Good Tenant (Rent increase)

[Quentin Mitchell]

I just wanted to know people's opinion on this, if you have a good tenant but their rent is below market value, should you look to increase rent even if it could be pushing them out of the property from an affordability standpoint or just keep the current tenant.

[Eachan Fletcher]

Lots of great advice in this thread already.

The only thing I might add is combine an increase in rent with an improvement to the tenant's life.  For example, perhaps you're aware of some appliances that are near end of life or bathroom fittings that need replaced.  Stuff you actually want to do anyway and would eventually get around to regardless.

Then the story becomes we need to raise the rent because it's significantly behind market value, but hey we're also upgrading your x.

They may be a good tenant but you should also be a good landlord, and you deserve to be paid correctly for that.