I’ve probably always slightly under priced, by say $100 but then get good quality.
I did have one recently, no 3/4BR SFHs were at the $4K price point in 92127 so I listed at that price and boom the next day 3 came on the market.
Still managed to lease out in five days with a $100 cut. I don’t think big moves are needed, just be responsive. I find most tenants prefer to deal with landlord directly vs mgmt company. In 15-20 years, I may have to reconsider if I want to do that though.