Rent increase or Not. Which is the smarter decision?

[Rhea Jackson]

As an investor, after you reached your 1st year owning your rental properties, did any of you keep your rent the same, or increase it? What's the smartest decision, why or why not? Thanks for your time, Rhea

[Steve Potash]

I've rented to over 1,000 tenants, and I tell all of them the same thing when they're signing the lease... If you're a good tenant, I'll never raise the rent no matter how long you rent from me.   If you can get a good tenant that pays on time and takes care of your place.. for me, that's worth more than getting 2-3% more from an average or below average tenant.  Plus, good tenants usually have friends that are also good tenants and I get a lot of tenants through word of mouth.  I might be making a little less on rent, but I'm saving a lot more on repairs/damages and vacancy/re-renting costs.  Once a tenant moves out, I'll increase the rent to market rent for the next tenant.