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Updated over 1 year ago,

User Stats

281
Posts
128
Votes
Stephen Jones
  • Rental Property Investor
  • Illinois
128
Votes |
281
Posts

Back and forth on whether to raise rent

Stephen Jones
  • Rental Property Investor
  • Illinois
Posted

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. 

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