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> they only have 12,000 clients When you perform said Zillow or Craigslist search, do you settle for the higher end of the range of prices or the low end? Rea
by seydor 2y ago
> they only have 12,000 clients
When you perform said Zillow or Craigslist search, do you settle for the higher end of the range of prices or the low end? Realpage only needs to manipulate a relatively small number of listings to have a huge impact in all rent prices.
- legitster 2y agoThe lower end! I usually undercut the market rate by ~$50. My house rents for $2400 a month. If I leave it on the market for just a month I would lose more money than I would gain in 2 years at a higher rent! So the incentive is to get it rented out as quickly as possible and get it booked before the other guy. So my incentive is to be just a bit lower than the other guy so mine goes first. I will not deny that the market rate for housing is absurdly high, but it is still a market and incentives still matter.
- bluGill 2y agoThat is because you only have one or a few units. When you have many units the numbers work out very different for empty units in exchange for higher rent.