Rental increase in Palm Springs for long term renters

[Swaga Deb]

Hello All,

I have a long term rental in Palm Springs with amazing tenants who have been there for 2 years. It's time to raise the rent but I'm having a hard time finding out how much I can raise it? Do you know and are there any city or county web resources you can recommend? I keep looking online and finding a million different answers. (I've also  called the city of Palm Springs city government and left messages with their housing department)

Wondering if anyone has some info on this topic. Thanks.

SD

[Michael Smythe]

Check Craigslist, Zillow, Rent-o-Meter, etc.

We’ve found the best way to raise rent is:

• Determine market rent
• Share the proof with the tenant
• Tell the tenant, given your rent is $x and market rent is $y, what do you think if a fair increase?
• Often, they may volunteer a higher amount than you were hoping for.
• Those that respond “$0” or something ridiculous, you can request income documentation from them to justify.
• Don’t be afraid to share with them how much your property taxes & Insurance increased and that YOU cannot afford to absorb them.

ALWAYS get an increase or something of value annually or tenants will start thinking they should never have an increase, making future increases that much more difficult to negotiate.