[quote=EconProf]As a landlord for many years, I’ve found the best policy is to discover the average market for my units, then ask slightly less and be very picky about chosing tenants. I also raise them slightly each year, always keeping them under (presumably rising) market comps. Tenants are told up front of this policy.
Yes, I’ve seen foolish landlords ask for higher than market rents and then sit on vacancies for a while, or else rent to dregs as tenants. Can’t cure stupid.
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You’re the kind of landlord my family looks for. We take very good care of our rental, have very good credit, and try to pick up the cost of incidentals to avoid nickle-and-diming the landlord (i.e., we’ll pick up the $100 for a plumber here or there, I painted the trim on the house, etc.). In return we ask for competitive rents and general consideration.
