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Updated over 7 years ago,
Help on renting out one bedroom in a condo
Hi, BPers
I have a condo located at a desirable and convenient location that needs to be rented out. The Zillow estimated rent for the whole condo is $2300/month. Currently, the smaller guest bedroom is being rented out and I want to rent out the large master suite for $1100/month. Unlike my other rentals which were have agreements signed in the first two weeks, there are few people coming to see it after I put it on the market for two weeks. So, my questions are:
(1) Is the Zillow estimated rent on high-end condos less accurate? I have other SFHs and I used Zillow estimate on the rent and they seem quite reasonable to me.
(2) What are the other reasons for the master suite not rented out for such a long time, except the privacy issue? Is it true that anyone who is paying $1100/month is looking for a private space?
(3) Does a furnished master suite will help renting out? How much more rent should I add on the current price for a simply furnished master suite?
I understand that it is difficult to diagnose with so little information, but wonder whether other landlords have similar issues and suggestions.
Thank you!
Lee