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Updated over 7 years ago,
Help determining rent increase
Hello, I have a rental in CA with current rent of $2,350 which I have not increased for 3yrs. I have good tenants, they are very helpful and takes good care of my house. For this reason, I decided not to raise my rent but since I have not raised the rent for 3yrs I feel that it's time to raise a little especially with many recent fixes. There is no cash flow in this property so anything additional is coming out of my pocket. There isn't a whole lot of rentals in this area but rents go from $2,300 to $2600 for comparable properties. Every year my tenants tells me they would leave due to kids school situation but staying put. I was thinking of raising $100 but hesitant to do so. Would $75 be more appropriate? Thank you,