Everyone wants to rent their property at the highest price possible and many times landlords try to price way above market value. Landlords always assume that they can start high and negotiate their way towards a lower price if the client is really interested in the property. In reality, tenants will not even look at a property that is way above their budget. Tenants nowadays are very educated and the wide availability of properties available may not give your asset any special consideration to be priced above everyone else. Higher prices that are beyond normal values will turn off your prospects. Should they even bother to look at your property, you are helping your competitors justify why your tenants should rent their property instead of yours. In the end, you are helping your neighbors lease their properties faster by making your property an example of how much they can save by renting a similar property at a much lower cost. After a few months of not being vacant in the market, the property becomes stale and tenants start suspecting that there is something wrong with your property and they stay away from it even more. In the end, you may end up renting at price lower than market value. Consult a licensed Realtor so you can properly price your rental asset from the start. This will save you time and effort and you will reap the rewards of receiving serious inquiries for your property. Always keep in mind that for every month your property is vacant, you lose that monthly rental income. Your high price may not even recover the income you lost during those vacant periods. Price is right to maximize your profits.