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Updated over 5 years ago on . Most recent reply

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18
Posts
2
Votes
Michael Neves
  • Rental Property Investor
  • Massachusetts
2
Votes |
18
Posts

What’s the percentage you can raise your rental?

Michael Neves
  • Rental Property Investor
  • Massachusetts
Posted

I’m trying to figure out how much I can raise the rent with out making the tenant run way.

Most Popular Reply

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2,465
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3,856
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Patricia Steiner
  • Real Estate Broker
  • Hyde Park Tampa, FL
3,856
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2,465
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Patricia Steiner
  • Real Estate Broker
  • Hyde Park Tampa, FL
Replied

Are we taking about your business or the tenant?  The tenant doesn't have any bearing on what you charge.  If you increase rent by $10, the tenant is going to balk ("you're raising the rent!!!").  What determines price is the market.  Do a quick google search of comparable properties in your rental market and compare pricing.  By knowing the rent and price demand in your market, you can set a competitive price, attract quality tenants, and not short-change yourself.  

You're running a business.  Tenants come and go.  Let your tenants know that the rent price will always be determined by market demand to ensure that it's a good value for both of you.

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