21% Rent Increase - I'll Take It!
I have a small win to report – a 21% rent increase I recently achieved in one of my duplex units.
It started by me posting the vacancy on craigslist at 12% above what my current tenants pay.
Long story short, a flurry of interest eventually turned into a bidding war among several prospective tenants who came by for showings and also met my qualifications. I’m happy with the pair of girls who won out and have my deposit money in hand!
Thank you Brandon Turner for Tenant Screening: The Ultimate Guide. I used SmartMove for final screening and was very happy with it. I also picked up a couple other good nuggets from the guide.
The rent increase isn't big in the scheme of things, but I'm happy to have this unexpected boost to my NOI for the property. In addition, this will give me 0% vacancy for the year as long as current leases are honored
Happy investing,