Just wanted some suggestions. --68.134.xx.xxx

Higher rent time and time again gets me more knuckleheads who think they should get a place just because they want it. It doesn’t slow down the applications coming in. Lower rent still gets me a fair share of knuckleheads, but it also gets me money conscious tenants. I have better luck under pricing a unit to get it rented and raising the rent over the next couple years. --24.152.xxx.xx

Advertise it as ....Now LEASING Starting at $1,500 Call - --173.188.xx.xx

In your case, it will probably work out, because one of the factors in play will probably appeal to them over the other competition at your price point. But if you take it too far, or if you try to play that card from a weak hand, results will be different. --172.58.xxx.xxx

But ultimately, a lot hinges on whether you're offering something that's more valuable to them than keeping the extra $200/month you're asking. --172.58.xxx.xxx

Neither is working for me. --172.59.xxx.xx

However, the property next door knocked down and built high end units. Rent ranging from $3750 to $5500 per unit (1,2 and 3 bedrooms). My building had a 1 and 2 bedroom vacancy. I didn't put out a sign. When I saw those leaving next door with a disgust on there faces at the double the market price, I asked if they wanted to see my units. Those entitled applicants judged my rentals by the outside of the building. But when they went inside, my units did compare with newer ones .So instead of asking $2350 for my 2 bedroom, I started at 2,750. I got offers for $2,500 er month. I got 6 months up front and a good tenant. --47.155.xx.xxx

--66.153.xxx.xxx

Aside from getting a place rented, I need to feel good about doing it. If I rent a place at a deliberately low rent, it usually aggravates me when I get a complaint or even a basic request from the tenant. I think, "You're getting this place for a discounted rent and you have the nerve to complain that you feel a draft through the window???" I don't want to feel angry when I hear from a tenant. Market rent tends to alleviate that. I think, "Well, at least I'm getting good rent." It makes a difference to me. --50.32.xx.xxx

I have been slowly increasing my places to closer market. The problem is that there are some places that are charging well over what I would consider a fair rent. I do not want to fall in that hole. Charge too much and the tenant feels entitled, or you get no tenant at all because the cost is more than they can comfortably afford. --47.227.xx.xxx

Doesn't matter the cost they will pay for what they want. They all bring their entitlement attitude. --172.59.xxx.xxx

What plenty said. Entitlement is off the charts since C19. --72.0.xxx.xx

Thanks again. --99.58.xx.xx

add the dryer. does it have a fenced yard ? do you not accept smokers. I have houses in a two university town. my houses are non smoking. A huge niche mkt. I provide appliances. students don’t want to mess with buying them. I allow pets. just about all the rentals in town do not allow. another niche. keep your rents higher than “comps” I do. I don’t want a lot of applicants. I want applicants who see my rents, see the amenities and will pay. --146.75.xxx.xxx

Dryer, no. Washer, yes. Fenced backyard, yes. Pets allowed, yes. Smoking allowed, no. I plan to keep it above the lender's comps, but not too high. I don't want it sitting on the market like the other properties I've seen; 20 - 35+ days. It already took roughly 2 months to get it ready to rent. No need to continue letting it sit. A $500 monthly cash flow is better than no cash flow or letting it sit to get another $200, maybe. --68.134.xx.xxx

I also find that lower rents mean that people stay longer. I make more money with low turnover. My idea of a discount is not as wide as your example. --162.204.xxx.xxx

First off, don't take anyone else's word for what market rent is. The banker has ulterior motives (to make sure you can make the payments, so they guess low). Redfin and Zillow are terrible at comparing properties, they stop at simple sqft calculations and bedroom and bathroom counts. They don't consider things like floorplan flows, how fixed up it is, fenced backyards, curb appeal, and cleanliness. You need to look at your competition and see what they are charging for LIKE properties in the same condition with the same amenities and/or make the $ adjustments so you are comparing apples to apples. That's the only way you are going to have a good basis for market rent. --99.64.xx.xx

SirDuke: to respond with some suggestions: my houses have all been rented since I bought them, unless I take one out for rehab. All of them have been with 2-3 renters. If one student is leaving (graduated) I offer $100 to each renters if anyone of the remaining renters refers a replacement (that meets criteria) on occasion all will be leaving & I offer the same referral fee and immediate return of their deposits if they leave 3-5 days b4 term expiration so I can turn the house. In 25 years this has always worked. My mkt is students who don’t want to stay after their first year in the dorms (required by the universities. I have also rented to adjunct professors who have their first jobs here. There is a huge mkt for students who are referred by their friends. I make a point of meeting with their parents (who are usually helicopter parents and/or helping their son or daughter move in. Add the dryer (!) all rents do not include utilities. I charge higher rents & they all renew. For the first year they rent from me I require a guarantor. They have no rights to occupy. If rents paid on time I drop the requirement the second & subsequent years. --146.75.xxx.xxx