What if a landlord wants a certain amount of rent?

Every property owner wants to maximize the amount of rent they can charge for a unit. However, the market at the time of turn-over dictates the rent. Please remember "market value" really means what someone is willing to pay!

If the price is set too high, the unit will sit vacant for months. It's a scary prospect, especially if you're leveraged by a mortgage.

A much better pricing strategy would be to reduce the rent slightly in the beginning to a more competitive rate. Typically, the math works out to be better for you in the long run.

In our professional opinion, once a rental price is set, and we are not receiving any interest, the rental amount is too high. If people are viewing but not moving forward and finding something else, the rent is too high.

Ultimately it is the landlord's decision on what they want or needs for rental income. However, we have an open dialogue with the owners and the state of the current rental market. We actively monitor and re-access our rental units every week. We may re-adjust the pricing and fee structure to get the unit rented promptly. We want to ensure our clients are getting maximum rental income and avoid costly ongoing vacancies.