Testing Out a Higher Rent

[Bryan Cavellier]

Do you think it is worth "testing the waters" on rent (making it little higher) and if no one applies then lower the rent after a couple of weeks on the market.

Ie. Rent is a comfortable $850, but I see value in a unit that lends it to be $900-950.

Should I see if anyone is interested at 950?

Looking for pros and cons, Thanks for the thoughts!

[Randall Weatherall]

If it's in a decent area where the vacancy doesn't mean that things start walking off, then it's really just a personal question of 'is it worth the wait?'  It sounds like you're just trying to rent above market, which usually lends to you using a leasing agent in your area that may know some tenants that want a few more bells and whistles to be worth more every month.

Instead of $100 over, try $895 and see if that can get you where you want, knowing that if the tenant is solid, you can get to $925 next year and that will help you get the rent you want without pricing the tenant out.