Short question: how many applicants do you generally go through before finding a tenant?
Backstory: I’m under contract on a duplex. I went into it thinking “I can probably get $1,100 per unit which pencils out to a good deal” (not exceptional but good).
To test the waters I listed the pictures and description (without the exact address) on Facebook marketplace for $1,275 (which turns it into a great deal - mathematically). Between 10pm-6am I had 12 inquiries (non-screened haven’t done standard checks on any of them yet).
If I can get that type of response in 8 hours over night, I feel like I should ask for more.
Thoughts, opinions and suggestions?
Know what comparable units rent for in your area. As for how many applicants you need, one good one.