awkward... first lease signing of my career.
So I inherited a tenant who has been there since 2009... I think he used that to try and reason with me on stuff. He is also paying 150 dollars below market rent..... So we had to address that and that there will be a rent raise come May. That made him push back a little as to what it should be raised to..but we met in the middle...
He is a very clean and respectable tenant who has a great history. His unit is spotless. And we seem to get along just fine. I didn't want to chase him off because why loose a good tenant? So I raised it from 575 to 675 which kept him 75 bucks below market rent which I think for now is fair.. I explained that in August, rent will increase again but you will be given notification. He is month to month...
I never had to sign a lease with a tenant and I was nervous about being so demanding because he has been there for 7 years and is a great tenant... My lease is thorough which is good but it made me uncomfortable to come in a turn his world around because the last landlord was very lenient and kind of ready to retire and quit being a landlord...
The tenant also hasn't had anyone living in the lower unit for 2 years... So I think he feels like the place is his but I guess this is where i have to become strong and stand by the lease if something pops up...
I just hope I played my cards right...
Landlording here I come.... lol