How to get my rental price right?

[Tyler Miles]

Hey everyone,

I seem to be having an issue pricing my rentals (2). The first I got a new tenant in June and listed it (2 bed 1 bath 1000sqft) for $1,400. According to rentometer.com that was extremely high, but looking at other rentals in the area it wasn't much higher. I got 32 contacts in the first 24 hrs. I just listed my second rental last night (3 bed 2 bath 1440 sqft) for $2,000 and had 6 contacts in the first 30 minutes. That morgage is $1,320 so I'm making good returns there as well but again rentometer.com said it was extremely high. Other FB listings are around $1,800 for new construction. So am I pricing them to low? How do you guys decide what to price a rental?