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Updated almost 3 years ago on . Most recent reply
Determining Rent Increase Amount
Is there any good resource on a fair rent increase for beach properties in the Santa Monica area? Any input into how best to determine that appreciated.
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Nathan Gesner
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Quote from @Alan Bosca:
Lol - thx. Yes, just trying to see if there is any % people like to bump up existing tenants.
If you increase rent every year, 3% is probably sufficient. If you get more than 10% behind market, then you have to be more aggressive to catch up.
- Nathan Gesner
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