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Updated about 10 years ago,
Would you keep these tenants or raise the rent?
So last year I switched property managers on a property in a location that I am not that familiar with anymore. The current tenants pay $850, but the property manager thinks it would rent for $1050 when we get new renters in. They are urging me to let the current renters renew at $850 because they are clean, have actually added value to the property (paid for new garbage disposal among other things) and pay rent on time.
I am thinking an extra $2400/year is something I would be very interested in, but the mgmt company has been VERY good to me and I do trust them.
What would you do?