Or am I basically stuck at the advertised rent? 

Record tourism, convention and hospitality growth in the city.

As a quick example, how would you know how much money you have available to spend on phones, advertising, marketing, etc. if you do not have a plan in place for the allocation of funds?  

We have to have our office name and number on all of our advertising due to state law. 

There are words you can't even say in an ad when advertising your home. 

This would increase operating expenses and give me a different cap rate then what the owner is advertising 

There are many restrictions on what you can offer, who can invest with you, as well as how or even if you can advertise.

Price reductions are the best advertising.

I let them know that if they don't let me know by the date given, the rent goes up to XX- which is the rent I would be advertising for a new tenant and generally $10-$25 higher than the price I gave them if they were to renew.  

You will have to pay for everything - website, customer contact software, advertising, signs, training, admin help, etc.Most people don't want to get their brokers license and go out on their own because they don't want their butt hanging in the wind.