Updated over 4 years ago on . Most recent reply
Increasing Rent in Phoenix
I currently have two Single family detached. The Current Market rate is $2,200/month for both homes.
Property A: Tenant has been there for two years. We rented home at top of market for $1700/month. (We didn't increase rent during 2020)
Property B: Tenant has been there for one year. We rented at top of market for $1,950/month
Both properties are now on a month-to-month contract.
with the real estate market going crazy in the Phx area we haven't been keeping up with rent increases.
- Thoughts on how to increase the rent to a place that is closer to market value?