All Forum Posts by: Esther S

Our SFR is in MN. We moved to PA in August and are renting an apartment here. After speaking to our PA property manager, she tells me that they raise rents every year 2-3%.

Our MN property manager says that rents haven't really increased but that there are a lot of renters looking for homes and that we may face 1 month vacancy if we increase rent. Our tenants pay rent on time but are SUPER fussy, so we (through our property manager) have heard from them a ton of times in the 8 months they've been there (with the corresponding maintenance payments, of course).

Would I be correct in interpreting that most investors do not raise rents every year?

Keep this coming! I'm learning so much here!

As I approach the 1-year point of our lease, I'm toying with the idea of raising rents. Of course, I am concerned that our renters would move out rather than pay the additional rent.

So, I'm curious about what others are doing. Are you:
- raising rents?
- how much more ($ or %)
- type of property (SFR, etc.)
- where are you?

Thanks much!

I've been lurking for a while but would love your take on my landlord insurance quote from Safeco (I have my Auto and Renters Insurance with them):

Coverage
Dwelling: $230,000
Other Structures: $23,000
Loss of Use: $23,000
All Perils Deductible: $1,000
C - Personal Property - Broad: $5,000
H - Premises Liability: $500,000

Premium: $668

What do you think?

Also, do you think we need an umbrella policy with this? We are accidental landlords. We live in PA but our property is in MN under professional property management.

I've been lurking for a while but am posting here for the first time. We own a single family home in the Twin Cities area and are currently living in PA. Since we signed on in August 2011, the BBB score of the company has gone from A to A- to B+ and our tenants are unhappy with the company. So do you know of any good property management companies in MN?