Posted by RichV(FL) on July 21, 2003 at 18:20:11:
It has helped me in the past. In a tight market you cant always get the rent you want.
What I like to do is put my rents at or slightly below market. I seem to rent them quickly that way.
For example this month I ran an ad in the paper for my rental with a slightly lower rent than other places. My place was clean inside and out. It was in top notch shape and ready to move in.
I ran the ad on Monday the 7th and had a first, last and security by the 12th. Of course the tenat checked out.
So sometimes its ok to ajust a rents in tighter markets. One thing I must say is dont get desperate, keep doing your checks on potential tenants until you find the right one.
Having a vacancy is better that having a nightmare tenant.