compete with vey low rent

[Ayyoub Feza]

Hi, 

If a rental property come to market with $400-500 lower than market and be close to your rental property that you posted one week back, what will you do? What would be your strategy? Now that property takes all attentions, I cut rent by $100 but still cannot compete with that price. It is same for all other rental properties in the area, same situation as mine. For now I try to just wait till the goes off market. What do you think?

[Travis Biziorek]

I would do absolutely nothing.

There is no reason to compete with stupidity as it will weed itself out.

If one property comes to market at $400-$500 cheaper than actual market rents ONE lucky person will get that property and one foolish landlord will be losing a LOT of money.

This would literally have zero impact on my ability to rent my place and I wouldn't for one second allow it to influence my pricing strategy.