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Updated over 11 years ago,
Negotiate or find New Tenant?
Hello, I have a situation where I've been renting to 3 roommates for 2 years on one lease. I increase rent $25/ mo each lease renewal year in order to keep the good tenants. This year one person is moving away, so the other 2 decided to give me 30 days notice. Now, they've asked me to consider lowering the rent $75/ mo in exchange for them renewing the lease with the possibility that if they find a 3rd roommate, I can increase the rent back to the original rent + the increase in rent.
My question is: Would you consider negotiating or try to find a new tenant in hopes of getting higher rent. What things would you consider?
Thanks for your time!