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Updated almost 10 years ago on . Most recent reply

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14
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2
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Laura L.
  • Portland, Oregon
2
Votes |
14
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Raising rent in Seattle

Laura L.
  • Portland, Oregon
Posted

Have a tenant on 15 month least that is expiring in Sept. They likely want to stay. Makes sense, as they are paying $1,575 in a nice area of Seattle, on the rapid bus line, secured bldg, W/D/ GD, DW, Stainless/Granite, WSG paid, 10 minutes from downtown, in a fully updated unit with storage locker and two off street parking spaces. Rents went up in the area IMMEDIATELY after they signed a 15 month lease. We are now 5.5 months out from the lease expiring, and I need to raise the rent. 

Rents in the area for similar units are going for 1,750 to 1,850 now, and this is the off season. That's $275 max difference. 

This seems like a drastic amount to raise rent. But, based on the area, I know there will be other tenants who will pay this, and I do need to let the current tenants know rent is being raised. 

Question: How do I go about letting them know this, in a legal and appropriate way? I already emailed them in February and said that we needed to talk about changes that were coming in September. We have not had the conversation yet, but need to this month. 

Sorry for the stupid question, but this is the first time I have had to raise rents like this. 

Most Popular Reply

User Stats

180
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76
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Roger Vi
  • Investor
  • Everett, WA
76
Votes |
180
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Roger Vi
  • Investor
  • Everett, WA
Replied

Just had to go through a similar process...

My advice is to not have a face to face. Do it in writing. There is no good way to tell someone their rent is going up, all they will hear is "I am now going to take this many more dollars from you every month because I'm greedy."

Type it on a piece of paper. Let them read it and get mad at a piece of paper for a minute. Some tenants might call you and complain, but I would guess 9/10 would think about complaining and then realize that their dollar is no different than the next persons dollar so they better make their landlord happy or find a new place to live.

I just had to do this for 4 units. They had been paying under market for years. 3 understood and had no problem. One said they would move out and find a cheaper place to live. 3 weeks later they realized they still had the best deal in town and signed 6 more months at new rents.

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