 Raising the rent (by Ken [OR]) Apr 1, 2009 8:55 AM
 Raising the rent (by sid [MO]) Apr 1, 2009 10:37 AM
Raising the rent (by Virden [OH]) Apr 1, 2009 12:44 PM
Raising the rent (by A.R. [ID]) Apr 1, 2009 7:27 PM
Raising the rent (by Martin [MO]) Apr 1, 2009 8:05 PM
Raising the rent (by Howard [WY]) Apr 2, 2009 6:05 AM
Raising the rent (by Ken [OR]) Posted on: Apr 1, 2009 8:55 AM
Message:
State Specific Question About: OREGON (OR)
I have a long term rental with a retired couple. I've raised the rent twice since they moved in in 2002. It started at $735/mo . Last year it was $790. I'd like to raise the rent on the unit which is a 2-bdroom , 2-bath unit w/frpl.Nice area. I 'd like to raise it $20-$30. I'm afraid to raise it because I think they might move. What's the rule of thumb on this.Thanks. --71.193.xxx.xxx |
Raising the rent (by sid [MO]) Posted on: Apr 1, 2009 10:37 AM
Message:
Shop your competition. I'd "LIKE" to raise my rents from $450 to $550, but my market analysis says tenants will move in a heartbeat to the next rent house down the street.
You cannot be more than about 5% above what the next guy charges or an intelligent tenant will leave. If you have unintelligent tenants...that could be a blessing or a curse. --204.80.xxx.xx |
Raising the rent (by Virden [OH]) Posted on: Apr 1, 2009 12:44 PM
Message:
If you like what you have advise them that you wanted to make an improvement but it would require a rent increase, this opens the discussion and you can decide to improve-a new ceiling fan-dishwasher-think of something that is one of those nagging things, and ask them how they feel about having convenience or just staying at the same place on the rent table, 6-7 years and you have a good tenant, you should try to please them and after you have this discussion you will know what they would like to do. --99.147.xx.xxx |
Raising the rent (by A.R. [ID]) Posted on: Apr 1, 2009 7:27 PM
Message:
Why chance it and have them move? I do not think that people need much excuse to move on and buy right now. If they are good tenants and considering the economy it seems worth leaving this situation alone for now. --207.200.xxx.xx |
Raising the rent (by Martin [MO]) Posted on: Apr 1, 2009 8:05 PM
Message:
Check what is the market rent, and keep it a little below that if you want to minimize their need to look elsewhere.
Give them plenty i.e. 60 days notice of the increase to give them time to get over the initial anger/shock/etc and time to look around if they want to price shop rather than react immediately and give notice.
--64.151.xx.xxx |
Raising the rent (by Howard [WY]) Posted on: Apr 2, 2009 6:05 AM
Message:
If you are running a charity keep their rent the same.
If you are running a business you should be charging the going rate for your area no matter how long the tenant has been there.
If the tenant moves over a $30 rental increase there are probably some other problems going on.
My tenants rarely get more than 30 days notice of a rental increase.
I've only had one tenant move out over a rental increase in nearly 20 years.
(It is nice to live in a place with a good rental market) --72.174.xxx.xxx |
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