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Updated over 3 years ago on . Most recent reply

User Stats

120
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26
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Ramki D.
  • New to Real Estate
26
Votes |
120
Posts

How much rent can i increase for next lease renewal - CA- SAC

Ramki D.
  • New to Real Estate
Posted

Hello Landlords,
I am planning to manage this rental from next lease renewal (3rd renewal, starts from March 1st, 2022 - Feb 28th, 2023) onwards. Current rent is 2180$ (tenant pays all utilities approx ~150-200$). This is a brand new 2020 home, 1932sq.ft, 4 bed (down stairs bed room with full bath) and 3 bath.
1st Year - 2020, March, 1st - 2150$
2nd Year - 2021, March, 1st - 2130$ (decreased 20$ due to pandemic)
3rd Year -2022, March, 1st - How much rent I can reasonably increase? all the homes in this area are listed for 2800$ + utilities (I have used online rent estimate tools like Avail,Rent-O-Meter, Zillow)

I am planning to increase 150$ per month which brings monthly rent to 2280$. $150 is too low or too high? any thoughts or suggestions really help me.

Thanks in Advance - RK

Most Popular Reply

User Stats

1,578
Posts
741
Votes
Mark Pedroza
  • Real Estate Agent
  • Sacramento/Placer ~ San Francisco Bay Area counties
741
Votes |
1,578
Posts
Mark Pedroza
  • Real Estate Agent
  • Sacramento/Placer ~ San Francisco Bay Area counties
Replied

@Ramki D.

These may be tedious to read but here's the current residential rent control law(s) in CA:

 https://leginfo.legislature.ca...

http://costa-hawkins.com/what-...

Iv'e always considered Natomas as North Sacramento..

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