I am constantly told by property owners to “Charge a high rent so that we get a better tenant. We don’t want riff raff.”
Where does this idea come from?
If a consumer is looking to buy something, do they look for the most expensive one or the cheapest one?
Who cares the least amount the rent price? The person who doesn’t plan to pay it anyway. The person who is desperate. The person who is clueless to the fair market value.
People with stolen credit cards don’t care what anything costs.
Price your rental property in the right price range to get the best tenant.