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Updated over 1 year ago,
Back and forth on whether to raise rent
BP,
I am struggling on whether or not I should raise rents on about 20-25 units out of my portfolio. Where I'm located (southern state of IL) rents have kind of tapered a bit, and I realize how tough it is out there right now for people, but on the other hand out of these 20 units or so, according to the market, these rents are ready to be bumped. Another reason I am hesitating is because the majority of these tenants are good quality tenants. I'm torn on what to do. Do I raise them now? Do I wait until next year (I believe things will be worse), do I raise them slightly 25-35$? Any advice would be appreciated! Thanks.