 Rent increase (by Landlord [CT]) Feb 21, 2012 12:57 PM
 Rent increase (by ctlandlord [CT]) Feb 21, 2012 1:07 PM
Rent increase (by Wendy [NC]) Feb 21, 2012 1:52 PM
Rent increase (by Gwen [OH]) Feb 21, 2012 4:22 PM
Rent increase (by Landlord [CT]) Feb 22, 2012 1:47 AM
Rent increase (by cs [NY]) Feb 27, 2012 7:32 AM
Rent increase (by Landlord [CT]) Posted on: Feb 21, 2012 12:57 PM
Message:
State Specific Question About: CONNECTICUT (CT)
I asked my neighbor what he charges his tenants for rent because they just moved in their condo. He told me he charges 1100 per month.
Ive been charging my tenants 900 per month and we have identical units. I think I have to send a new revised lease with rent increased after the current lease expires. If they wanna stay they gotta pay.
Im done being nice to people and cutting people breaks.
Ive also noticed alot of people are charging more for rental property now because of everyone defaulting on their home loans. Many more people would rahr rent because there is no taxes or maintenance. Very limited responsibility being a tenant. --76.24.xxx.xxx |
Rent increase (by ctlandlord [CT]) Posted on: Feb 21, 2012 1:07 PM
Message:
you have to make money for sure--- but I would rather have 50 bucks less a month and no vacancy no calls no headache. if your rent is 1000 a month and it is vacant one month a year your rent is really 910 month. vacancy= lost money never to be seen again, --99.20.xx.xxx |
Rent increase (by Wendy [NC]) Posted on: Feb 21, 2012 1:52 PM
Message:
Ctlandlord, that IS true but it is exactly that fear (of losing someone) that keeps us from EVER increasing the rent on good tenants.
$200 a month is $3000 a year lost revenue, is another way to look at it. And if you have tenants stay long-term because your place is $200 cheaper per month, over time you've lost a lot more...
So the incremental increase, as Jeffrey says, is the way to go. Small increase on good tenants, just to keep bumping it up...
I admit I do not follow this advice all the time. If I am already getting almost top dollar then I don't rock the boat! But for $200, I'd do something for sure. --173.25.x.xxx |
Rent increase (by Gwen [OH]) Posted on: Feb 21, 2012 4:22 PM
Message:
Make sure that other LL really is getting what he says. He may be inflating the amount to impress you. You may be better off in the long run. No vacancy now and if they start looking they quickly see they are way below market rate. --174.130.xxx.xx |
Rent increase (by Landlord [CT]) Posted on: Feb 22, 2012 1:47 AM
Message:
I undestand what you guys mean when you say "good paying tenants" ,However, Im losing almost 500$ a month by renting this place because the property is underwater with a high interest rate! Therefore I feel it needs to be increased to limit my losses.I gave these people a break when they entered.ow if they wanna stay,they gotta pay! --76.24.xxx.xxx |
Rent increase (by cs [NY]) Posted on: Feb 27, 2012 7:32 AM
Message:
Remember that your costs have nothing to do with the price the market will bear. Think of how much in the hole you will be if they decide to move out and it takes you 2 months to find a tenant. Or if you find one that is not as reliable and breaks the lease early. Or you find next door neighbor was lucky and you end up having to rent at your old rate just to get another tenant and are now out turnover costs. Just saying. --24.105.xxx.xx |
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