Get Rich Ed. PC#136 - Rent Increases

[Metra Ulloa]

I was listening to this podcast today and found his idea for introducing rent increases to the renter innovative and wanted to get this communities thoughts (pros/cons) on the idea. He basically says instead of sending a letting notifying the renter of the intended rent increase, give the renter control of how much they want to pay by offering them 3 options to chose from: 1. Month to month lease - highest $ amount (i.e. $1,125/month) 2. Annual lease - desired $ amount (i.e. $1,100/month) 3. 2 year lease - lease desired amount (i.e. $1,075/month) I would think to only offer this to a renter after the first year lease (vetting that they are good renters). What are your thoughts on this strategy? Does anyone employ this strategy? What are the pros and cons? Thanks!