General Landlording & Rental Properties
Market News & Data
General Info
Real Estate Strategies

Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal


Real Estate Classifieds
Reviews & Feedback
Updated over 5 years ago on . Most recent reply

Testing Out a Higher Rent
Do you think it is worth "testing the waters" on rent (making it little higher) and if no one applies then lower the rent after a couple of weeks on the market.
Ie. Rent is a comfortable $850, but I see value in a unit that lends it to be $900-950.
Should I see if anyone is interested at 950?
Looking for pros and cons, Thanks for the thoughts!
Most Popular Reply

If it's in a decent area where the vacancy doesn't mean that things start walking off, then it's really just a personal question of 'is it worth the wait?' It sounds like you're just trying to rent above market, which usually lends to you using a leasing agent in your area that may know some tenants that want a few more bells and whistles to be worth more every month.
Instead of $100 over, try $895 and see if that can get you where you want, knowing that if the tenant is solid, you can get to $925 next year and that will help you get the rent you want without pricing the tenant out.