Raising Rent for SFR in SoCal

[Jen H.]

Hello everyone! I am looking into raising rent for our single family rentals in Southern California. I have not raised rent in 2 years. I have never raised rent before so want to make sure I send the appropriate paperwork etc. From my understanding I need to send a 60 day notice before I can raise rent? Is that still the case? I'm thinking of increasing it by $50/month. A realtor mentor told me to do only $25. They are great tenants but the current rental rate is grossly below market rates. Thank you!c

[Will Barnard]

The notice timeframe depends on how long each tenant has lived there, if less than 1 year, it is 30 days abdvths is assuming the lease is currently month to month, otherwise you need to wait until the current lease term is up.

As for the amount to raise it, you are running a business here, not a charity, if thevunits support $50, raise it $50. That stated, if you have a tenant or two that you love and do not want to lose them, perhaps a smallervincrement would be in order - that would have to be your call, not the agents.