Rent Increases
Hi Everyone,
I would like to increase rent but have a tenant that is telling my property manager that they are on fixed income and cannot afford higher rent. The unit is rented under market value and I am only asking for small increase from $800/mo to $830.
This tenant has been in the property for only one year and has been a good tenant and takes care of the place fairly well. I dont want to be in a situation where they always push back and will need to get rent increase overtime. The property taxes and expenses are on the rise.
What should I do? I dont feel like my PM is helping me here...should I ask for their assistance? What specifically should I tell the PM? I think they simply forward my email stating that the increase was due to higher taxes and maintenance expenses.