Updated almost 14 years ago on . Most recent reply
Raising Rent?
Ok so we are looking at a property where the current rent being charged is $325 per month. The going average for the area is $500-$550. Without using a property manager, purchase the property we would want to raise the rent to the average for the area. Can you tell me what the best processes you have found to be successful at this? Gradual increases? Instant increase?
Any help you can give would be greatly appreciated.
Thanks in advance!
Most Popular Reply
If you want to keep the current tenants, raise it gradually. If not, then raise it all at once and the tenant will almost certainly leave.
Mike