Is my rental priced too low? - $2000 (1B/1B)

6 Replies

I just posted my listing for a 1 bedroom 1 bath apartment today (its a granny unit/ADU) and got 4 inquiries already and 2 showings this week.

Its in South Bay close to San Jose area.

I am wondering if my rental is priced too low? at $2000 

I'll let someone with market specific knowledge answer that, but I assume you are generally familiar and felt it to be reasonable for the area while still fitting your return expectations.

I'd much rather be a little too low and have my pick of well-qualified applicants than be a little too high and hope that the one person I found will work out. That's true for me regardless, but especially in an uncertain economic time. 

@Pooja C. You need qualified applicants.  Four inquiries on the first day does not indicate too low of a price per se. Best thing to do is compare other rentals in your area and see what their pricing is for like amenities, condition, location, etc.

@Pooja C. - I agree with Chad. Show the place and see what kind of applications you get.

In my opinion, it is better to have a highly qualified renter who will not give you any trouble than someone who barely qualifies for a higher rental price.  In that case, you have more risk.