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Updated about 3 years ago,
Rent price increase question.
Rent price increase question. I currently own a duplex with both sides rented. The A-side is renting for 1050 a month and the B side for 1350. The first tenant was there when I lived in the property in 2019. I kept the rent low for an additional year because they were good tenants who paid the whole time through 2020 and have only been late twice and paid quickly. The lease is almost up and the PM thinks we can get 1300 for it. I have mixed feelings about raising the rent by 250 on someone especially when inflation is hurting blue-collar people more than any other. I am currently cash-flowing 810 a month and I would feel greedy raising it by 250. They are good tenants and I think that deserves to be rewarded. What are your thoughts?