Tenant is unhappy with the rent increase

OP

Member since 2021 · 402 posts · 277 votes

This is why property management isn't for a lot of people. Getting emotionally invested in the situation, caring what a tenant feels, texting with tenant, etc. Rather than treating this as a business. You notify tenant if you decide to increase rent. Tenant leaves or pays higher rent. That's it. Nothing else matters.

Thanks for your comment. I was doing extra things for this tenant like allowing him to text me. It will change. And I am not that emotional I just wanted to see what other are doing. I am a small time investor and hiring a PO, even a good one, is not an option for me.

1 Reply

Kar Sun

OP

Member since 2021 · 402 posts · 277 votes

4y

Quote from @John Underwood:

Quote from @Kar Sun:

Quote from @Roy Nash:

Quote from @John Underwood:

I would not do a $400 increase to a good tenant. I'd do maybe $75 to $100 at most in one year.

Agreed $400 is too shocking to the tenants. Our rents have gone up alot in my area in Washington. In some cases my Rents are $400 to $600 under Market even though I have been agressively raising them 10% a year (except duing Covid Eviction Moratorium where it was illegal in WA State). My raises were $75 to $150 max this year averaging about 11% and they just went out with 60 day notices which is alot to most of these people.

yes, it is shocking. so is the gas at the pump, the food and everything else. The market supports my rent increase. I cannot subsidize the tenant. My property is not exactly the "affordable" kind. I will rent it fast if I put it on the market. $400 is not that much for this tenant. He is qualified financially to have it. He just does not want to. I was not trying to get rid of him. But it is doing a serious disservice to self for all my hard work by not raising the rent when the market is screaming for it. All good things come to an end and him paying well under market was a good thing that needs to come to an end. I have gotten more experienced and wiser. And I won't cry if he has to go. In fact, after his mean words I would prefer it. I am in southeast by the way. so thank God I never had to deal with any moratoriums and I am not planning to by carefully selecting tenants.

Look at it from the tenants perspective. They are dealing with higher gas and food and now you are kicking them while they are down. This is not the kind of person I am. I refuse to focus on just the market rent aspect. These are people you are affecting. Just because you can doesn't mean you should. Is this how you would want someone to treat you? I am in the business of taking care of my properties and my tenants.

You were likely already cash flowing on a fixed rate mortgage so your payments have not gone up. It is your fault that you haven't gradually increased the rents every year but you are ok with a shocking price increase to fix your own mistake? Again I am not that person. I don't blame the tenant for being upset. I think if you were in his shoes and are being honest you'd be upset too.

It is my fault that I was being nice. This tenant has the ability to pay $400 extra. I know that because he make as much money as the value of my condo. He just does not want to pay. I did the 3 % raises twice and 0 raises post covid. However the rent went astronomical at the start of this year. From now on I will include the rent raise in my contract.

1 Reply

Kar Sun

OP

Member since 2021 · 402 posts · 277 votes

4y

Quote from @Nathan Gesner:

Quote from @Kar Sun:

We need more numbers to better advise you. What is he currently paying? What's market rate?

If he's $500 below market, a $400 increase would be more than fair. I don't want a tenant - even the very best tenant - getting more than 10% below market.

Based on what you've told us, I suspect he's trying to intimidate you into giving him what he wants. I would just stop offering a renewal and terminate his lease. He can jump into the free market and see how far his dollar goes.

Thanks for your comment. You are 100% correct in your assessment. He is trying to intimidate me. He is currently paying $2100 and he is well off financially. Current market supports $2850 or more as I researched. There are no properties on the market similar to mine. Anything that comes on the market is rented within less than a month as I am following listings on multiple websites. None of the listings so far had the same amenities as mine (garage, pool, fitness, views, location, condition, premium appliances, w/d, dishwasher, walking trails). Most small landlords sold their properties as the market is allowing it. I asked for $2500. In my market there is lots of small corporate apartments for the astronomical prices and geared toward millennial crowd. In my market I am also not obligated to send any price increase letters. Tenant states that summer is a very busy season for him as he is frequently traveling and if he will sign it will be under duress. His contract ends end of summer. It is not my fault he is not looking at the information I send to him and not checking his contract. I really do not want him there anymore after this kind of talk. But in my letter I gave him until July 1st to respond.

