Should I Increase Rent
2 BR / 1.5 Bath 1,100 sq ft renting for $2,750 in Seattle. Current tenants had a six month lease starting Jan 1 and now are month to month. They are in the city from Missouri and will be leaving either in Sept or Dec, they're not sure yet. The tenants have been great. They pay their rent on time every month and ask very little of me.
Rents are increasing so fast in Seattle that $2,750 was just above market rent in Jan but now I could get $3,000 easy for the place. When they went month to month I told them I might raise rent in Sept if they choose to stay. When they leave I will likely list it for $3,200 and see if I can get that.
There is something to be said for keeping good tenants. They are leaving for sure by the end of the year. Do I raise the rent to $3,000 in Sept or just keep it at $2,750 for their last three months.