All Forum Posts by: Natelya G.

Also, you can sell with tenants in place so you may want to get that other side rented again...you need money until someone else take it over legally.

Alot of investors are attracted to buying with tenants in place. I happen to have started out buying real estate with tenants because I was 1.5 hours away.

0 Votes

@Stephen Beckwith

If I were in your position I would brainstorm and do one of the following:

A. probably list the property for sale with or without a realtor

B. Send a notice to enter the unit and change locks (of course you will still have to provide them with a copy, but at least you will have a set when you send inspection notice

C. Read the lease with a highlighter to look for any loopholes

Just my thoughts..

0 Votes

Originally posted by @Ryan Pyle:

@Natelya G. I used to worry about the same thing. Just pretend you are a tenant and do a rent survey and see what their alternatives are. If you raise the rent to $1500 and everything else is $1500, they won't move. Moving is expensive and a huge pain. Tenants don't take moving lightly. It's a big decision. One other thing...I don't raise rents. I offer renewal options. I give them a notice that offers a 12 month renewal at the going market rent, a 6 month renewal at a $40 premium, and a month-to-month option at an $80 premium. The fourth option is to give their 30 day notice. This takes the conversation away from the rent raise and makes them think more about which option they want. It works very well. I have been very surprised over the years at how many tenants take the 6 month and month-to-month options and still never move. I have tenants that have been renewing their 6 month leases (at the new going rate plus the premium) every 6 months for years.

I love these options, will definitely revise my letter. Thanks!

0 Votes

Originally posted by @Ryan Pyle:

I am also in Toledo. I don't use a standard %, I do a rent survey and raise the rents to market. With that said, it seems to be typically landing around 6%.

One of my properties rents for $1,200 which was fmv one year ago, now the market analysis is saying $1,500, seem to good to be true. I don't want this particular tenant to leave anytime soon.

0 Votes

Originally posted by @Stephen Brown:

Generally in our area of Toledo I've been seeing $25-$50 for rents around $900 :D

Thanks! Trying to increase to market with shocking the tenants.

0 Votes

All Forum Posts by: Natelya G.

Natelya G. has started 10 posts and replied 59 times.

Post: Short-Term Rental Turnover costs

Post: Help! Tenant insists there is a leak but repairman can’t find one

Post: Created an LLC. Looking for some advice on switching rentals over

Post: QOTW: What is your “Why” for investing?

Post: QOTW: What is your “Why” for investing?

Post: Novice landlord in need of serious advice

Post: Novice landlord in need of serious advice

Post: For 2021, what percentage are you using to increase rents?

Post: For 2021, what percentage are you using to increase rents?

Post: For 2021, what percentage are you using to increase rents?