First months rent $1. Have you tried this?

[Andraise Scott]

i've heard a lot of stories about tenants trashing units when they leave and the costly repairs to get them ready for the next tenant. Thought: how about charging one dollar for the first months rent but adding to that two months worth of security deposit upfront. (Ex. Rent is $1,000/mo - you would get $2,001 at signing) Add, a very detailed list of things that need to be done and the condition the unit needs to be in before the tenant moves out, down to the lightbulb, to get their security deposit back. Potential result: The one dollar first months rent will probably attract a large pool of potential tenants to choose from. You have the potential to ultimately lose out on $999 but the tenant has all the incentive in the world to take extra care of the unit and not to run out as well. In addition, not having the headache of a lot of repairs between rentals would probably be a load off for anyone. Thoughts?

[James Wise]

I don't think a $1 1st months rent is necessary. If you have a desirable unit at a fair price you will have way more applicants then you know what to do with. After that a very strict screening process is what you will need to do to avoid the units being trashed.