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[quote=Anonymous][quote=Anonymous][quote=Anonymous]we have a tenant who has rented out a townhouse for the last 6 years, he is a great tenant, pays on time, takes care of the place, and unless some big issues do not bother us.
This area has gone up significantly in rent, new townhomes rent around 30% more, I am wondering if we should continue renting at the lower rent or put it back out on the market[/quote]

Are you insane???

You have a great tenant, who for the past 6 years has paid on time, he takes care of the property, and unless some big issues come up, he doesn't bother you, and you're all like:

"Hmmm? Maybe we've had it TOO good for TOO long?  Maybe we've been lucky for TOO long? Maybe it's our turn to be smacked upside the head to give us a reminder of the dregs of society and reality?  We've had an amazing run for the past six years, but I guess it's our turn to get a harsh reminder about squatters rights, and damage to the property, and non-payment for months on end... and by the time we realize that we should've been GRATEFUL for our wonderful tenant, it will be far too late. Oh well... break out the Craigslist ad!".

See what I'm getting at?

Ask him to pay 10% more this year, then 10% more next, and every two years after that (since you didn't increase the rent at all in 6 years) but for the love of God, do NOT let this tenant go!

... and if you DO happen to choose chaos & insanity, rather than stability and piece of mind; please post your tenants number here. 
I'll be thrilled to rent to him and unlike you, I won't take his respect for my property (and myself) for granted.

- owner/landlord 
[/quote]

Hey! Me 1st!  :lol: [/quote]

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