Increase Tenant Rent

[Raymond Hill]

Hello BP Family,

I have a tenant who is a single woman that ever tired receiving a fixed income. She is currently paying well below market value for her unit , however her payments are on time every month. He's over the age of 60 years old , and I'm trying to figure out a way to increase her rent but keep the tenant. Does anyone know of any programs that I can have the tenant enroll in order to subsidize or pay a portion of the rent ?

[Nathan Gesner]

She could apply for Section 8. Bigger question: why do you feel obligated to help her afford something she currently can't?

You have a product worth $X. Find someone willing to pay it. Do you think Elon Musk gets a call from retired women asking how they can get subsidies to afford a Tesla? Of course not! He puts his product on the market for what he thinks it's worth and people can either pay that or they can buy a 2003 Ford Escape. I can assure you he doesn't lose sleep at night thinking about the poor people that can't afford his product.

Your job is Landlord, not social justice warrior. Let her know what the rental is worth, that you are a businessman that invests in real estate to build a future for yourself and your family, and that she needs to pay market rent or she'll have to move out. If you want to be nice, give her up to 90 days to find another place to live. Then clean it up and rent it for market rates.