Ideal number of rental responses?

3 Replies

Hi Gang!

I'm just curious - what does everyone consider a "sweet spot" in number  of rental inquiries you receive on a unit you've listed, as an indicator of when you have hit the ceiling of how much $ you can get. 100 responses on zillow in 3 hours, you are probably pricing too low, 5 responses after a week, you are clearly too high. 

Wondering if people have found a good rule of thumb for what they'd consider an acceptable # of applicants, so there are enough to have consideration of, while pushing the limits on what the market will accept. 

I might look at this differently than most but as long as you are getting responses, continue to push it. Unless you in a need to rent it quickly then there is no reason not to try and push the market. Now if you got a few days with 0 responses you may have pushed it too far. Start high and adjust accordingly. Good luck! 

I also recommend starting off at the high side. Rents in my are have really been going up over time so I like to try and be at the top to start with.

Time of year, location, finishes etc, can influence inquires, it isn't all price point.

I get around 80-100 responses in three to four days .. any less and I start to reevaluate my price and my ad . Sadly of that number only 4-5 are decent candidates worth looking at