If you've been paying attention to the Bureau of Labor and Statistics, you know that the rent index has been steadily rising by about 3.6% per year. Trends like this and other housing matters can leave some property managers wonder, "How can I raise my rent without losing tenants?"
You don't have to lose tenants and miss out on the opportunities to increase your rental income. There are a few tips and tricks to being able to run your property like the business it is, without causing problems.
The first step towards raising the rent is checking things out. You'll want to look to make sure that the current rental market in your area actually is a viable opportunity for more income. If it isn't, it really doesn't matter what the national trends are. You also have to combine this with the value to your tenants. If you have tenants that you value a great deal, you might also consider just grandfathering their rent at the current rate. If nothing else, always be sure that the notice is not abrupt. As much as people may dislike having to pay more rent, having it sort of thrust upon them at the last minute is even worse. Many property managers try tying it in with lease renewal, but make their mistake in not announcing it ahead of time. Consider 3-6 months' notice.
Inevitably, if you're a multi-property owner or if you've got a lot of units, คอนโดมือสอง ราคาถูก when you raise the rent there will be negative feedback. The best way to address this is, actually addressing it. It does you no good to simply raise the rent and then not discuss why with those who are voicing concerns. Even if you've explained why in a letter or newsletter, you may need to have a sit down. You can address this fairly easily by pointing out costs: taxes and fees, utilities, custodial and other things that justify a rent increase. Also, if you have an advanced notice portion in your lease, be sure you hold to that. If you've never raised the rent price, consider altering your lease to include that addendum for future use.
That's the most important thing you can do when considering and implementing a rent price increase: communicate. Most people aren't going to be thrilled at a rent increase, but you can definitely keep the conflict to a minimum if you're open and professional about the changes.
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