Does anyone use low rents and high deposits to get good tenants?

[Jeff T.]

I'm wondering if anyone has used that. Slightly lower than market rents to keep good tenants and using higher than average deposits to get good tenants?  I find that standard one month rent deposits rarely cover my costs during a turnover.

[Caleb Heimsoth]

Jeff T. I’m a landlord and a tenant myself so I feel I can offer a bit of insight to both sides.

For me as a renter I would personally pay a higher security deposit (say 1.5 months rent, assuming one months rent is typical deposit) for around 100-125 off market rent for a 12 month lease.

As a landlord, I would rather have a normal security deposit and market rent. Market rent gives me my cash flow. Through diligent screening yo can get market rent and still get good tenants