Pricing Strategy

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Pricing Strategy (by Ray-N-Pa [PA]) May 13, 2025 12:04 PM

Pricing Strategy (by 6x6 [TN]) May 13, 2025 12:27 PM

Pricing Strategy (by NE [PA]) May 13, 2025 1:02 PM

Pricing Strategy (by NE [PA]) May 13, 2025 1:12 PM

Pricing Strategy (by WMH [NC]) May 13, 2025 2:54 PM

Pricing Strategy (by Pmh [TX]) May 17, 2025 1:21 PM

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Pricing Strategy (by Ray-N-Pa [PA]) Posted on: May 13, 2025 12:04 PM
Message:

I found myself recently having the lowest cost rental house on the market. How did I know initially? Just about every YAHOO within 100 miles from it decided to demonstrate that they were in fact yahoos.

It was only after two days of this that I did a search to see what others were offering at that moment. I was about $40 under the next lowest priced place. So I elected to increase the rental rate another $80 and offer that as the rental rate with a two-year lease term.

I still got some yahoos, but the number of requests from desperate folks slowed down to the point where I could enjoy my day. Hopefully that nugget helps someone out.

What pricing strategy/techniques do you use?

--67.140.xx.xxx

Pricing Strategy (by 6x6 [TN]) Posted on: May 13, 2025 12:27 PM
Message:

I did as NE did and lowered mine below everyone else, but I also had to wait for college students to start moving in order to get anyone that would qualify. --73.19.xxx.xx

Pricing Strategy (by NE [PA]) Posted on: May 13, 2025 1:02 PM
Message:

I have an old vehicle for sale. In the photos, I have a screenshot of the KBB value. I started at the KBB value and it hasn’t sold. I’ve been dropping it every few weeks and it hasn’t sold yet. I don’t think raising the price ABOVE KBB value is going to help my cause. Just because the market thinks they can get a certain price for a unit doesn’t mean they are and certainly doesn’t mean our unit is worth that same price. --24.152.xxx.xx

Pricing Strategy (by NE [PA]) Posted on: May 13, 2025 1:12 PM
Message:

I also think deadbeats are the equivalent of tire kickers. I had a goofball last week show up to view the vehicle and wasn’t interested after seeing the problems with it which are clearly explained in the advertisement. I’m not even going to begin to try to govern human stupidity. My vehicle will be sold in the condition it’s in when my price meets the willing and ready buyer. Same scenario with every vacancy. --24.152.xxx.xx

Pricing Strategy (by WMH [NC]) Posted on: May 13, 2025 2:54 PM
Message:

We have an awful lot of newbie Landlords around here these days so while I check out their ads for ideas, I use my own info to set prices. And I've found that the advertised rent is not necessarily what a place will end up renting for - or more importantly, STAY rented for - because the newbie landlords can't find anyone to pay their high prices for long.

Average rents have doubled or even tripled in the area since 2020, but the average household income for long-term prospects has not.

If I want to stick with "3x the rent" as a baseline income qualifier, then going over $2k a month reduces the number of qualifying folks by about 2/3rds. Size of house doesn't matter when setting a realistic price. In fact the more bedrooms, the fewer qualifying families - because having kids certainly doesn't increase expendable income.

These days, our studios are $900-$975 but they are terrifically tiny. 1-bedrooms in County $1325-$1750 depending on location. 2-bedrooms are $1550-$1995, ditto.

We only have two true 3/2 houses, and I could not find a decent tenant to save my life after months of searching when the rent was set over $2k on the last one. Finally rented at $1875 just to be done with it. It will go up a bit next year.

Here's a place I keep an eye on - www.runhillapartments.com. Luxury, lots of amenities, accepts pets. People like them but even once in, they are always looking for a cheaper place to live because luxury gets old when you really can't afford it. --173.28.xx.xxx

Pricing Strategy (by Pmh [TX]) Posted on: May 17, 2025 1:21 PM
Message:

6x6; my mkt is students, I charge higher rents. universities here require first year in the dorms. The second year students want to have their own place with friends. I have fenced backyards & allow pets, my houses are non smoking. there is a huge mkt for non smoking pet owning students who can walk to campus. Long story short. UP your rents. All my renters have been with me for several years. Then they graduate & refer their friend to me. --104.28.xx.xxx

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