Long-term lease rent reduction
A tenant of mine expressed her desire to sign a 5-year rental agreement/renewal. She has been a good tenant for a year. She is also asking for the rent to be reduced.
Is there a guide on how much the rent should be reduced? What is a fair amount in terms of percentage?
Is there any good strategy on how to approach this?
The current house is rented for $1,600 per month. I am paying a gardener $50 per month to take care of the lawn.
Any advice is very much appreciated.
Thanks.