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Real Estate
Reply to "Annual rent increase"
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[quote=Anonymous][quote=Anonymous]Landlord here, we always put a clause in the lease contract that we will increase rent by 3% or more upon renewal after one year. We’ve usually stuck to 3 percent or slightly less, but at least the tenant is aware of that at signing and one year ahead of time so that there are no surprises.[/quote] +1 I do the same thing, but the increase is 4%. If the tenant is really good, I'll waive the increase after the lease expiration (12 months), but will increase the following year. It's much better than having a conversation every year about a rent increase. So it's expected or it ends up being a relief if I there is no increase.[/quote]
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