Good tenants are a commodity worth investing in. Not only are they hard to find, but once you find them you need to give them good reason to stay in your unit. As a rental owner it is…a good idea to not charge too high of rent. If you keep your rents just slightly below market value it helps your tenants WANT to rent your unit and take an active interest in pleasing you as the property owner, thus retaining your interest in them.
Lower the rent $25 a month, and for $300 a year you’re almost guaranteed full occupancy and tenants that care. That’s a third a months rent for most rentals. When you have a vacancy it commonly lasts two weeks to a month. Taking into account advertising and cleaning expenses (just to name a few of the expenses you may encounter) the slight reduction in monthly revenue can feel more like money in your pocket.