Raising rents every year

[Horacio Gutierrez]

If you raise the rent every year, do you always need to fix something small on the property to justify you raising the rent or every other year you dont have to improve something and just tell tenant raising rent for the cost of living or property taxes or insurance that went up. I guess what Im asking do you have to justify to tenants every year why you raise the rent and if so what reasons can you give tnem?

[Ken Musial]

I self-manage 5 units and I tend to focus on the market rates and less about making sure the rate goes up every year.  I realize that operating costs increase steadily, but unfortunately that rental market doesn't always follow.  If it does, great.  Raise rents accordingly.  As a landlord, my biggest expense is vacancy and communicating to tenants that your rate is going to go up every year regardless of what other units are charging is a great way to ensure they don't stay very long.