0 Reply

Kar Sun

OP

Member since 2021 · 402 posts · 277 votes

4y

Quote from @Scott Mac:

If it were mine, I'd wait for the rent check, if it's the correct amount, on time under the lease terms, I'd do nothing.

If its short, or non-existent or says signed under duress on it...I'd talk to an eviction attorney before deposit.

Because my guess is he will try to pay with a paper check--if he can under the lease.

And you might want to get ready for a turn, because it seems likely that will happen, either by his impetus or yours.

Good Luck!

I actually do not want to sign a new lease with him after his rudeness. My contracts do not have automatic extension because every year I have to update my contract and make sure I am covered.

0 Reply

Kar Sun

OP

Member since 2021 · 402 posts · 277 votes

4y

Quote from @Bruce Woodruff:

Quote from @Tavares L.:

Can your savings cover the vacancy rate and turnover? If so, don't fear not being able to locate another quality tenant at the expense of cheating your business.

Yep, and even if you lose a little $$ now, it's always better to have a great new tenant....

100% agreed. I am not worried at all about vacancy. I work and make a decent salary and I plan to keep the property in my family. Any money "lost" on vacancy is peanuts in the long run.

2 Reply

Harish V.

Investor · Fremont, CA · Member since 2015 · 211 posts · 125 votes

4y

Quote from @Kar Sun:

I have a tenant that pays on time and keeps place clean.

I also offer him a desirable place to live that is being taken care of.

To me nice tenant is not the one who expects me to subsidize their rent.

I provide a service and a roof and that is why I have responsible tenants that I chose to have a professional relationship with.

The place has lot of very desirable amenities and has a great location..

He has been with me for 3 years and I have only raised rent $125 in all these years and last year there was no rate increase.

However, things have changed.

I have expenses, taxes and other costs that must be covered as otherwise I will be in negative..

Also, there is a lot of demand.

I sent a very nice letter to a tenant stating the data and a comparison rate with the market properties.

In my market rental properties went up 124%.

The hike is $400.

Small apartments in my area go for the same as my discounted rate for him.

But the place is spacious and is a townhouse.

He is highly unhappy.

He calls it is a money grab.

He is saying that he is under duress if he decides to stay as summer is a busy season for him.

Well, the contract ends end of summer and the rate increase letter went out prior to that.

There is no rent control in my state.

And in my state I do not even have to send rent increase letters.

This tenant makes 300K in income.

I have been nice responding to his texts but it makes me think if I actually want to keep dealing with him.

He states that my property is not worth the increase.

Well, my property is in such a location and condition that it is difficult to find anything similar.

It is also a business.

Any one wants to share a relevant experience?

Please do not bother to send me points on how to write letters to tenants; mine was very much to a point with all the data, comparison photos, prices....

I just think if as a business person himself he does not value my business why should I renew the contract especially now he says he is under duress.

If you want to be nice explain tax and inflation are causing this, so they can vote correctly when parcel tax and other measures appear on ballot.

Although you do not need to tell them anything, just provide option and let them decide. The said person is making 300k/yr as per you, so is very aware of increases in pay and inflation and is probably enjoying the benefits or higher pay. You should not help them at your expense. If tomorrow rents fall or you are in trouble, they will not pay extra. You cannot make up lost time.

And people voting for higher taxes and inflation should be reminded of negative effects too.

2 Reply

Kar Sun

OP

Member since 2021 · 402 posts · 277 votes

4y

Quote from @Harish V.:

Quote from @Kar Sun:

I have a tenant that pays on time and keeps place clean.

I also offer him a desirable place to live that is being taken care of.

To me nice tenant is not the one who expects me to subsidize their rent.

I provide a service and a roof and that is why I have responsible tenants that I chose to have a professional relationship with.

The place has lot of very desirable amenities and has a great location..

He has been with me for 3 years and I have only raised rent $125 in all these years and last year there was no rate increase.

However, things have changed.

I have expenses, taxes and other costs that must be covered as otherwise I will be in negative..

Also, there is a lot of demand.

I sent a very nice letter to a tenant stating the data and a comparison rate with the market properties.

In my market rental properties went up 124%.

The hike is $400.

