Updated almost 6 years ago on . Most recent reply
Increase rent on first year renewal?
I have a SFH with a great renter. No drama, keeps to himself, takes care of the place. His first year renewal is coming up and I'm wondering if I should increase the rent or not. On one hand I don't mind swapping less $$ for the drama free renter, and on the other my expenses have gone up slightly and it would be great to help cover them, though not required.
Is it a forgone conclusion that rents typically go up year over year? What is ‘market’? 3%? Do all LLs always increase them?
I also thought about not raising this year but giving a heads up that I would next year...