To Raise the Rent or not to Raise the Rent
Wanted to get the opinion of other folks on here. I have a property that I have a long term tenant in. It is an older couple and they have been there almost 10 years. I have only raised rent one time in the 10 years and that was about a year ago. It is a little (less than 900 sq ft) 3 bedroom house. Market rent should be about 100 to 150 higher than it is now.
Should I raise the rent maybe 50 dollars or should I leave it alone. I don't want to raise rents and then they move out and then I get someone else who doesn't pay right. They have never missed a payment and have only been late one time in 10 years and they called that time about a week in advance and let me know.
They take very good care of the property and actually fix things themselves when they break and only call me if its a major problem.
Any opinions on what I should do?