How to price a vacant unit using your own rent roll
To price a vacancy from your own data, start with the rents on your rent roll for similar units in the same building, adjust for what differs, then compare against the last time each unit was listed: the asking rent, the signed rent and the days it sat empty. Your own signed leases show what renters actually paid, which listings on other sites do not.
Why your own leases come first
Asking rents on listing sites are what owners hope for. Your rent roll is what tenants agreed to pay. For a building you already manage, the most reliable price signal is the group of similar units you have already rented, especially recently. Use outside listings afterward as a check, as described in how to price a rental listing.
Pull the numbers from your rent roll
Make a short table of the units that resemble the vacancy: same bedroom count, similar size and floor. For each, list the current rent, the lease start date and any concession. Our guide to reading a rent roll explains the columns.
| Unit | Beds | Rent | Lease start | Notes |
|---|---|---|---|---|
| 2A | 2 | $1,450 | March | Ground floor |
| 3B | 2 | $1,525 | June | Renovated kitchen |
| 4A | 2 | $1,490 | August | Top floor |
Weight recent leases more. A rent signed three years ago may sit below today's level, and a rent signed last month shows today's.
Adjust for differences
No two units match. For each difference, add or subtract a modest amount based on your own history, not a guess.
- Renovations: a unit with a new kitchen rents above one without.
- Floor and light: top floor or corner units may command more, or less in a building with no elevator.
- Included items: parking, laundry hookups, storage and utilities.
- Condition: a unit that needs work rents for less until it is ready.
Example a made-up vacancy is unit 3A, a two bedroom with the renovated kitchen. Comparable signed rents are $1,450, $1,525 and $1,490. The renovated-kitchen unit rents at $1,525, so the owner lists 3A at $1,525 and notes that the other two units sit lower because they have the older kitchen.
Check how past listings performed
For each of the last few vacancies, write down the asking rent, the rent actually signed and the days between move-out and move-in. If units asked at one price keep signing for less after a month, your asking rent is probably too high. If they rent within a week at full price, you may have left money behind.
Put a number on waiting. A day empty costs one thirtieth of a month's rent, plus carrying costs. See the cost of a vacant apartment per day.
Example a made-up unit asking $1,600 sat 38 days and signed at $1,550. Asking $1,550 from the start and renting in 10 days would have saved 28 days of rent, about $1,447 at $1,550 a month, against a $50 a month difference worth $600 over a year. Waiting for the higher ask cost more.
Limits to remember
Your own data covers your own building. If you have only a few units, you may have too little to go on, and outside comparables matter more. Some places limit rent increases between tenants or set a legal rent for the unit, so check local rent rules before you list. Our post on rent concessions versus a lower rent covers a choice you may face after pricing.
Price the home, not the person. Rent is the same for every qualified applicant for the unit, and advertising must follow fair housing rules (24 CFR 100.75).
How DoorKeeping fits
DoorKeeping holds your rent roll: units, leases, rents and dates. Ask Claude or ChatGPT, connected to DoorKeeping, for the rent roll of your two-bedroom units sorted by lease start, and for which units are vacant. The numbers come from your ledger and leases. The pricing decision is yours: DoorKeeping does not suggest a rent, and it never pools one owner's rents with another's.
A note on the law
This is general information, not legal advice.
Sources
- HUD rule on discriminatory advertising, 24 CFR 100.75 (eCFR), read Oct 30, 2026
- Fair Housing Act, 42 U.S.C. 3604 (Cornell LII), read Oct 30, 2026
Questions
- How do I set the rent for a vacant apartment?
- Start with signed rents on similar units you already manage, adjust for differences, then check outside listings. Use your past asking versus signed rents to see whether you price too high.
- Should I price at the highest rent I can get?
- Not necessarily. Each empty day costs a thirtieth of a month's rent, so a slightly lower price that fills the unit sooner can earn more.
- Is last year's rent still the right price?
- It is a starting point. Weight recent leases more, and check outside listings and local rent rules.