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Updated over 2 years ago on . Most recent reply

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281
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Atul Mohlajee
  • Oak Park, IL
108
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281
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Is it better to give first half month free to rent units

Atul Mohlajee
  • Oak Park, IL
Posted

I have four vacancies, an SFH, 2 Flat, and a condo for a month. All units are rehabbed/prepped for renting and show well. started at high rents but have reduced rents to average in the area of Forest Park. just a few unqualified applicants. Almost rented to a family and checked that both had multiple criminal records while income and credit were ok.

Will it help if I give first half month free vs reducing rents further.  Idea is renting them quickly.

Most Popular Reply

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Theresa Harris
#3 Managing Your Property Contributor
11,183
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14,494
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Theresa Harris
#3 Managing Your Property Contributor
Replied

If you want to do half a months free rent, you always do it at the END of the 12 months.  Otherwise what is to stop them from moving in, and then moving out before the lease is up.

  • Theresa Harris
  • Loading replies...