When to increase rent on tenants?
Hey fellow landlords, I have a mobile home that I currently rent out for $700 per month on a 1 year lease. I was wondering how often do you increase rent, and what % do you usually increase it by. I've owned this rental for almost three years and haven't upped the rent. Thanks for any advice!
Austin
Most Popular Reply
That's a great question I would like to know as well Austin! I have a couple of SFRs and have increased rents only 3x in 5years by an average of 7%. The appreciation of those properties have grown however I'm unsure on what would be a sufficient amount and how often. Hopefully, some more experienced landlords chime in on this discussions.