Small apartments in my area go for the same as my discounted rate for him.

But the place is spacious and is a townhouse.

He is highly unhappy.

He calls it is a money grab.

He is saying that he is under duress if he decides to stay as summer is a busy season for him.

Well, the contract ends end of summer and the rate increase letter went out prior to that.

There is no rent control in my state.

And in my state I do not even have to send rent increase letters.

This tenant makes 300K in income.

I have been nice responding to his texts but it makes me think if I actually want to keep dealing with him.

He states that my property is not worth the increase.

Well, my property is in such a location and condition that it is difficult to find anything similar.

It is also a business.

Any one wants to share a relevant experience?

Please do not bother to send me points on how to write letters to tenants; mine was very much to a point with all the data, comparison photos, prices....

I just think if as a business person himself he does not value my business why should I renew the contract especially now he says he is under duress.

If you want to be nice explain tax and inflation are causing this, so they can vote correctly when parcel tax and other measures appear on ballot.

Although you do not need to tell them anything, just provide option and let them decide. The said person is making 300k/yr as per you, so is very aware of increases in pay and inflation and is probably enjoying the benefits or higher pay. You should not help them at your expense. If tomorrow rents fall or you are in trouble, they will not pay extra. You cannot make up lost time.

And people voting for higher taxes and inflation should be reminded of negative effects too.

Thank you. I actually sent him letter with a clear explanation of reasons, provided market data and photos of properties for rent, prepared a spreadsheet with the amenities for the comparable properties and included a form to return. All properties that I listed for him that were comparable and were available 2 weeks ago have already been rented. He just does not want to pay.

0 Reply

Harish V.

Investor · Fremont, CA · Member since 2015 · 211 posts · 125 votes

4y

Quote from @Kar Sun:

Quote from @Harish V.:

Quote from @Kar Sun:

I have a tenant that pays on time and keeps place clean.

I also offer him a desirable place to live that is being taken care of.

To me nice tenant is not the one who expects me to subsidize their rent.

I provide a service and a roof and that is why I have responsible tenants that I chose to have a professional relationship with.

The place has lot of very desirable amenities and has a great location..

He has been with me for 3 years and I have only raised rent $125 in all these years and last year there was no rate increase.

However, things have changed.

I have expenses, taxes and other costs that must be covered as otherwise I will be in negative..

Also, there is a lot of demand.

I sent a very nice letter to a tenant stating the data and a comparison rate with the market properties.

In my market rental properties went up 124%.

The hike is $400.

Small apartments in my area go for the same as my discounted rate for him.

But the place is spacious and is a townhouse.

He is highly unhappy.

He calls it is a money grab.

He is saying that he is under duress if he decides to stay as summer is a busy season for him.

Well, the contract ends end of summer and the rate increase letter went out prior to that.

There is no rent control in my state.

And in my state I do not even have to send rent increase letters.

This tenant makes 300K in income.

I have been nice responding to his texts but it makes me think if I actually want to keep dealing with him.

He states that my property is not worth the increase.

Well, my property is in such a location and condition that it is difficult to find anything similar.

It is also a business.

Any one wants to share a relevant experience?

Please do not bother to send me points on how to write letters to tenants; mine was very much to a point with all the data, comparison photos, prices....

I just think if as a business person himself he does not value my business why should I renew the contract especially now he says he is under duress.

If you want to be nice explain tax and inflation are causing this, so they can vote correctly when parcel tax and other measures appear on ballot.

Although you do not need to tell them anything, just provide option and let them decide. The said person is making 300k/yr as per you, so is very aware of increases in pay and inflation and is probably enjoying the benefits or higher pay. You should not help them at your expense. If tomorrow rents fall or you are in trouble, they will not pay extra. You cannot make up lost time.

And people voting for higher taxes and inflation should be reminded of negative effects too.

Thank you. I actually sent him letter with a clear explanation of reasons, provided market data and photos of properties for rent, prepared a spreadsheet with the amenities for the comparable properties and included a form to return. All properties that I listed for him that were comparable and were available 2 weeks ago have already been rented. He just does not want to pay.

Then he has to move. Sorry but you should not be working to increase his savings.

2 Reply

Harish V.

