How much to lower the asking rent to generate more response?

[Johann Jells]

I'm not getting much response at $1890. Departing tenant was paying $1770 and HUD said 2br here went up about $200 in 2 years so I went for it. Now the question is how low should I go to get interest. Does $100 make a lot of difference? My gut says no but people are funny. Arithmetic shows it's not worth losing a month for another $100. Thoughts?

[Nathan Gesner]

Don't base you decision on what HUD told you. Look at the newspaper, Zillow, Craigslist, and other sources to see what comparable rentals are renting for. It doesn't hurt to actually tour some comparable rentals to see how yours stacks up to the competition.