General Landlording & Rental Properties
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated over 10 years ago,
Do you raise the Rents? Resign a year lease?
My question has two parts.
I have a tenant that signed a year lease, last year. The end of the lease is coming up. They're a good tenant. Auto pay for rents and pretty quiet as far as tenants go.
Part A. Do I raise the rents when the lease is up? There's no rent control but I'm on the higher end of the spectrum. The rental market in southern California is bonkers. Theoretically I could raise the rents but I'd almost prefer to keep the rents the same and not get greedy for another year locked in ...
Part B. Wondering how to ask/get the tenant to sign another year lease. Do you simply state that's what you expect? Or offer it as an option? One option was to maybe "not" raise the rents if she signs a year lease, then raise the rents slightly if they don't.
Any thoughts would be greatly appreciated.