Investor · Fremont, CA · Member since 2015 · 211 posts · 125 votes

4y

Quote from @Kar Sun:

Quote from @Harish V.:

Quote from @Kar Sun:

I have a tenant that pays on time and keeps place clean.

I also offer him a desirable place to live that is being taken care of.

To me nice tenant is not the one who expects me to subsidize their rent.

I provide a service and a roof and that is why I have responsible tenants that I chose to have a professional relationship with.

The place has lot of very desirable amenities and has a great location..

He has been with me for 3 years and I have only raised rent $125 in all these years and last year there was no rate increase.

However, things have changed.

I have expenses, taxes and other costs that must be covered as otherwise I will be in negative..

Also, there is a lot of demand.

I sent a very nice letter to a tenant stating the data and a comparison rate with the market properties.

In my market rental properties went up 124%.

The hike is $400.

Small apartments in my area go for the same as my discounted rate for him.

But the place is spacious and is a townhouse.

He is highly unhappy.

He calls it is a money grab.

He is saying that he is under duress if he decides to stay as summer is a busy season for him.

Well, the contract ends end of summer and the rate increase letter went out prior to that.

There is no rent control in my state.

And in my state I do not even have to send rent increase letters.

This tenant makes 300K in income.

I have been nice responding to his texts but it makes me think if I actually want to keep dealing with him.

He states that my property is not worth the increase.

Well, my property is in such a location and condition that it is difficult to find anything similar.

It is also a business.

Any one wants to share a relevant experience?

Please do not bother to send me points on how to write letters to tenants; mine was very much to a point with all the data, comparison photos, prices....

I just think if as a business person himself he does not value my business why should I renew the contract especially now he says he is under duress.

If you want to be nice explain tax and inflation are causing this, so they can vote correctly when parcel tax and other measures appear on ballot.

Although you do not need to tell them anything, just provide option and let them decide. The said person is making 300k/yr as per you, so is very aware of increases in pay and inflation and is probably enjoying the benefits or higher pay. You should not help them at your expense. If tomorrow rents fall or you are in trouble, they will not pay extra. You cannot make up lost time.

And people voting for higher taxes and inflation should be reminded of negative effects too.

Thank you. I actually sent him letter with a clear explanation of reasons, provided market data and photos of properties for rent, prepared a spreadsheet with the amenities for the comparable properties and included a form to return. All properties that I listed for him that were comparable and were available 2 weeks ago have already been rented. He just does not want to pay.

Then he has to move. Sorry but you should not be working to increase his savings.

2 Reply

Bruce WoodruffPro Member

Contractor/Investor/Consultant · San Diego / Phoenix · Member since 2021 · 12k+ posts · 15k+ votes

4y

Quote from @Harish V.:

People that vote like that are not smart enough to understand......

1 Reply

Kar Sun

OP

Member since 2021 · 402 posts · 277 votes

4y

Quote from @Bruce Woodruff:

Quote from @Harish V.:

People that vote like that are not smart enough to understand......

They are sure dim wits and useful idiots. They vote for more taxes, more regulations, more three letter agencies. When the bureaucracy gets huge, costly, inefficient. Everything gets more expensive, services degrade, too many laws, regulations chocking the small business owner and essentially destroying the middle class. On one end these agencies create tougher useless rules, on another end they allow for more problems so that they can keep the racket going. And this whole industry of attorneys is feeding on this. In the end the consumer pays with their finances or their lives. It is mafia. But they love to find an invisible enemy. Landlords are now the enemies because they apparently cause the inflation and create laws and rules. Go figure. We need to get rid of these HUDs and all three letter dangerous and corrupt privately funded lobbyist organizations.

3 Reply

Wale LawalBusiness Member

Real Estate Broker · Houston | Dallas | Austin, TX · Member since 2018 · 5k+ posts · 2k+ votes

4y

Hello Kar,

You have hiked the rent $125 in last 3 years, so even though the rental properties went up 124% in your area, a hike of $400 might be to big for him at one shot. Please discuss with him and figure out a plan to hike the rent gradually.

All the best!

[email protected]832-776-9582 Podcast Guest on Show #469

NETWORTH BUILDERS5236 Reviews

Website View Page

0 Reply

Kar Sun

OP

Member since 2021 · 402 posts · 277 votes

4y

Quote from @Wale Lawal:

Hello Kar,

You have hiked the rent $125 in last 3 years, so even though the rental properties went up 124% in your area, a hike of $400 might be to big for him at one shot. Please discuss with him and figure out a plan to hike the rent gradually.

