Renting myself or with RE Agent? Fort Lauderdale, FL

[Imran Raz]

Hey Guys,

I am a new landlord, I rented my house previously to tenants and overall it wasn't a great experience. I did the background check, all came fine but just their behavior was not so great. They're gone now and I've spent time to refurbish the place and fixed all minor issues including new paint. I have several prospects came in and they all seems to love the place but very few get back. Maybe it is issue with the rent price or I am thinking since it is not listed on MLS, I am not getting full exposure, Monthly rent is $2100. I have it listed on zillow and all the related sites including Craigslist. Should I just go ahead and have RE agent to put it on MLS? What should I look for in the agent? What is their typical charge to place the right tenants.

[Theo Hicks]

I am not sure what the market rents are in your area, but here is what went down for me in Cincinnati.

I listed a 3 bed 1 bath at $1650 a month on Craigslist, Zillow, etc. I had multiple showings but no one got back to me. I lowered the rent to $1550 after a week and the same process repeated itself. After another week, I lowered the rent $1450 a week later, and that got me multiple offers within a few days. I needed to get at least $1200 to obtain my desired ROI and ended up getting $1400 for two years.

Unless you need the $2100 a month, I would recommend:

-Researching the market rents for your area to make sure you are asking for a fair rental amount

-lower the rent slightly and see if you get more interest