First Unit Posted for Rent! When Should I Start To Get Calls?

[Patrick M.]

Eager newbie here. Just finished renovating my first rental unit and posted it on the market. I'm up on Craigslist, Zillow Rental Manager, and Cozy for free, and bought an annual subscription to our HomeTownRent.com website for $45. Currently have the monthly rent at $100 below the rental zestimate for my unit on Zillow, and below two other very similar units in the same complex. The property has been completely renovated and is priced at 4% above the market for non-renovated units.

How long do you experienced folks leave a property out there before you decide that the rent is set too high? When I'm being rational about it, I think I'm in a good spot pricewise, but of course being new and anxious to get someone in, I'm second-guessing myself.

Do you have a "Zen of Waiting for Renters?" Feel free to share your tips.

Excited to join the game!