Raising rent question

[Dustin Trimble]

Question for active landlords doing God’s work out there!

Current tenants are on a month to month for a 2bd/1bth duplex unit. Tenants signed a 6month lease with a verbal understanding that a 20’x10’ covered deck (lanai) would be built and washer and dryer option added.  Fast forward 8 months and all stated work is completed and permits signed off by C&C.  

NOTE:  washer and dryer Hookups were provided only.  Tenants  were verbal notified  washer and dryer will not be provided by landlord at month 7 when asked.

Current rent is $2,000 (utilities not included).  My initial thought was 30 day notice of rent going up $300 now all work is complete.

Would appreciate any peer landlords opinions that have experience on raising rent?

Mahalo for your time!

[Dustin Trimble]

Aloha all,

Two things I want to say.

1) A huge thank you for your input.  We don’t use the forums enough when we are faced with tough decisions in our landlord and real estate ventures.  Again thank you all for your inputs!

2). What action was taken:                                 We submitted the 30 day notice for a raise in rent of $200.00 due to the upgrades.  This was discussed verbally prior to lease, but the amount was not. 

The outcome was that the tenants agreed to the raise in rent price of the notice.  

All input was valuable in our decision moving forward. @Kenneth Garrett, @Kevin Sobilo and @Nathan Gesner yours details really helped put the correct number out there.

Mahalo,

Dustin Trimble