When you enter a new market, how do you set your initial rent to own pricing?
I’m in a very tight rental market, so much so that there are few to no parks on my side of town advertising mobile homes for rent.
So far my strategy has been to look up mid range apartments for rent nearby, and then price Rent Credit Programs $100-$200 less per month.
Any other ideas?
Also, in my last market, I struggled with a higher turnover rate. After a while, I experimented with pricing homes below what I was charging, and getting, before and found that the lower price noticeably reduced turnover. That experience is only from a single park though, has anyone else experienced this before?