Would you discount rent for a better tenant?

[Stephen S.]

My question is based on:

A lower rent is an appealing feature to most tenants.

So if the advertised rent is lower-than-market I would expect the pool of potential tenants to be larger.

A larger pool of prospectives wold be likelier to contain a superior tenant: clean, neat, lives within all the rules/terms of lease, likes renting rather than 'stepping-stoning', etc.

Would you be willing to take less rent in order to have and retain such a tenant?

Or would your idea be that it is always better to get the highest possible rent and perhaps have to deal with 'forcing' the complacence issues - so to speak. <g>

[Stephanie Dupuis]

My experience is that there is a price point with rent. If rent is too low, you get many inquiries and a low-quality applicant. If rent is too high, you also get a low-quality applicant but less inquiries. Somewhere in the middle is the sweet spot where you get a decent amount of inquiries and quality applicants (plus a few goofballs - they always exist).