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General Landlording & Rental Properties

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Adam Stanton
  • Investor
  • Fredericksburg, VA
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79
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Securing a renter - pinging for ideas

Adam Stanton
  • Investor
  • Fredericksburg, VA
Posted Oct 11 2014, 10:44

Closing on my first SFH in Richmond Va in a few days. I'm using the site tenantturner.com to market for renters. So far I've got seven prospects in a week but none panned out or even wrote back to me after I sent them an initial email. Here are the details.

3/1 SFH in C- area.

Average rent based on CL, zillow is 825.  I'm asking 875 due to the home being in great condition recognizing this is a rough time of year to find renters.

When I get inquiries I send them an initial email asking them and any other adults in the house to fill out an application at no charge.  Tenantturner does the background check and charges the applicant $40.  I'm wondering if that is kind of high for each adult (2 -3) in this area?  However, the cost doesn't kick in until after I've shown them the place and they want to move forward.  My cost is $60 per home per renter flip.

In what increments should I drop the rent if things don't pick up?  I was thinking $25 per week.

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