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Updated about 5 years ago on . Most recent reply

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Ed B.
  • Real Estate Investor
  • Sacramento, CA
102
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287
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I just "ruined" my tenant's Christmas (unintentionally)

Ed B.
  • Real Estate Investor
  • Sacramento, CA
Posted

Following what I thought was usual procedure for instituting yearly rent increases , I just sent a tenant a rent increase notice to be effective January 1st. Bumped rent about 10%, or $130.

It wasn't more than two days when she called me, yelling on the phone, quite upset that my actions were now going  to deprive her  of being able to provide "Christmas" for her family, yada, yada, yada.   I empathized with her, and certainly don't want to  be like a grinch, but made me realize maybe my timing was bad. Maybe I should have waited until February or March to raise rent, or do it in November instead?  Has anyone else encountered this?  

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John Underwood
Pro Member
#1 Short-Term & Vacation Rental Discussions Contributor
  • Investor
  • Greer, SC
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John Underwood
Pro Member
#1 Short-Term & Vacation Rental Discussions Contributor
  • Investor
  • Greer, SC
Replied

I think October or February would be better. Also 10% is a big jump. I would limit it to 3% - 5%.

  • John Underwood
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