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Updated 12 months ago on . Most recent reply
Should I decrease the rent?
My father rented a 6 bedroom, 3 bath home to 10 people before he passed away last year for 3,100/month. Now that the lease is expiring soon ,the tenants are asking for a rent decrease because five people will move out. The tenants are good so far and have been living there since 2022. The tenants are on a fixed income and were getting help from the other five family members for the 3,100 rent. The market rate seems to be at or more than 3,100. Should i call a property manager?
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If there are 10 adults living in a house, they should be able to afford the rent. Even if 5 move out, then they don't need a 6 bedroom house-if the 5 that remain can't afford the rent, then they should move to a smaller place.