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Updated over 3 years ago,
Landlords - Should You Reconsider?
Could not raising rent because you want to be a liked or "good" landlord or you want to keep tenants be bad for your good tenants in the long run? How about collecting close to market and using some towards "bonus" upkeep and upgrades?
How could it be bad for your tenants? If you are collecting $1000 but market rent is $1500, because you have not raised rent to keep up with market, what happens when you go to sell? Will you sell below market? Will tenants face a rent hike or have to move when you sell?
Has it been 10 years since you pressure washed property and driveway? Are the toilets from 30 years ago when the house was built? Is the carpet worn and could really need a new one? Everyone likes stainless steel appliances, if yours are the white ones from 20+ years ago, how about changing the microwave or dishwasher or fridge or all 3 to stainless steel?
Tenants also like nice houses, how about keeping the property nicer than market and keep up with market rent or slightly lower? Thoughts?