Calling The Competition

[Arnie Guida]

How would you feel if another property owner called you to ask what your rents were?

The are two other four families on my block with "for rent" signs on their front yards, and I'm dying to call and ask what they're charging. I've had friends offer to call on my behalf, pretending to be prospective tenants, but I hate being dishonest about it.

If I called you, would you say "It's none of your business" and hang up, or would you tell me?

I'm not sure what I'd do if the roles were reversed.

[Jerry W.]

I do it all the time, and I answer what I charge. I have even asked them how they stay in business at that price, and have them say they are losing money. I have done the anonymous route before, but find that disclosure works much better. I make it clear that I am very open about telling them about past renters if I am listed on their intake sheet. I do not believe in price fixing, but not talking with others about rent rates seems silly. Imagine selling gas or groceries and not knowing what the competitions price is.