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Updated almost 3 years ago,
What's a reasonable percentage to raise the rent?
We've taken over a property that my father-in-law owned, and he never raised the rent for the tenants. The home has now gone up quite a lot in value, but the tenants are still paying the same monthly amount. Their rent has been $1,625 for several years, while the Rent Zestimate is now $2,335. We'd like to raise it to $1900/month, which is about a 17% increase. Is this on track?