Not getting applications on new rental property

[Martin Gonzalez]

Hello everyone, I hope you are all doing well. 

 I need some feedback on a property in Utah County we recently bought and listed for rent and I'm hoping you'll be able to help.

It's a 5 bed 2 bath home with a one bed one bath accessory apartment. We live in the apartment and listed the main home one week ago.  A lot of people have come through it but we have received only one application. Is that normal? Should I be concerned yet? Or should I consider lowering the rent?

It's our first property so we really don't know.

Thanks

[Bob Okenwa]

Lots of variables here. A few thoughts to pore over:

1. We don't know what you listed the rent for.

2. We don't know what the common rents are for a 5 bedroom home in your area.

3. 1 week is a short amount of time.

4. What does your listing look like? Does the interior of the home match the description in the ad and the pictures?

5. What does the neighborhood look like?

There are more things that may be applicable, but you'd probably want to begin by making sure the rent you're asking for is in line with similar properties in the area.