First rental on the market

[Patrick Senas]

Hello BP, I placed my first rental on the market a couple days ago. The home is still under contract and my realtor recommended that I post it now to test the market on how much to charge for it. I'm scheduled to close in 14 days. The comps don't even compare to this unit so it's hard for me to gauge market value. It previously rented for $1750 and I expect it to rent for $1900. So I posted it for $2100 on multiple sources to see what happens. I wasn't expecting anyone to respond but in 1.5 days I received 5 leads. I talked to one over the phone and promptly responded to the others via email and left voicemails. I haven't scheduled any showings yet. Does this mean that it's priced correctly? How long do people generally wait to adjust price? I want to have a renter lined up before I even close and the price point I started with was just a Hail Mary toss. Thanks! Pat