Tenants ask for delay rent increase - Please advise.
I need your advise, what should I do. Yesterday I delivered a rent increasing note to my tenants. It is 7% increase. I gave them a 60days notice even the law only required 30 days. They ask me to extend the note to 90days as they are in difficult time now. Please advise what should I do? They said the wife is not working now as she needs to take care of her dad who is sick.
Most Popular Reply
If you're really 25% under market and they can't afford a 7% increase I think you're better off turning the unit over and finding a tenant who qualifies at market rent.