Macro Economy: Rental Increase, Is now a bad time to go up?

[Benson Davis]

My current tenant’s lease is coming to an end, and I’m trying to determine how much weight the current economic climate (i.e. inflation, job outlook) should have when deciding on a rent increase. We're currently $300 below the median rent in the area and I want to get closer to market rates. Does anyone look at the economic environment, or is the focus primarily on aligning with local market trends?

[Eric Gerakos]

I keep my rents near market rates and never negotiate the rent or offer discounts as I only buy in desirable vs affordable areas. Just determine market rate for your property and keep rent near that.