Having Difficulties Renting my A- home in a B- Location/Market

[Christopher Oyenuga]

Hey BP family,

Just finished up the renovations on a rental in Augusta, GA. Augusta is a smaller town but it’s growing due to the military, medical schools, construction and a cyber security center. I finished this property nicer than most in the area with granite, new tile, paint, bathrooms etc. I’ve listed he property for $1,100/month one week ago and haven’t had any interest yet. Though rentometer recommends $818/month based on 15 houses in a 2 mile radius.

I believe the house is truly worth $1,100/month and should be attractive to military folks and young professionals. The house appraised for more that twice of what I bought it at.

Looking for advice on the asking price. I’d like to get the $1,100, though am I being stubborn because perhaps it’s a little too early for those asking prices in this area?

Thanks for the help!

Chris Oyenuga

[Scott Mac]

Most people who can afford $1100 a month do not want to live in an $800 a month neighborhood.

If they are going to pay $1100 a month they would like to live in a $3000 a month neighborhood if they could but will live in an $1100 a month neighborhood.

Birds of a feather flock together.

Good Luck!