What are valid reasons to increase rent on tenants
I have a tenant who is currently paying $650 for a 2 bedroom 1 bath. Their lease is up in April. I noticed their fridge is a bit old and rusted. Would a good bargaining tool to lock them in for another 12 months and increase their rent at the same time by purchasing a ($300-$400) fridge. Increasing their rent by $25-$29 would have that fridge paid back in 12 months. Is this a good bargaining strategy with increasing rent.
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I’ve found most tenants will decide to either stay or leave regardless of a (modest) rent increase or not. $25 or $35 isn’t going to make their decision one way or the other.
Same with an upgrade like a fridge. I probably wouldn’t bother unless they’ve asked about it and you’re increasing the rent extra. Many tenants might even say ‘I’ll keep the fridge and keep the rent as-is’, which isn’t what you wanted.