I'm interested in rental pricing. So, here are three questions I have for renters and rentees... Renters: Do you rent your property(s) at the current market price, or above or below? Rentees: Do you tend to rent property at, above or below the current market price? Do you research prices before signing a lease?
I am at the current market for my area which is really high. I love this place, but it is getting to the point where there is an increase every year. I insist on living in a complex and that is just the way it is here. I cannot afford to have the heater break and the landlord tell me he does not have the money for repairs. I also know the owner is not going to not pay the mortgage, get foreclosed on and have me thrown out from no wrong doing of my own.
I rent out my apartment at the current value as I think it is quite reasonable price. Also I have got many tenants who are interested in the apartment. I also prefer to keep the price lower at certain times when the demand is very less and I desperately need some tenants.
I was renting it way below the market value, i was more like trashing away my inheritance, thankfully my Dad stepped in and gave me some thorough advice into studying through the current market value, so right now am renting it at the appropriate market rent value ...Thanks Dad
Sometimes it's a good idea to undercut the competition by charging slightly lower prices then raising the rent gradually yearly until you get [it] back to market price. When there is isn't much competition, then sent your rent at current market prices because it's your marketing strategies that will get you tenants.
I normally rent out at the current value, that way I get all I can from it, sometimes renting below can get you customers quickly but you end up loosing afew coins because of going below the current value.
