Unlimited amount of prospective tenants, is this normal?

[Jeremy G.]

I have posted 2 apartments for rent over the past 2 months and i get absolutely bombarded with emails and calls expressing interest and asking to set up showings, I am overwhelmed.

I just recently listed a 3 bedroom apartment for $1000/mo tenant pays utilities, w/d hookups in the unit, extra storage space and a nice back yard. listed 3 days ago, 75 people have contacted me and im running out of time and availability to show it to everyone thats interested, it just wont be possible. im in a small town in NH and im very new to real estate, but is this normal? my appraisal and everyone ive talked to including people on here said the going rent in my area is around $850-$900/month for a 3 bedroom, but when i look I cant find any 3 bedrooms for rent for under $1250/mo within a 30 mile radius. I currently have a very long term tenant (20 years) in a 3 bedroom for $200/week, and now this new yet good problem of too many people interested o.O im worried ill make a wrong choice picking a tenant.

BTW i have been using craigslist and turbo tenant to market the apartment. , I require prospective tenants to apply through the turbotenant application which costs $45.00 for the tenant

any advice? 

How appropriate would it be to remove it and relist it at a higher rent to test the waters? even though I have currently set up showings with some prospects?

the last time i listed an apartment I had multiple people offering me more than what i listed it for.

[Ned J.]

Two things to consider....

If you are getting flooded with "real" prospective tenants....not tire kickers..... then you are in a very busy market and are probably under market rent....I would increase it....maybe $100-150/month and see what happens.....always easier to drop it than increase it once you post it up. But its common to get 75 inquiries and only have 4-10 be really interested and qualified, show up, submit an application etc......so be careful on not going up too much.

Stop doing individual showings..... do group open house showings....pick a couple of days and times and let prospective tenants know when you will be there....they show up or don't ...... HUGE waste of time to set up individual showings....TONS of no shows or last minute cancels. Multiple people there breeds competition and you don't always have to answer the same question over and over and over....

I've had ones where I get 75-100 calls, emails etc and 15 people show up over 2 days for showings...... nd get 2-3 real applications that even meet my requirements etc. You want a pool to choose from, but not the entire ocean