Psychological Rent Price Endings

[Gideon Sylvan]

Hey everyone, 

I'm wondering what rent price endings you find most effective for cash flow from a psychological perspective? In other words, after you have done your market analysis to determine what price is fair, to what extent to do you manipulate that price up or down to drive phone calls and/or cash flow?

For instance, I'm about to list a new rental for roughly $2,000. Would it be better to list it for $1,995 or $1,999 instead? Or, should I shoot for $2,050, because who wouldn't pay the extra $50 at that point? Or does going over $2,000 remove the searchers who filter by $1,500-2,000? $50 per month can add up...

Thanks in advance!