All the best!

Thanks Wale. My decision is final. And I actually won't renew his lease after he told me all the "compliments" for my outstanding service. I would rather rent it to someone who loves the property and appreciates my work.

0 Reply

Joseph R. Smith

Rental Property Investor · Carthage, NY · Member since 2019 · 72 posts · 47 votes

4y

It sounds to me like the problem was, "I provide a service and a roof...", ..."with all the data, comparison photos, prices....". I would have simply said, "Due to inflationary times to meet expenses". In other words, a growing percentage of the country, disproportionately tenants, believe in contrast in a "right to housing" and various socialistic trains of thoughts. By making a long spelled out business point, you did just that-made a case. Why in turn the door was opened for a tenant to make a case in response. I dont attempt to rationalize with tenants, assuming they are businesslike. The professional relationship as you said, was made personal. :/

0 Reply

Jake KnightPro Member

Property Manager · Indianapolis · Member since 2017 · 303 posts · 146 votes

4y

I would definitely increase the rent let's say 3% depending on your market. I agree with the philosophy of doing it in smaller increments as well maybe $50-$100 at a time. You don't have to justify it with your tenant either, it's a business. Tenants will try to personalize everything. If the tenant starts looking at comp properties in the same location he should realize you're being reasonable and won't be incentivized to move. On the flip side, if you feel like you could get market rent with a short vacancy $400 under market is significant you may give him notice or the option to pay market rent. I see either option as a win-win. If he stays, no vacancy and good renter. If he moves, better cash flow but some vacancy and some uncertainty about new renter.

0 Reply

Kar Sun

OP

Member since 2021 · 402 posts · 277 votes

4y

Quote from @Jake Knight:

I would definitely increase the rent let's say 3% depending on your market. I agree with the philosophy of doing it in smaller increments as well maybe $50-$100 at a time. You don't have to justify it with your tenant either, it's a business. Tenants will try to personalize everything. If the tenant starts looking at comp properties in the same location he should realize you're being reasonable and won't be incentivized to move. On the flip side, if you feel like you could get market rent with a short vacancy $400 under market is significant you may give him notice or the option to pay market rent. I see either option as a win-win. If he stays, no vacancy and good renter. If he moves, better cash flow but some vacancy and some uncertainty about new renter.

I am not looking to renew my lease with him after he expressed his deep dissatisfaction and disappointment. He also stated that if he signs it will be under "duress". I cannot have any tenant on my property who uses such words. It is a legal term and I do not want to have anyone on my property who feels that way. It is a trouble in making. My gut says No. And I will follow it.

0 Reply

Nathan GesnerBusiness Member

Moderator

Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes

4y

Quote from @Kar Sun:

I would rescind the offer. You're not legally obligated to leave it hanging for his convenience.

He's not a fair person. He wants to screw you to better his situation, then he'll probably break the lease and buy something with all the money he's saving.

$300 below market is $3,600 that you are supplementing him.

Tell him you've changed your mind and will not extend his lease because you need market rate. He can pay it and save the moving costs, or he can move somewhere else and you can find someone willing to pay you what you are worth.

The DIY Landlord Book4.7247 Reviews

Website View Page

3 Reply

Kar Sun

OP

Member since 2021 · 402 posts · 277 votes

4y

Quote from @Nathan Gesner:

Quote from @Kar Sun:

I would rescind the offer. You're not legally obligated to leave it hanging for his convenience.

He's not a fair person. He wants to screw you to better his situation, then he'll probably break the lease and buy something with all the money he's saving.

$300 below market is $3,600 that you are supplementing him.

Tell him you've changed your mind and will not extend his lease because you need market rate. He can pay it and save the moving costs, or he can move somewhere else and you can find someone willing to pay you what you are worth.

