would you lower rent to keep great tenant?

[Tracey B.]

My husband has suggested this and I want to know what other landlords think. We have a great family that has lived in unit for 1 year with no issues, always pay on time, never bothers us. They are immigrants with low paying jobs and pretty much work to pay us. They want to move out because they said they need a cheaper place to live. Would you lower the rent say 50 to 100 bucks to keep such people? Has anyone ever done this and if so, did tenants stay good tenants or get cocky?

[Mark N.A]

I've lowered rents in the past to keep or find good tenants. That's why buying 'low' is so crucial.

I've also let good tenants temporarily 'slide' on rents -- over $2000 one time -- and now they're all caught up. That's a rare case, though.

Point being REI is not just a numbers game, it's a 'knowing people' game, too.