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Updated almost 5 years ago on . Most recent reply

Duplex landlords: Charging diff. rates for similar properties
Duplex landlords,
I'm in a situation where I bought a duplex and one side has been rehabbed. This is a class C property and the interest has been great on the rehabbed side. However, I am realizing I may have over rehabbed for the area. I'd like to scale down the rehab for the second unit and charge roughly $90 less in rent. The totals would be $650 currently rehabbed side and $560 for the other that still needs work.
My specific question for your duplex+ landlords is have you come across any instances where you have a 2 different charges for rents for leases signed at relatively the same time? Issues meaning have you had to deal with one tenant complaining and causing issues that their rent is $90 higher? How have you dealt with this?
Most Popular Reply

@Mauricio Quintana
Valid question. I own 2 duplexes, and tenants at both locations pay different amounts. Yes, tenants do talk to each other, so you can probably guarantee they will at some point share what they pay in rent. Not much you can do about it, just focus on getting the place rented. When you do find a tenant, you can even explain to them when they sign the lease that you've discounted their rent by X dollars because it's not quite as finished as the other unit. Just drive that point home with them and that may help.