Thank you. You got it right. I scheduled a call with him as sending him certified letters is useless because he is away most of the months this summer. He does not respond to the messenger system in a tenant portal and he does not respond to email. He may respond to texts. Although he has to send the form back to me by July 1st I will convey the message to him during the call and send communications regarding non renewal via messenger and email at the same time for archiving purposes. He is mostly concerned about his own business and now I can definitely see that his obligations to me are not the priority. There were couple of other things I did not pursue like him not getting the renters personal liability insurance to the limit I set and a persistent refusal to report issues via a ticketing system (because he is too busy). He got into a habit of texting me and I was going along with it despite my contract saying otherwise.

0 Reply

James Wise

Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 31k+ posts · 20k+ votes

4y

Quote from @Kar Sun:

I have a tenant that pays on time and keeps place clean.

I also offer him a desirable place to live that is being taken care of.

To me nice tenant is not the one who expects me to subsidize their rent.

I provide a service and a roof and that is why I have responsible tenants that I chose to have a professional relationship with.

The place has lot of very desirable amenities and has a great location..

He has been with me for 3 years and I have only raised rent $125 in all these years and last year there was no rate increase.

However, things have changed.

I have expenses, taxes and other costs that must be covered as otherwise I will be in negative..

Also, there is a lot of demand.

I sent a very nice letter to a tenant stating the data and a comparison rate with the market properties.

In my market rental properties went up 124%.

The hike is $400.

Small apartments in my area go for the same as my discounted rate for him.

But the place is spacious and is a townhouse.

He is highly unhappy.

He calls it is a money grab.

He is saying that he is under duress if he decides to stay as summer is a busy season for him.

Well, the contract ends end of summer and the rate increase letter went out prior to that.

There is no rent control in my state.

And in my state I do not even have to send rent increase letters.

This tenant makes 300K in income.

I have been nice responding to his texts but it makes me think if I actually want to keep dealing with him.

He states that my property is not worth the increase.

Well, my property is in such a location and condition that it is difficult to find anything similar.

It is also a business.

Any one wants to share a relevant experience?

Please do not bother to send me points on how to write letters to tenants; mine was very much to a point with all the data, comparison photos, prices....

I just think if as a business person himself he does not value my business why should I renew the contract especially now he says he is under duress.

Never met a tenant who was happy about getting a rent increase. If you think it's the right move for your bottom line, then the tenant's feelings are irrelevant.

2 Reply

Harish V.

Investor · Fremont, CA · Member since 2015 · 211 posts · 125 votes

4y

Let Tenant know offer expires 7 days after presenting and is subject to change. Increase offer by 100$ each week.

4 weeks before lease end. Say no more offer.

0 Reply

Kar Sun

OP

Member since 2021 · 402 posts · 277 votes

4y

Quote from @James Wise:

Quote from @Kar Sun:

I have a tenant that pays on time and keeps place clean.

I also offer him a desirable place to live that is being taken care of.

To me nice tenant is not the one who expects me to subsidize their rent.

I provide a service and a roof and that is why I have responsible tenants that I chose to have a professional relationship with.

The place has lot of very desirable amenities and has a great location..

He has been with me for 3 years and I have only raised rent $125 in all these years and last year there was no rate increase.

However, things have changed.

I have expenses, taxes and other costs that must be covered as otherwise I will be in negative..

Also, there is a lot of demand.

I sent a very nice letter to a tenant stating the data and a comparison rate with the market properties.

In my market rental properties went up 124%.

The hike is $400.

Small apartments in my area go for the same as my discounted rate for him.

But the place is spacious and is a townhouse.

He is highly unhappy.

He calls it is a money grab.

He is saying that he is under duress if he decides to stay as summer is a busy season for him.

Well, the contract ends end of summer and the rate increase letter went out prior to that.

There is no rent control in my state.

And in my state I do not even have to send rent increase letters.

This tenant makes 300K in income.

I have been nice responding to his texts but it makes me think if I actually want to keep dealing with him.

He states that my property is not worth the increase.

Well, my property is in such a location and condition that it is difficult to find anything similar.

It is also a business.

Any one wants to share a relevant experience?

Please do not bother to send me points on how to write letters to tenants; mine was very much to a point with all the data, comparison photos, prices....

I just think if as a business person himself he does not value my business why should I renew the contract especially now he says he is under duress.

Never met a tenant who was happy about getting a rent increase. If you think it's the right move for your bottom line, then the tenant's feelings are irrelevant.

