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Replies (4)
- Derek Zasaretti, "Derek_Zasaretti"
- Contributions:343
Periodic rent increases are not uncommon. Weigh your pros and cons. Have you seen an increase in taxes or other overhead? A good time to raise rent is after a vacancy. This way your tenant won't be blindsided by a large increase and you both are happy. Another way is to set your increase and then gradually increase the rent to that amount. Ex. $50 rent increase payable $25 for 2 months and then $50 thereafter, that way your tenant can adjust accordingly.
- mozartd99
- Contributions:6
thank you very much Derek
- Melissa Woycechowsky, "Melsky"
- Contributions:26
See what other similar properties to yours are renting for. Just like selling a house, it doesn't matter what your expenses are or what you want, it's what the market price is compared to other properties.
- wetdawgs
- Contributions:26837
Rent increases need to be part of the big picture. How much (%) have the increases been in the last couple of years (if you have the same tenant)? What percent are you proposing? If it is higher than the cost of living increase nationwide, what has changed to justify the increase being so large?
In your other post you described an increase of approximately 15% last year and were proposing another 7 to 14% increase this year. Those increase are not, IMHO, reasonable.
In your other post you described an increase of approximately 15% last year and were proposing another 7 to 14% increase this year. Those increase are not, IMHO, reasonable.
RENT
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