Rent increase

[Aleksandar Marunic]

By how much do you increase rent after doing reno on your building?

[Henrin Mathew]

Depends.  We have a two storey building on rent. Every year there is an of 30- 40 percent on the rent amount as the agreement signed.

[Matt Belzile]

I'm no expert but does it make sense to amortize your reno cost on a certain number of years, then figure out how much of a monthly increase would cover that cost? 

Example: Renovation was $10,000 you feel it's acceptable to get paid back in 5 years - $2000/year divided by 12 = $166/mo increase. or round it up $170-$200/mo...

Does that make sense?

[Daria B.]

This is something that I grapple with and came to the same conclusion @Matt Belzilethat helped me to see the bigger side better. All in all though, sans the reno, if it's a good buy without it then as long as I could see what and when my return would be I thought it was a good choice.