Raising rents on renewal single family units

[Matthew Moore]

I’m newer to real estate investing and this has been a crazy year for inflation, I was wondering how much everyone is raising rents for renewal contracts on their single family units. I am looking for percentages seeing as CPI has hit 6.2%. Thanks in advance. 

[Grant Thompson]

Matthew,

It is a bit difficult to go about raising rents on the basis of inflation alone. We typically look to the local market and its comps to justify what rents we can charge for new occupancy and renewals.