For Rent in West Warwick>Question Details

Michelle, Real Estate Pro in West Warwick, RI

How long should you let your rental sit before considering a price drop? What is typical?

Asked by Michelle, West Warwick, RI Sat Jun 9, 2012

Looking to rent out a 2/1.5 2000 sq ft Townhouse in West Warwick (EG/Warwick line) for $1,400/mth. Any constructive advice would be very much appreciated! I'm new to the renting scene. It's a great place in a great location but I'm definitely bias! I love my condo!

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A couple of factors play in to it. First, have you looked to see what comparable properties are renting for and how long they sit on the market before they get rented. I would consider a price decrease after 30 days, but I have clients that will decrease it after two weeks. Knowledge of the local market is important! You can peruse Craiglist postings to get a quick and dirty idea of rental comps, but a local Real Estate Agent or Property Management firm will be the best resource to give you stats on price and days on the market. Hope this helps!

Michelle Spalding
Realty ONE Group
(602) 476-8100
1 vote Thank Flag Link Sat Jun 9, 2012
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