 rent increase? (by Rachsuze [NC]) Feb 4, 2011 7:13 AM
 rent increase? (by Bill [TX]) Feb 4, 2011 7:26 AM
rent increase? (by Reiid [KS]) Feb 4, 2011 7:31 AM
rent increase? (by tyler [NC]) Feb 4, 2011 7:46 AM
rent increase? (by Anon [PA]) Feb 4, 2011 9:06 AM
rent increase? (by Wendy [NC]) Feb 4, 2011 12:31 PM
rent increase? (by 574-Brad [IN]) Feb 4, 2011 5:29 PM
rent increase? (by Ponari [TX]) Feb 5, 2011 6:48 PM
rent increase? (by Rachsuze [NC]) Posted on: Feb 4, 2011 7:13 AM
Message:
I am a residential landlord with four properties, several of them multi family. I have kept current rents the same and have even done a few small decreases to keep my good reliable tenants in place. Now I feel its time to raise my rents slightly. I have told my tenants if they sign another 12-24 month lease I'll lock in their current rent. BUT if they want to stay month to month, my husband thinks the rent should increase slighty...Suggestions on what percentage to increase, etc?
State Specific Question About: NORTH CAROLINA (NC)
--71.75.xx.xxx |
rent increase? (by Bill [TX]) Posted on: Feb 4, 2011 7:26 AM
Message:
Depends,
How far below market you are
and
expect large increase to result in people moving.
Recently, I try to keep increases for existing tenants to 5% or less - usually closer to 3%.
Bill [TX]
--71.158.xxx.xxx |
rent increase? (by Reiid [KS]) Posted on: Feb 4, 2011 7:31 AM
Message:
Increase to stay inline with your local market you don't want to make it worth their while to leave , --99.151.xx.xx |
rent increase? (by tyler [NC]) Posted on: Feb 4, 2011 7:46 AM
Message:
we sent out about 350 rent increases 12/30.... via the pm side. has probably caused 4 moves, and we saved @15 via rescinding the increase after talking.... the remainder to date are paying the 10-25 dollar increase that started 2/1. better odds than i expected; although, we need another 90 days to truely gauge impact. --70.60.xxx.xxx |
rent increase? (by Anon [PA]) Posted on: Feb 4, 2011 9:06 AM
Message:
I increased the rent by 2% and the five year good tenant moved out in two months. Hindsight it was a mistake. I may never know whether the move out was because of the raise or just coincidence. In the process of finding another tenant I lost the rent for a month and half and have to lower the rent by 5% from the original. I decided to keep the rent for the other tenants stay put even though my expenses are raising. Can't afford vacancy in this tough market. --128.91.xxx.xxx |
rent increase? (by Wendy [NC]) Posted on: Feb 4, 2011 12:31 PM
Message:
Our rents are set to cover our expenses as much as possible already - so I'm not chancing having good tenants look elsewhere for $10!!! In fact, I am offering incentives for them to stay. We are putting laminate flooring (on sale at CostCo this month!) in three houses that were going to need it anyway - now we don't have to wait until the place is empty. I am offering a new through-window heat pump to a place with baseboard heat (people hate baseboard heat down here...) In other words, improving the property while they are there.
I asked several tenants for a wish list and one said, "I'd love a new screen door!" FINE WITH ME! Hers is old and creaky, I'll through a new door on (less than $100) if it keeps a good tenant. --173.16.xx.xxx |
rent increase? (by 574-Brad [IN]) Posted on: Feb 4, 2011 5:29 PM
Message:
Bill asked you good questions. Do you have any answers? --66.228.xxx.xx |
rent increase? (by Ponari [TX]) Posted on: Feb 5, 2011 6:48 PM
Message:
For good tenants (which is all of them) I offer:
$25 increase for 1yr lease
$50 increase for 6mos. lease
$100 increase for month to month.
If they want to stay for 2 years I keep them where they are, which is in line with their neghborhoods.
--71.96.xxx.xx |
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