Rent Increase 2023??

[Austin Cook]

I am going into my first lease renewal and wondering how many are increasing rent from 2022-2023? 

I’m not expecting the tenant to stay more than 2-3 years. Since it was a remodel right before they did have to deal with some issues at the beginning so I have decided to stay at current rates.

[Nathan Gesner]

From what I've read, rent rates in Nashville have increased by more than 10% in the last year. You could increase your tenant 5% and they would still be below average.

Better yet, don't listen to statistics and averages. Study your market and really understand the value of your specific property, then charge what it's worth. 

If you feel these tenants were burned by the early hiccups, let them move out and start fresh with someone else that won't experience the hiccups and is willing to pay market rate.