Help on renting out one bedroom in a condo

[Leon Lee]

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 

[Andrew B.]

are you using the zillow generated estimate or estimating based on comps on zillow? i ask because zillows generated estimates are typically innacurate. you should compare your rent to other advertised apts. if you are asking 1100 to rent one bedroom in your condo, it better be cheaper than other listings to rent a 1 bedroom condo alone. if no one wants to take up your rental, then the market is telling you the price is too high.