So you’re San Diego rental property management and you now have a rental property to market. After completing your analysis of your local rental market and taking into consideration any concessions, you need to set your final asking price. You can do so by formulating a marketing strategy to ensure you get the best price for your rental property management in San Diego.
Here are your options:

Quote a higher gross asking rent, which is similar to the “suggested retail price” that stores use, and then offer rental concessions to attract the attention of your prospective target market.

Go with a lower effective asking rent that is the net of the rental concessions prevalent in the market.

If you like to negotiate and can sell the special offer, the gross rent method is for you. Inevitably, some prospective tenants are attracted to rental properties offering a special; at least that’s the impression I get when some prospects call about a rental property and the first words out of their mouths are, “What’s your special?” Be sure to watch out for tenants who are just looking for the special discount off the rent up front, because they likely aren’t the long-term quality tenants you want (and need) to be a successful rental property owner.

Regardless of which marketing strategy you take, avoid the temptation to set your rent based on the number of occupants your rental unit can hold. Some landlords have a policy that the base rental rate is for a certain number of tenants; they then charge more for each additional tenant in the unit. This practice is sometimes called per head rent. However, the Department of Housing and Urban Development considers such policies violations of the Fair Housing Act. The only exception is if you can show a legitimate business necessity, or verifiable increased cost to maintain your rental property, such as higher water or sewage bills. If you think you can prove a business necessity, check with your landlord-tenant legal expert before setting rents. Otherwise, take my advice and avoid these turbulent waters.

Ultimately, your marketing strategy is often influenced by what’s most commonly done in your local rental market, but don’t be afraid to incorporate your personal style.