How much to increase rent on lease renewal

Question

So I have tenants in my property that are complete PITA's. They pay on time but they nit pick and complain about absolutely everything! I have a PM. They are currently on a year lease which expires in June 2019. I would rather let the property sit vacant.

It used to be my primary residence and it is was built in 2001 (I am the original owner) and it has an inground pool, outdoor built in grill, shed, huge deck, etc. house is over 3500 sq ft. Rent is $2400 mo (negotiated down from $2600).

I do not plan on renewing their lease when the time comes, so if they indicate they want to renew I plan on making the rent so high that they won't want to renew. I can handle not having a tenant rather than deal with the nonsense.

They moved in in April and since then I have:

Paid for pool opening $700

Replaced a side garage entry door $400

Replaced an electrical outlet on the outdoor kitchen $150

Replaced a sink sprayer $150

Plumber out to fix clogged sink $160

Closet shelf repaired $75

They complained that the pool sand filter was bad (it's virtually new) pool guy is sick of them they don't know what they are doing with the pool. He basically comes out for free because of my years of doing business with him.

Couldn't figure out how to work the light timer for the deck lights (had them purchase bulbs and replace them) smh

Supposedly there was a leak in the bathroom coming in from the roof, (no problem the roof was original, it was due) new roof $7400

A/C upstairs (dual zone) went out, repaired at $875

PM called me to say that the tenants sais the oven takes 45 minute to heat to 450 degrees and the convection feature hasn't worked since they moved in. This is absolutely BS because I am a cook and I used the stove religiously and it is only 4 years old! So pissed.

At this point I have relayed to my PM that I want to let them out of their lease. If that doesn't work and I have to wait until their lease is done, I plan on raising the rent significantly enough for them to not want to stay.

(sorry for the long post) venting a little

Was trying to post pics but they keep coming in upside down...

Jeremy Marek · Answer

Do anything but what @Ray Harrell said... why piss them off? so they can destroy the place before they leave? Like others have said, if you do not want to rent to them again, it is within your right to deny them a renewal. If you don't want the conversation to be awkward, you can just tell them you want to do more repairs and want the place vacant, or better yet have your PM do it, since that is what your paying for

Nathan Gesner · Answer

Renewal is still a year away so it's a waste of time to even discuss.You know what my concern is? They've lived there less than three months and you've already had to replace the leaking roof, a bad sink sprayer, a bad outlet, a broken door, and a closet shelf. You had a clogged sink. You - or your PM - failed to ensure all the lights were working. The A/C was actually broken and required repair.I think you've given them a house that was not in good shape. It's not their fault the lights are burned out or roofs are leaking.I think your expectations should have been higher when prepping the house for a new tenant.

Walt Dockery · Answer

I don't understand if they moved in April and have a 12 mo lease why is it up June of 2019? If lease isn't up for a year why are you discussing whether to renew the lease now?Why are you renting out this house? If you have a PM, why are you asking questions like how to give notice here (your PM should handle that)? If the roof was at the end of its useful life why not be proactive and have stuff like that addressed before renting it out?Have you considered selling the house when lease is up? Your post sounds to me a lot like an 'accidental landlord' situation.

Dick Rosen · Answer

You don't have to renew a lease but you do need to give proper notice that you aren't going to renew. And don't let the next one negotiate you down.

Tony Mai · Answer

As a landlord you are responsible for the maintenance and repair. For now I would just fix whatever they asked because it’s your house and if you don’t like them then don’t renew that’s your right. Until then just be kind and profession. There’s no need to get nasty. When renew comes let them know you will not be renewing their lease. End of story and hopefully your unit is in good shape to have a quick turn over. And screen the next tenet more stringently.

Ray Harrell · Answer

@Jeremy Marek, I would hope they wouldn't say that. I was being facetious. The point is, the owner shouldn't feel obligated to renew the lease no matter what the situation. No excuse needed.

Dennis M. · Answer

Maybe I don’t understand but I would just keep the rent at the fair market price at renewal . But I also would simply give them a notice ( 60 days prior to lease ending !) you are not renewing with them . I would not artificially jack the price up of the rent to disuade them from renewal . That isn’t necessary at all . Look If you don’t want these tenants calling you every day over stupid crap there is no special reason explanation or justifiable excuse that is needed to give these folks . You owe them no explanation whatsoever .Simply say I’m not renewing our lease agreement once it expires . It is your right to do .

Dennis M. · Answer

Just Raise it up to the fair market rate . No more no less

Patrick M. · Answer

Account Closed - Understood. If you are already inserting yourself into the equation then simply speak with your local hardware store or landlords about a trusted handyman.You are already doing everything anyway- except you are making it messy by having a property manager.

Account Closed · Answer

@Patrick M., the PM has to go through me for any repairs on the house. Because I am out of town I cannot effectively manage the property myself. I do have family in the area, however I don't want to involve them and make a worse situation.