Discount for Pre-Payment of Rent
Curious about any rule of thumb for a discount to be applied for pre-payment of rent for 6 or 12 months in advance?
I have an offer to negotiate a rent discount for one unit in a duplex for pre-payment if either 6mos or 12mos. The unit has been on the market about a month with medium level interest, mostly phone calls generated from the sign posted in the front yard. I’ve already reduced the figure I’m asking by $100/mo due to lack of positive responses/requests for showings.
This offer today has me very interested in order to get tenants in cash flowing. But at what discount is it advisable? 1 month free, 2 months?
Asking rent is $1700/mo currently