getting $1,000 per month out my 3/2 in Austell GA

8 Replies

I have this 1954 ranch home in austell GA that I am hopeing to get $1,000 per month the house is ready to show tomorrow. I posted some pics showing some of the renovations and Put some of the banded sings for my advertising.

So far about 30 cals to just ask the price as soon as I say $1,000 most are quick to hang up without asking for more information. Market average is around $975 but most of the callers are looking for some thing in the $850 range. My mortgage is not due till 1st June.

What will make out of this? How long will you wait to get the $1,000? When will you lower the rent? My brake even is at $700 per month but I will like to get as close to $500 cf as possible.

I have no way of knowing if $1000/mo is a good rate, but why don't you include the price in your ads? That way you don't waste the renters' time that are not looking in that price range, and they don't waste yours.

i did put the rent on the internet ad but not on my bandit singns. on this I put an email address with FAQ auto respond and doble intention of collecting emails for future lead generation

you are saying they are calling. For a sign I usually have a complete rundown on the phone so they only leave a message if they are interested. I don't even answer that phone.

depending on location and condition that might be a touch strong for Austell given it's an older house. Two suggestions get google voice (or hopefully if it works similarly it's replacement) and lower the price to $990. Leave a recording with all pertinent info on google voice. The $990 will bring in people searching under $1k and it is a psychological thing like $3.25 and nine tenths for gas. This assumes $1k is still your price.

I agree @Cal, I do have the Google voice message setup. I used $1,000 thinking that most will attempt to negotiate a lower rent but I am quickly noteing that most will not even bother negotiating. I had plans to make the rent $1,000,but give a $25 solar monthly discount if tenent stets up direct deposit and pays the day before the rent is due.

Originally posted by @Luis Montanez :
I agree @Cal, I do have the Google voice message setup. I used $1,000 thinking that most will attempt to negotiate a lower rent but I am quickly noteing that most will not even bother negotiating. I had plans to make the rent $1,000,but give a $25 solar monthly discount if tenent stets up direct deposit and pays the day before the rent is due.

I'm not a fan of direct deposit because technically a tenant can stop an eviction by putting in .01 into your bank account. Unlikely but it is possible a judge will strictly follow the law.

What is market rent for units similar to yours? If its $975 I wouldn't expect $1000 to produce hang ups. If its $850, I would. Overpricing your unit, in my experience, produces bad tenants because they're the only ones who will put up with the high rent. Pricing it at or a little below market will give you a choice of tenants.

@Luis Montanez

I found that postlets are the best source of advertising. Those calling for signs are always low balls. I would post adds on postlets and see what happens! If you are still having issues with an ad I would change the price. The only time $25 makes a difference is it is OVER the next number.

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