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Updated 3 months ago,

User Stats

10
Posts
13
Votes
Tasha Smith
  • Rental Property Investor
  • Champaign, IL
13
Votes |
10
Posts

Raising Rent - Different monthly rates for inherited duplex tenants

Tasha Smith
  • Rental Property Investor
  • Champaign, IL
Posted

Hi All, We plan to present the binder method to our inherited duplex tenants. Each unit currently pays the same amount ($1350). Question is if we have a conversation with each tenant about what they feel is a fair rent and one says $1375 and the other says $1400, and $1400 is our target - should we accept separate rent amounts? We do want to offer flexibility, our goal is to keep the tenants so if increasing only $25 a month the first year keeps them we are open to it. I believe they likely will talk, they share a back deck and am concerned the different rates may negatively impact the relationship if that scenario played out. Thanks in advance for any advice!

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