Rent increase during covid-19 era

[Sami Gren]

Hi all.

I would like to know what your thoughts are about increasing rent for your tenants now during the covid-19 era,  would you increase the rent as you do every year? Or don't you?

thank you

[Matt Ziegler]

we sent all our folks a note stating that we would not raise rents during at this time. We extended the current lease with the same rate and terms until the first of the year. We felt like it sent a strong message of support to our long term tenants. 

With one unit that turned over(not covid related) we were able to remodel and increase the rental rate .

Hope that helps.