Finding rental price "sweet" spot
Under 2k/month rental. How significant would a $100 price difference be to potential renters. We marketed an apartment and got a couple of showings and no applications. 2-3 weeks later we dropped price $200 and had 6 applications in a week, every showing resulted in an application. Was it the $200 or better timing (area influenced by seasonal rent spikes and we just missed the cut off...) or what are other factors to take into consideration before lowering price.
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@Joseph Blum Have you ever thought of using a service like rentometer.com? We have been pretty satisfied with Rentometer and it's allowed us to use local data to make our rent price decisions.
- Eric Puffenberger