How Long to List Monthly Rental Price Before Adjusting

How Long to List Monthly Rental Price Before Adjusting

Member since 2019 · 3 posts · 0 votes

Hello, I have a 3bedroom 1 bathroom condo, where I plan on renting out 2 bedrooms. I listed it at $1490 and got one person who ended up canceling, then I lowered it to $1120 and got a lot of people back now currently it is at $1,265. My question is how long should I keep the price before making any adjustments and if so, should I change something else before I change to price.

Thanks!

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  • Member since 2019 · 3 posts · 0 votes
    6y
    My second question is would it be easier to rent my bedrooms as a pair, or each one separately.

    Thanks.
  • Real Estate Agent · Murfreesboro, TN · Member since 2019 · 194 posts · 181 votes
    6y

    @Chris Srichankij

    If you had alot of people, why is it not rented?

    You need to look at what surrounding market supports. And price accordingly.

  • Member since 2019 · 3 posts · 0 votes
    6y
    When I listed on the low side everyone was either not qualified or thought I was renting out the whole unit (I am keeping a bedroom for myself). No one returned the rental app which I requested prior to showing the unit.

    I also don't see a lot of 2 rooms being rented as a pair, so in this circumstance I am unusual. Would it be better to rent each room separately? 

    Thanks,

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