All Forum Posts by: Stan C.

Your are right, I'm not. How much would you increase if you were me? $20? 

Anyone please?  At least I'd like to know your opinion on my last question:

Is there currently a slight downturn in rentals in Jacksonville ?

Dear all,

This is my first rental, so relatively a newbie here. A duplex in Jacksonville in a C-class neighborhood. Rentals in that neighborhood average $450 - $630 for similar 2-bedrooms. When I purchased the property it was rented for $700 because it was completely renovated. This was 1.5 years ago.

At the end of tenants' first year I didn't increase their rent because my PM adviced against it since the rent was already higher (due to perfect house conditions). So, one tenants rotated with no rent increase (as per PMs advice). Second tenant stayed but got no increase.

Another investor that I know (who's properties are very close to mine and in similar great condition and were also rented for $700) raised 2 of their units to $750. But then those $750 tenants moved out and they had trouble ro re-rent it for that price for 2+ months (and are still vacant).

Since then my PM has changed and the new one is also advising against raising the rent. They said that right now their company experiences 3 times higher vacancy rate comparing to this past summer.

Also I have to add that one of my tenants is always late with rent but had always eventually paid (plus late fees). Both tenants take well care on the properties. Their 1-year leases are up at the end of December.

So, what about the rule to increase somewhat every year? Should I increase just $10? $20? Or nothing at all? If it's already higher than average in the area, should I increase? If I increase too much, will I loose the tenants, which considering my friend's experience plus what PM said about vacancies at the moment which would be a bad thing ?

Is there currently a slight downturn in rentals in Jacksonville ?

Thanks! 

Sharon H, 

Can you please give us an update on your experience with this tenant? 

I'm in a similar situation and not sure what to do. 

Thank you, Michael. Do you own properties in Jacksonville? If so, can you recommend good maintenance/repairs vendors that you've worked with, that are honest people and won't rip me off? 

 Thanks. I called them a month ago, they said they were not taking any new properties at that time. 

Anyone, please? 

Being an out of state investor, I need a good property management company in Jacksonville, Onslow County, NC. On the web, it seems like Sue Cruddas and Grifaldo Properties have decent reviews. 

Has anyone worked with either of those? Can you please share your experience? 

Or, maybe you can recommend another PM?

Any feedback is appreciated. 

Thanks. 

How has your experience with Grifaldo Properties been over the past 2 years?

My PM is ABA and they are really good. But for some reason they are canceling managing all properties in the area where my property is. So I'm looking for a great substitute... 

Can anyone please recommend a very good PM company in Jacksonville? 

Has anyone had any experience with Sue Cruddas management? 

@Jiri B., Thank you. I will try that.