Should I drop my price????

[MarieChele Porter]

Hey BP,

I am trying to get my first house hack rented and it's not going as I had hoped... I started marketing it Dec 31st have showed it to at least 25 different families, talked to tons of people who said they're interested, have over 450 leads that I have replied to not including phone calls, etc... I am trying to figure out if this is just winter being a slow time or me being priced too high... 

It is located in Fresno, CA which is a farm town so lots of low income individuals... I've received about 6 applicants all of whom I had to deny because of horrible credit and several things in collections... I am open to taking section 8 recipients but still trying to lower risk as much as possible... 

I guess what I'm trying to ask is how much of this is it being the slow season versus knowing that I'm over priced ?? With over 25 showing and most of them asking for applications but none of the qualified actually applying... I guess this is why I'm pointing to overpriced if there is so much interest in a property and so many showings with people expressing their interest to apply but none that actually qualify apply.

The pros... In law has separate entrance only common areas shared, large backyard, recently remolded very nice, granite countertops, laminate flooring, stainless steel appliances, large master with bath, convenient location...

The flaws... 3 bedrooms but one is really small only fitting a twin bed, It is on a very busy street, is in a C class area but borders an A class area, in law that I stay in is attached and carport fits cars only in a single line...

I have also been considering just hiring an agent to fill the vacancy and then self manage.. I just found out that was an option reading through forums... I wanted to do it myself for experience but now I'm feeling it might be too much of a headache... 

Ugggh idk what to do BP help...

[Zach Lemaster]

@MarieChele Porter

This is a hard one sometimes.  In my experience if the price is too high you don't get showings.  So the fact you are getting showings means that you likely have it priced correctly, but there is something else that is turning people off that they don't know about going into the showing.  On the other hand, the sure fire way to rent the home out quickly is to price it below market value.  Renting it a few weeks earlier by lowering the price may actually net you a higher return than waiting out for a higher rent & having more vacancy.  Just my thoughts.