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Updated about 5 years ago on . Most recent reply

User Stats

61
Posts
21
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Joshua Savage
  • Rental Property Investor
  • Memphis, TN
21
Votes |
61
Posts

Raise the Rent soon?

Joshua Savage
  • Rental Property Investor
  • Memphis, TN
Posted

My tenants' lease is up in June. Before Covid hit, I had considered raising the rent because the house is a bit below market. At least, I don't currently see any other homes in the same zip code as cheap. 


They both have steady jobs and have paid rent on time for the past year.Just asking for opinions. What would you all do? 

Most Popular Reply

User Stats

172
Posts
122
Votes
Ramon Flores
  • Rental Property Investor
  • Los Angeles, CA
122
Votes |
172
Posts
Ramon Flores
  • Rental Property Investor
  • Los Angeles, CA
Replied

@Joshua Savage I am not sure how much below market you are talking about. Is it 25 dollars or 200 dollars under market? Don't forget that the turnover cost will kill your profits. If it is not too much I would advice to keep the rent the same. Hope this helps!

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