Securing a renter - pinging for ideas

[Adam Stanton]

Closing on my first SFH in Richmond Va in a few days. I'm using the site tenantturner.com to market for renters. So far I've got seven prospects in a week but none panned out or even wrote back to me after I sent them an initial email. Here are the details.

3/1 SFH in C- area.

Average rent based on CL, zillow is 825.  I'm asking 875 due to the home being in great condition recognizing this is a rough time of year to find renters.

When I get inquiries I send them an initial email asking them and any other adults in the house to fill out an application at no charge.  Tenantturner does the background check and charges the applicant $40.  I'm wondering if that is kind of high for each adult (2 -3) in this area?  However, the cost doesn't kick in until after I've shown them the place and they want to move forward.  My cost is $60 per home per renter flip.

In what increments should I drop the rent if things don't pick up?  I was thinking $25 per week.

[Bryan N.]

@Adam Stanton 

People are lazy.  Use a company like http://www.myrental.com

Collect the fee and run the app.  If approved, I apply it to the first months rent.  Serious applicants will pay the fee.  I have a townhome that is $75 above market rent and can have a lease signed in two weeks.  It's higher, because it's nicer then the ones around it.  Also, around here it is mostly tire kickers until the last two weeks of the month.  Use postlets and craiglsit to advertise.  In my area zillow, ttulia, etc you get emails all day long and nobody replies for the most part.  Craigslist is usually the money maker.  If your phone/email is going off daily (or close to that) your priced right.  If you are concerned drop $25 and the traffic may increase.