INSANITY! But That IS The Market

[John Thedford]

Sent a tenant a notice of rent increase at the end of their lease if they want to renew. They texted yesterday saying they are moving. They have been excellent. I was increasing to $1475. Since their message, I posted it for $1625. Over 85 inquiries yesterday alone. So, I raised it to $1800 and my phone is still blowing up. I want long term people so I hesitate to continue the raise. At some point things HAVE to change. I truly am amazed at the number of people willing to pay these prices for a small <1300 sf house in the Cape Coral area. Markets dictate price.