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Updated over 9 years ago, 07/26/2015

User Stats

324
Posts
384
Votes
Anna Buffkin
  • Investor
  • Pawleys Island, SC
384
Votes |
324
Posts

Rental Pricing Question

Anna Buffkin
  • Investor
  • Pawleys Island, SC
Posted

I have a new rental in Greenwood, SC, which is not renting.  I am concerned it is price.

 I could not find much in the way of comps, so I made an educated guess.  The 3 bedroom townhouses about a mile away rent for $850-$895, and my friend rented a 4 bedroom older house on this side of town for $1200. 

I have a 12 year old 3/2/1 in a good part of town though it is on the main road. The Zillow zestimate is $1018 with the upper range at $1200. The house is well done with laminate wood flooring, large master suite, standard neutral paint.  

I listed  it at $1095 which includes water, sewer, and trash service. I have received no calls.  

My question is how much of a price change should generate qualified tenant calls? Do I need to go $100 dollars or will $50 generate some interest?

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