Quote:
Originally Posted by the Shemp
if its a good tenant, keep it the same..
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Agreed. My old business partner owned a lot of rentals, and he said that is the best policy.
You basically wait to raise the rent after a tenant moves out. Before I had bought my house, I lived in my old apartment the better part of 10 years. My rent was around $500.00 for a 2BR, 900 sq foot place. The neighbor had lived there 14+ years, and was still paying $450.00. It wasn't the best, but was in a nice area of the city. New tenants moving in were paying $700-750.00 which is more on par for this area by comparison.