First Room Showing – Worth Lowering Rent to Close?

Question

I just bought a house in Carrollwood (Tampa area) and started house hacking. I’ve had listings up for 14 days and have had fine response but most of good potential tenants went different routes.

Today I had my first showing for one of the rooms. The guy seemed like a decent fit. He said it was “a little much” price-wise, but it would work, and he was looking for a 3–6 month lease. He's going to look at a few more options.

Would it make sense to offer a small incentive like:

• $50 off the first month, or
• $825/month for a 6-month lease (instead of $850)?

INFO:

3 rooms in the main house for rent. I live in 4th room.

• $800 for the smaller room
• $850 for each of the two larger ones (~120 sq ft)
All rooms are unfurnished.
• It’s only been 14 days, but the lack of solid leads has me second-guessing. 
• 
• https://www.zillow.com/homedetails/2315-Carroll-Pl-Tampa-FL-...

$800 for the smaller room

$850 for each of the two larger ones (~120 sq ft)
All rooms are unfurnished.

It’s only been 14 days, but the lack of solid leads has me second-guessing.

https://www.zillow.com/homedetails/2315-Carroll-Pl-Tampa-FL-...

Bill B. · Answer

$25/mo discount for the first 3 and $50/mo for the second 3? if you do this you might as well lower the prices in the ad. (Which you should do anyway if it’s a price you’re willing to take.) You have to assume roommates will eventually talk about the one paying more will be less than thrilled.

Kegan Scholl · Answer

@Bill B. How about $50 off first month is that more reasonable and help get tenant in?

Shannon Strickland · Answer

@Kegan Scholl

I have not experienced that, and I just hit my 2-year mark of househacking continuously, but I'm in northern Virginia. One of my rooms was rented by a traveling medical professional from Tampa who had previously worked at the hospital there before embarking on a work assignment. It seems that most people renting rooms don't want to bring their furniture in and out of someone's house. If you are going to rent unfurnished bedrooms, the price will need to drop about $100 per month. Would you consider furnishing 1 room for MTR as a test for your market? That one just might fetch the number you want/need.

Kegan Scholl · Answer

@Shannon Strickland yes I'm likely going to do a MTR with one room. Probably not all.