Every landlord has that one friend, uncle, or social media “expert” who swears by this strategy: jack the rent up a little, and you’ll attract better tenants.
The logic goes like this: If someone can afford more, they’re probably more responsible. They’ll treat the place right, pay on time, and be less of a headache overall.
Sounds smart, right?
Yeah, no. That’s not how any of this works.
Let’s break down why this strategy is garbage—and what actually works if you want good tenants without the drama.
So Here’s What Landlords Think They’re Doing
They think pricing their unit above market creates a velvet rope situation. Like only the high-credit, stable-job, never-late types are going to apply. And maybe they’ll be so financially secure they’ll happily overpay $100 a month just to live in your place.
Let me stop you right there.
Nobody with their financial life together is out here excited to overpay for a rental. Qualified tenants are smart shoppers. They’re using filters on Zillow, comparing properties, and doing the math. They’re not out here handing out bonus rent for no reason.
So what happens when you overprice?
The good tenants scroll right past you.
And who applies? The folks who:
Don’t know the market (and will be mad once they figure it out)
Don’t plan to stay long
Are desperate and willing to say anything just to get in
Not exactly the dream pool of applicants.
Here’s What Actually Works
You want qualified tenants who pay on time, take care of the place, and don’t ghost you on day 90? It’s not about pricing—it’s about screening.
The real secret is having a clear and consistent application process. That means:
Pulling credit reports
Checking landlord references
Running criminal background checks
Verifying income
That’s it. That’s the whole trick. We do this thousands of applications a year at my property management company and it works. The 1% eviction rate per year is evidence.
Why This Myth Sticks Around
I get it. You’re trying to protect yourself. You don’t want a tenant who trashes the place or flakes on rent. So it’s tempting to use price like a security gate.
But all this pricing game does is keep the right people from even walking up.
Overpricing doesn’t filter out bad tenants—it filters out everyone. And you’re left with a vacant unit, wondering what went wrong while the bills keep rolling in.
Here’s Your Takeaway
If you’ve been tempted to play the “higher rent = better tenant” game—stop. Just stop. That strategy doesn’t protect you. It sets you up for longer vacancy, weaker applicants, and more headaches.
Put your energy where it actually matters: in a solid screening process.
I’m PM Jen, the—landlord educator, real estate investor, and your favorite straight-talker in the buy-and-hold game. Hold It With PM Jen exists to help real estate investors protect their assets, grow their cash flow, and stop spinning their wheels.
Our mission is simple: help you hold properties smarter, longer, and with way less bullshit. Whether you're new to real estate or knee-deep in it, I’m here to help you hold strong and grow big.