Yes, I would not be happy either. But then I would make the decision whether I wanted to pay and keep my lifestyle or size down and get used to less convenience, comfort, and amenities. It is that simple. I would not tell my landlord that he is "a money grabber", and his property is not worth it, and that his raise is laughable and ridiculous, and that he will sign under "duress". It is called emotional immaturity. All he has to do is to look at the prices of properties and rents now to see that he is getting a steal. He is also a person of means. He is not some poor Joe that has to work at the store as a cashier or deliver pizza. He just wants what he wants and his model of business and conduct no longer works for me. It is that simple.

0 Reply

Kar Sun

OP

Member since 2021 · 402 posts · 277 votes

4y

Quote from @Harish V.:

Let Tenant know offer expires 7 days after presenting and is subject to change. Increase offer by 100$ each week.

4 weeks before lease end. Say no more offer.

Thanks. But I do not want him. Not for the discounted offer, not for a full price. He is highly unhappy and those people do not make good tenants. He wants me to be losing the income where he can save more money. Then I will be good. It does not work for me.

2 Reply

Brett Lee

Member since 2021 · 9 posts · 8 votes

4y

@Kar Sun

I am unhappy with my tax increases the last couple of years and I'm sure you are as well. But it is what it is and that also transfers to increased rent etc....

1 Reply

Debbie Woodruff

Member since 2022 · 4 posts · 2 votes

4y

Quote from @Kar Sun:

Quote from @Bill B.:

Exactly. Then situation #2 occurs. The tenant finds out you are still being generous with your rates. And either they pay it because they love their standard of living and hate moving. Or realize they can no longer afford their same standard of living. I assume you wouldn’t write your tenant a check every month for $400. That’s basically what you’d doing when charging under market. PLUS, if the “saviors” ever come in and pass rent control you’re screwed because you were nice.

GL.

He was actually pretty mean when texting me stating that my property is not worth it and it is a money grab.

He was also saying that my mortgage did not change and that he was checking with the neighbors.

I really do not like that he is doing all this snooping.

That does not look good.

Also he stated if he accepts it is under a duress.

I really do not want to have a relationship with a tenant who sees the contract as a "duress".

I am not sure why he is doing it, perhaps he has been traveling a lot and is stressed.

Just because your mortgage payment has not increased, does not mean everything else has. Insurance, maintenance, etc, have all increased. Repair cost has exploded and if anything has to be replaced.

The way I see it, you have followed your lease contract with notices, amount of increase, etc. If he fails to acknowledge at the time of increase with the funds or notice to vacate; start eviction process.

To me threatening with "duress" is unacceptable.

0 Reply

Kar Sun

OP

Member since 2021 · 402 posts · 277 votes

4y

Quote from @Debbie Woodruff:

Quote from @Kar Sun:

Quote from @Bill B.:

Exactly. Then situation #2 occurs. The tenant finds out you are still being generous with your rates. And either they pay it because they love their standard of living and hate moving. Or realize they can no longer afford their same standard of living. I assume you wouldn’t write your tenant a check every month for $400. That’s basically what you’d doing when charging under market. PLUS, if the “saviors” ever come in and pass rent control you’re screwed because you were nice.

GL.

He was actually pretty mean when texting me stating that my property is not worth it and it is a money grab.

He was also saying that my mortgage did not change and that he was checking with the neighbors.

I really do not like that he is doing all this snooping.

That does not look good.

Also he stated if he accepts it is under a duress.

I really do not want to have a relationship with a tenant who sees the contract as a "duress".

I am not sure why he is doing it, perhaps he has been traveling a lot and is stressed.

Just because your mortgage payment has not increased, does not mean everything else has. Insurance, maintenance, etc, have all increased. Repair cost has exploded and if anything has to be replaced.

The way I see it, you have followed your lease contract with notices, amount of increase, etc. If he fails to acknowledge at the time of increase with the funds or notice to vacate; start eviction process.

To me threatening with "duress" is unacceptable.

Good points. I will just let him now that I will not renew so he does not have to bother to get me the offer form back. I won't do an eviction as there is no need at this point and he had about 70 days to the end of his lease.

1 Reply

Tenant is unhappy with the rent increase

Tenant is unhappy with the rent increase

Most Popular Reply

149 Replies