Am I charging too much?

[Nadir M.]

Recently closed on a house and just listed for rent. Been listed for rent for four days now and only had one application. Applicant credit score too low so decided to pass. We are approaching the Winter season and it’s obv Thanksgiving week so I figured it’d be slow trying to find a tenant. Current Zillow rent price is $1550 and I listed for $1600. House it a bit dated but in a great neighborhood. One bathroom doesn’t have a shower, just a tub, but master bathroom has a full bathroom. I’ve listed the house on Zillow, Cozy.co, And Turbotenant. Since I’ve listed on these three sites, my property gets advertised on many different sites by default. My question is, do I stay a bit more patient at $1600 and wait until week after Thanksgiving is over then reduce price? I don’t like the idea of placing a for rent sign outside house or listing on Craigslist. Thoughts on both?

So do I keep price, adjust price, advertise house differently...any help is appreciated

Thank you,

[Mary M.]

its been listed for 4 days?   that is nothing - especially this time of year.  However, Lowering price (or raising it ) can change the traffic.    Did you look at other similar rentals and see what they are renting for?