Zeroing in on the right rent
As a first time landlord, I am having some trouble zeroing in on the right rent for a 2/1 lightly updated fourplex unit in the Fruitvale area. I had a few questions:
1. Is craigslist the right tool to reach a Hispanic clientele? Most of the residents in that area are Hispanic. Should the ad be in Spanish?
2. Are there some no-nos to mention in the ad that could turn off tenants?
3. Are there any other advertising channels important to this clientele, that I am missing?
4. Does 'staging' the unit/holding an open house make sense?
I have had the ad up there for a week now, I admit, my pictures aint special but I have had only one semi-serious inquiry. What is the ideal number of inquiries at which you think, you have the right number. IMO, one should have at least 2-3 tenants to pick from.
What is the right approach in this situation. I took the rent number off of rentometer.com, but now I am thinking its excessive.