All Forum Posts by: George Cocokios

Hi Debbie. Thanks for your post. I typically raise rents slightly every year and even did so during the pandemic and only had 1 tenant leave because of it and i was happy they did leave. The west Valley is seeing crazy rent increases right now, up over $200 from my current rents there even after my slight increase last year. I hate to raise them that much but also don’t want to be that far below market rate. I’ve had a long time tenter there so hate to lose them but also don’t want to raise it that much. It’s a bit of a dilemma for me.

Thanks to all for your feedback. It's good to see people are thinking long and hard about their specific markets when considering rent increases. It's certainly one that warrants weighing the pros and cons considering costs are rising in all areas: taxes, insurance, HOA costs, labor and material for maintenance while at the same time trying to not lose tenants over an increase and then have a vacancy.

hi all, I'm looking for feedback on whether my fellow investors plan on raising rents in 2021 or how they feel about this topic. I'm an investor in the phoenix area and  rents are still rising at a crazy pace with no end in sight. I'm reading that the eviction moratorium will be extented into 2021 for a few more months and not sure if this should be taken into consideration for whether to raise rents or not just to keep up with what's going on in the Phoenix market.  Thanks for your whether you are in Phoenix area or for letting me know what you plan to do in your market.

George C.

I researched rents in my area using various websites such as zillow, hotpad, Craigslist etc, and was able to determine where current rates are at.  Currently higher than when I wrote the 2 yr lease.

Thanks to everyone for their feedback.  I need to raise the rent and will increase closer to market rate/just below.  I see now that I need to make small yearly rent increases to help my business cover costs and to also lessen the sting to my renters thus avoiding huge increases only every now and then.

George

Have a rental property in Phoenix metro area.  Rents have risen quite a bit in the past 3 years and i have not increased their rent but am considering raising it when it comes up for renewal this spring.  How much should I raise the rent  ?  I'm currently about $120 less than the cheapest rental on the market today but I don't want to freak them out with a huge increase.  Any suggestions on what to do ?

George.