This is regarding an IP we have put on the market through a new PM. Very low vacancy rates in the area and the PM had the keys for over 2 weeks (from the settlement day). The day our IP was advertised, a unit next door came on the market with slightly less rent though it's a smaller kitchen and no two properties are the same.This competing property is being advertised by another agent who charges a lower commission and they have a 3 month free management promotion as well. They received 1 application last week and lost the perspective application on day 4 after they failed to verify his employment. It appears that they asked for excessive documentation from the perspective tenant who worked in government and lost interest after he was asked too much of a paperwork. Now the PM wants to convince us that they will be able to find another very quickly if we dropped the rent by $30. Ofcourse dropping the rent works because it's easier for them. If it was up to them, they would make it free rent and there would be no trouble in finding a tenant. My feeling is that they are just cutting the corners and don't want to put in any effort in finding a tenant. I am thinking of picking up the keys on Monday if they can't find anyone after tomorrow's open and go for that cheaper property manager. Why pay these guys more if I have to drop the rent? Advice please!