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Real Estate
Reply to "Rent increase"
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[quote=Anonymous]I had a similar situation and I pretty much knew my tenants could not make that big of a rent jump easily. I spoke to them about it. I said that I have to raise rent, but will only go up 1/2 increase of what the market was. They had several months left on lease to think about and to look around (which I was fine with). They found out that they could not rent anything comparable at the rent I was offering them and then asked for a 2 year lease with the 1/2 increase. I approved it. They are happy, and I kept a good tenant without having to mess with relisting, repainting, showing the place, running new credit, checking references, etc.and having a happy, stable tenant I trust. Consider this instead of the idiot posting above me.[/quote]
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