|
Four generations of rental real estate business in my family, and our rule has always been to never adjust rent on a tenant unless you just want the tenant to fuck off and die. A good tenant who pays the bills on time and doesn't fuck things up is worth more than you can get for almost any rent increase that is unlikely to drive the tenant away. Keep her around, and when she leaves adjust the rent to the current market. Obviously, if she stays there 15 years that's another story, but relatively few renters are that kind of long-term. When you're talking 1-5 year turnovers, happy tenants are the best kind.
Frank
|