How often do you raise the rent on Tenants?
I was wondering what other Landlords are doing about raising rents. Do you only raise rents when your costs go up? Do you raise them to be close to market rents? Do you raise them yearly or rarely raise them?
I have had tenants for 3 years paying above $1250/mth and I am raising their rent $25/mth. Of course they complained but brought up the point that their past 2 landlords never raised their rent in the 5 and 9 years they rented.
Wanted to know what other landlords are doing.