Guide

How to set rent prices without guessing

Rent pricing is a market question with a deadline. Price too high and you pay in vacancy days; price too low and you pay for the whole lease term.

Overview

Rent pricing is a market question with a deadline. Price too high and you pay in vacancy days; price too low and you pay for the whole lease term.

Common mistakes

  • Pricing off last year's rent instead of current comps.
  • Ignoring seasonality in markets with a school-year cycle.
  • Holding an asking price for 45 days rather than losing $80 a month.

Checklist

  • Pull three to five comps within a mile at the same bed/bath count.
  • Adjust for condition, parking, laundry, and pet policy.
  • Check days-on-market for the comps — long listings mean the asking price is above market.
  • Set a floor you will not go below and a target you list at.
  • Reprice after 10 days with no qualified inquiries.
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