 Rent increases (by 2nice [OR]) Dec 30, 2008 10:46 PM
 Rent increases (by Natalie [CA]) Dec 30, 2008 11:09 PM
Rent increases (by John [OR]) Dec 31, 2008 6:06 AM
Rent increases (by billy [MA]) Dec 31, 2008 7:35 AM
Rent increases (by 2nice [OR]) Posted on: Dec 30, 2008 10:46 PM
Message:
State Specific Question About: OREGON (OR)
Are there any limits to how much rent can be increased on a month-to-month tenant? We have great tenants who have been in one of our units for a little over 2 years, & were they to move out, we could now be asking for 25% more in rent than they are currently paying! Rents have gone up substantially in this market and we would like to keep up with the market rates... Any advice would be appreciated. --97.115.xxx.xxx |
Rent increases (by Natalie [CA]) Posted on: Dec 30, 2008 11:09 PM
Message:
There is usually no limit unless you're in rent controlled area which I assume you're not.
One thing to keep in mind is that if you're that much under market and you attempt to raise rent close to market your current tenants will most likely move. 25% is huge rent increase and in a situation like that if you want your units close to market you will most likely lose your tenants. --67.188.x.xxx |
Rent increases (by John [OR]) Posted on: Dec 31, 2008 6:06 AM
Message:
Oregon has no rent controlled areas. You might consider doing two rent hikes though this year. One for 10% and the balance in 6 months.
Tenants never quite understand that they set rents.
Some owners believe that "rewarding" good tenants means keeping rents below market. That impacts your asset value and your ability to provide servie to the property. Your tenant will not appreciate a delay in capital improvements but may not see the connection between the rent and the ability to maintain the property.
Hopefully, you haven't skipped the rent hike that should have happened in 2008. A skipped rent hike creates more problems than it solves most of the time. --76.115.x.xx |
Rent increases (by billy [MA]) Posted on: Dec 31, 2008 7:35 AM
Message:
rent hikes are something i do in warmer months.hard to move a vacancy in winter and they could leave.if u can afford it u could try to stay a little under market.25% is a large increase.i would be tempted to take a smaller bite.and then maybe bite them again in a year. --208.58.x.xx |
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