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Updated over 11 years ago on . Most recent reply

Sam Leon's profile image
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Sam Leon
  • Investor
  • from Fort Lauderdale, Florida
  • Member since Nov 27, 2012
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Sam Leon's profile image
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Sam Leon
  • Investor
  • from Fort Lauderdale, Florida
  • Member since Nov 27, 2012
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Sam Leon
  • Investor
  • Fort Lauderdale, FL
462
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General Landlording & Rental Properties

How do you decide on rent for renewals?

Sam Leon
  • Investor
  • Fort Lauderdale, FL
Posted

Seems like rent has risen significantly. Properties nearby that used to rent for $1800 a month are now asking $2400. One is asking $2750. I don't know if they are actually getting that but that's what they are asking.

My current tenant pays $1700. I am up for renewal in 75 days on this property.

Trying to decide how much to raise the renewal rent.

This tenant has been relative trouble free.

Advice?

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Phillip Dwyer
  • Real Estate Agent
  • from Henderson, NV
  • Member since Aug 26, 2011
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Phillip Dwyer's profile image
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Phillip Dwyer
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  • from Henderson, NV
  • Member since Aug 26, 2011
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Phillip Dwyer
  • Real Estate Agent
  • Henderson, NV
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Phillip Dwyer
  • Real Estate Agent
  • Henderson, NV
Replied

Raise it a little, but stay under market. Both of you win.

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