Updated over 11 years ago on . Most recent reply
Raising rent
If I wanted to raise rent $200 per month to get price up to market level, is it best to do it in increments of $50 per month, or all at once?
Most Popular Reply
If your place can get an extra $200 more, then you should charge an extra $200. If they can't afford it, then they will move out. If they can afford it, they will research the market, see what they can get for that new price. If your place is really in-line with the market, they will stay. Moving sucks, it takes time and money. If as a renter, I can't get a better deal elsewhere, I will suck it up and pay my rent. Like Rob K said, they know when they are getting a deal, they know market rents. They have searched for places to live, compared locations and prices, so they know what's out there. Provide proper notice, raise the rents.