I'm currently getting price for central air.

Any feedback would be helpful.  Thanks!

  • Chris C.
  • Loading replies...