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Updated about 14 years ago on . Most recent reply

User Stats

5
Posts
0
Votes
M M.
  • Real Estate Investor
  • Ohio
0
Votes |
5
Posts

Raising Rental Rate in Ad

M M.
  • Real Estate Investor
  • Ohio
Posted

I'm a new landlord and in the process of trying to rent out my condo for Feb. 2011. I posted ads on Craigslist about 3 weeks ago and received many responses by email. I responded to every person by email initially and only received a response back from a few and spoke to them by phone.

Only one person made an appointment to view the condo. Another person is going through a divorce and can't move until March, so I told her I would let her know if we didn't get a tenant for February.

My question is...I think my rental rate may be slightly low based on the number of responses I received and based on some similar properties that have recently been listed on Craigslist, so I deleted my Craigslist ads a week ago before I could get any more responses.

I researched before posting the ads to find out if the rental rate I had set was an average rate, which it is, but I'm finding it's about $50/month lower than similar properties that have recently been posted.

If the one person who is going to view the condo is not interested in submitting an application, is there any issue with reposting the ad with a higher rental rate? I was going to ask the person who wanted to move in March if they were still interested (at the rate I initially posted) before posting the ad at a higher rate.

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