Good Tenant for the past year. Would you raise rent?
Would you raise rent in a good tenant that has paid on time without issue for the whole year?
Most Popular Reply
@Will, I would not. But, that is my opinion. I own six properties on Saint Simons Island, GA and a property up in Alexandria, VA. I only mention my number of properties to convey my limited experience. While we all want to make more money, the solid dependable tenant is golden and is worth more to me than a bit of extra money. If you raise the rent on your current, you run the risk of the tenant looking elsewhere. Consider raising the rent after a tenant moves out. My goal for all my properties is to maintain solid long-term renters. Gives me more time for the beach. I recommend finding that balance between great monthly cash flow and keeping great tenants. Just my $.02.