rent increase (by Sandra [ME]) Jun 2, 2008 3:29 PM
rent increase (by Robert,Ontario,Canada [ON]) Jun 2, 2008 4:56 PM
rent increase (by billy button [MA]) Jun 3, 2008 7:33 AM
rent increase (by Sandra [ME]) Posted on: Jun 2, 2008 3:29 PM Message:
State Specific Question About: MAINE (ME)
Yes, I was wondering when you want to increase the rent if there is a set limit that you have to use or can you raise it to whatever you want the new rent to be? --71.173.xx.xx |
rent increase (by Robert,Ontario,Canada [ON]) Posted on: Jun 2, 2008 4:56 PM Message:
There are two conditions which determine a rent increase limit. First if there is rent control then one can only raise the rent the limit set by government limit. Next there is the market rent. The rent of other competing units are charging for similiar rental units. If one gives a tenant a large rent increase then more then likely the tenant may move out. It is better to take a small rent increase every year then one large rent increase. Once the rent is higher then the market rent then one is going to have difficulty renting out units. One method to improve cash flow is to look what operating expenses can be reduced. Separting out utilities. Reducing water, natural gas, electrical consumption. --206.172.xx.xxx |
rent increase (by billy button [MA]) Posted on: Jun 3, 2008 7:33 AM Message:
i would try to get it at a bit below market.maybe raise 5% to 10% till its there.if u give a big raise they will probably leave.or if u charge more than comparable units they may very well leave.good luck.schumacher in "buy and hold" recommends this approach.he made about 15 million in california real estate.if it makes u feel any better. --208.58.x.xx |
Reply:
|
|