Tips on getting a condo rented in North Capitol Hill, Denver

[Evan Miller]

Hey Everyone!

I'm looking for tips on getting a renter into my condo which is located near 17th Ave. and N Pearl Street in North Capitol Hill.  Although I managed to find someone to rent out my second room in this condo while I was (still am) living there over the past year, this is my first time ever marketing for actual tenants to fill a property in which I will not be living.

Based on the research I've done, it seems like North Cap Hill generally demands pretty high rent, especially compared to the average in the 80203 zip code, so I've listed it accordingly.  Unfortunately I haven't gotten much interest so far.  My condo is a 2 bed 2 bath, with 1,197 square feet and is within walking distance to downtown, tons of bars, light rail stations, etc.  It's in a great location and is a very nice condo so it seems to me that if I'm not getting interest then the problem is with me and my marketing, not with the condo.  I'm curious if that's the case.

I started the listing at $2,400/Mo. and when that got over 100 views with zero inquiries over the span of a week I dropped it to $2,175 last Friday.  I have it listed through Padmappers (which gets it on Zillow, Zumper, and Trulia as well), Hotpads, and Craigslist.  It is available starting January 1st.  I'd love to hear from experienced property managers what their take is on my approach so far.  Is it just a matter of timing?  Do I need to decrease the rent more to reach the appropriate set of potential tenants?  Is there something I could do better with my listing?  I'd appreciate any advice or thoughts!

Here is a link to my listing on Hotpads for reference:

https://hotpads.com/1727-n-pearl-st-denver-co-8020...

Thanks for the help!

[Evan Miller]

Thanks for the replies everyone!  I really appreciate the direct feedback.

@Scott Trench and @Kevin Grinstead, I bought this condo in December 2016 so the equity isn't there to make selling a good option.  The reason I'm listing it for rent is in order to purchase my next property and the new one is a lot more oriented toward cash flow and less focused on an amazing location.

On that note, I won't be able to move out of my condo until the end of December in order to fulfill my one-year owner occupied obligation so that's why I can't make it available until January 1st.  I guess these aren't the most ideal conditions in which to start in on renting, but I am just trying to keep moving as quickly as I can.  Hopefully the timing won't end up being a deal breaker.

@Linda Weygant and @Account Closed thanks for the recommendations!  I'll definitely have to post it on those sites.

Thanks again for the tips everyone!