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Updated over 17 years ago,
Just bought my first property - question about raising rents
Bought a brand new 3br, 2.75ba house for $197,500. I'm going to rent it at $1300/mo to start [already have tenants moving in the day after I close on 06/08.] Does everyone typically 'build in' rate increases into the lease? I'm working on all my rental docs, and wondering if I need to include a standard increase of x%/yr, or if tenants are averse to this kind of arrangement.
Thanks,