A higher asking rent can cost more than it earns.
Every vacant day is rent you don't get back. Compare what waiting costs with what the extra rent brings in.
- Rent per day
- $75.62
- Rent lost while vacant
- $2,268
- Occupied months for the extra rent to make it back
- 22.7
Illustration only: gross rent before expenses, not a forecast for your property.
Example: at $2,300 a month, 30 vacant days is about $2,268 in lost gross rent. Holding out for $100 more a month takes about 23 occupied months to make that back.
The right price depends on demand and the property. A listing still showing as available doesn't prove the home is vacant, and these figures are gross rent, not profit.