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Updated almost 7 years ago on . Most recent reply

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Johann Jells
  • Rental Property Investor
  • Jersey City, NJ
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Downside to posting a rental high and then dropping if no-go?

Johann Jells
  • Rental Property Investor
  • Jersey City, NJ
Posted

I have the rare luxury of 60 days notice on a unit, and was wondering if renters think an ad up for a while is stale and undesirable? My most recently vacancy this winter was hard to fill and I'm not sure why. I originally asked $80 more, and backed down when it didn't rent. It kinda hurt my confidence in pricing, this is considered a hot area. May 1st is a better season and I was figuring to up the rent a couple of hundred from the current $1750 based on what the HUD 2br FMR has gone up in my city since the last lease, but with enough time to back off if unsuccessful at getting a tenant at that price point. Thoughts?

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Curt Smith
#4 Innovative Strategies Contributor
  • Rental Property Investor
  • Clarkston, GA
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Curt Smith
#4 Innovative Strategies Contributor
  • Rental Property Investor
  • Clarkston, GA
Replied
a problem with getting someone to take the high-rent is it typically there more desperate they may actually be higher Financial Risk counterintuitive. They will certainly be shorter stay. I use Zillow rental and I actually look at the ads I price my rental $5 lower so I'm below the even Mark 1400 I'll price it at 1395 I want a tenant to move in and literally never move out.
  • Curt Smith
  • [email protected]
  • 678-948-7151
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