do you advertise at or below market rent?

Pittsburgh, PA · Member since 2016 · 126 posts · 18 votes

when filling a vacancy do you stick right at market rent then gradually go down in price if no interest? or do you just start below market rent? if so how much below market rent do you charge?

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Nathan GesnerBusiness Member
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Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
9y
If the market is low, I will try to decrease the rent slightly but increase my screening standards. Landlords commonly think that a lower rent will increase likelihood of getting a good tenant that stays forever and appreciates the good deal. In my experience, if you rent a $1000 unit for $900, people will treat it like a $900 unit.
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Nicole A.Pro Member
Rental Property Investor · Baltimore County Maryland and Tampa Florida · Member since 2013 · 2k+ posts · 2k+ votes
9y
I fully agree with what Nathan has said. If you have an attractive unit, it will rent quickly at market rent. If it is a little dated, that's when you'd want to go a little below market immediately.
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