All Forum Posts by: Austin Cook
Austin Cook has started 1 posts and replied 3 times.
Post: Hell yeah real estate woohoo!
- San Jose, CA
- Posts 3
- Votes 5
Welcome Iris. I live in San Jose and we have a SFH rental in Nashville. We are looking for opportunities like yours in the Bay area to have a primary residence with house hacking potential since we currently rent.
I am looking for meet ups as well with like minded investors in the area.
Post: Rent Increase 2023??
- San Jose, CA
- Posts 3
- Votes 5
Quote from @Trevor Richardson:
Quote from @Nathan Gesner:
From what I've read, rent rates in Nashville have increased by more than 10% in the last year. You could increase your tenant 5% and they would still be below average.
Better yet, don't listen to statistics and averages. Study your market and really understand the value of your specific property, then charge what it's worth.
If you feel these tenants were burned by the early hiccups, let them move out and start fresh with someone else that won't experience the hiccups and is willing to pay market rate.
Thanks all for the advice. I have looked at rates and fall in the top percentile of what it could rent for based on the size and location. median rates may have raised but I haven't seen the max rents increase at the same amount with a compression toward the top end.
Ultimately, I'm getting, research your area making sure you are still competitive and watch the increase in expenses and raise accordingly.
Post: Rent Increase 2023??
- San Jose, CA
- Posts 3
- Votes 5
I am going into my first lease renewal and wondering how many are increasing rent from 2022-2023?
I’m not expecting the tenant to stay more than 2-3 years. Since it was a remodel right before they did have to deal with some issues at the beginning so I have decided to stay at current rates.