Question to commercial property managers/landlords!

[Martin Z.]

What's best way to bring up a rent increase? Do you just send out a letter , or make a phone call and surprise them? I have a tenant paying way below market rate, i want them paying a bit more or vacating. Tenant pays on time, etc, etc...so I don't want to come off as some "greedy landlord"

[Scott Sewell]

Hi Martin,

I don't know what the "best" way is but, we prefer to do it formally (in writing) with a note in a sealed envelope attached to the door. The last time we did this, the tenant gave his notice, looked around at other units for a while and decided to stay. The reality is, to some extent or other, you'll always be the "greedy landlord". Might as well get used to it.