Would You Discount Rent For A Good Tenant
Would you discount rent on a unit for a good tenant? Offering a discount on monthly rent will more or less help close the deal and ensure I get a good renter. Is this a good practice and how much would you recommend discounting a $2,000 a month apartment? I was thinking 5-10%.
Most Popular Reply
Consider an incentive (trade) rather than a straight up discount (giveaway), either offer a lower rent amount if they set up their rent payment on "auto pay", or offer a rebate if rent is paid on time for 12 months straight, month 13 rebate they earn can be a $600 BestBuy card for instance. Build that $50/month into the rent now, they can earn it back by paying on time. If they earn it you buy the card on your double miles CC to mitigate your cost, if they don't earn it you're probably earning the extra $600 if you catch my meaning.