Posted by David Krulac on September 21, 2004 at 22:36:34:
gasoline is $1.749 instead of $1.75, why? Price point pricing. $0.99 always sounds lower than $1.00.
a $695 rent is moe attractive than $705. It just is.
lowering your rent to something ninety -five from what ever it is is a good move. If your rent is $1,200 and even if you have gotten $1,200 in the past, but are having lots of difficulties now, then lower the rent not to $1,195 but to $1,095 or even $995.
Vacancy is a rental profit killer. One month’s lost rent of $1,200, is the same yearly gross as charging $1,100 with no vacancy. Which is almost the same as $1,095. The rental market is tough in most arkets because of the low interest rates for mortgages and the abundance of programs for first time home buyers with little or nothing down. Until the interest rates increase there will be more people trying to buy than rent.
Study your market and appeal to those in your market who are the renters. Do your research and find out the demographics that you want to appeal to and make your product desirable to them both in asthetics and financial matters.