When you run into a tenant who's lived in an apartment for a really long time it can be tempting to let them stay there without a rental increase. That's not good business. Market rent goes up, just like your costs of running the property are going to go up. Acquisition cost, taxes, insurance, repairs, property management, utilities etc. All of these cost increase over the years and you need to rent to do the same. While you may not want to double the rent of a tenant who has lived in your apartment building for 45 years, you still need to make sure you aren't losing money by allowing her to live in your property for an extremely discounted price. Subscribe to HoltonWiseTV for more property management tips. At HoltonWise we specialize in helping investors make money through real estate investing in the best cash flow markets across the USA.

She's lived here for 45 years; Time to Raise her Rent | HoltonWiseTV Highlights