 583 dollars per hour (by S i d [MO]) Jun 22, 2018 12:25 PM
 583 dollars per hour (by DJ [VA]) Jun 22, 2018 12:35 PM
583 dollars per hour (by James [TX]) Jun 22, 2018 3:19 PM
583 dollars per hour (by Beth [WI]) Jun 22, 2018 5:47 PM
583 dollars per hour (by rani3182 [TX]) Jun 23, 2018 5:23 AM
583 dollars per hour (by Elena [PA]) Jun 23, 2018 9:47 AM
583 dollars per hour (by Pat [WA]) Jun 23, 2018 4:12 PM
583 dollars per hour (by BRAD 20,000 [IN]) Jun 23, 2018 11:17 PM
583 dollars per hour (by Bob [GA]) Jun 26, 2018 6:32 PM
583 dollars per hour (by S i d [MO]) Posted on: Jun 22, 2018 12:25 PM
Message:
It's that happy time of the month where I mail out rent rate increases. I have humble abodes, so keep in mind my humble rent increases are usually only about $25/month.
Sent 8 increases today. At $0.50 per stamp, plus add $0.20 for paper, ink and envelope, I'm "all in" for $5.60. I spent 20 minutes figuring the new rents and printing the letters.
$200 more income per month, starting in August. Work out to an hourly rate of $583.20 / hour net of materials.
I used to stay up late at night cleaning rentals to save $20/hour. Never got around to figuring, printing, and mailing rent increases.
When I took the mop and broom out of my truck, my income skyrocketed.
Happy Friday. --173.19.x.xxx |
583 dollars per hour (by DJ [VA]) Posted on: Jun 22, 2018 12:35 PM
Message:
Not bad....that's even more than my lawyer gets! : ) --68.10.xxx.x |
583 dollars per hour (by James [TX]) Posted on: Jun 22, 2018 3:19 PM
Message:
I sent out modest rent increase letters to 2 of my nicer cribs that had both been with me for 3 years. Had never increased the rent even though the taxes had been escalating. Both gave me 30 day notices saying they were buying. These were model tenants who paid on time and I never heard a peep out of. Would they have moved anyway? who knows? Can't help but think I gave then the nudge they needed. Oh well.... --97.99.xxx.xxx |
583 dollars per hour (by Beth [WI]) Posted on: Jun 22, 2018 5:47 PM
Message:
But Sid... you only counted the first month of rental increase. If you count the entire year’s worth of income, the number would be “a bit” more impressive. --66.87.xxx.xx |
583 dollars per hour (by rani3182 [TX]) Posted on: Jun 23, 2018 5:23 AM
Message:
James - I just sent one of these increases and have not heard back.... i am afraid of the same news...and it was only $25/month....aah the unknown we live with.... --73.232.xxx.xxx |
583 dollars per hour (by Elena [PA]) Posted on: Jun 23, 2018 9:47 AM
Message:
I never increase rent, and my tenants know that. They know that if they pay rent on time, keep the place clean, and don't complain about neighbors too much, the rent amount will stay the same. Has worked so far. I really don't think $25/month is worth losing a good tenant and turning the place around (at least not in my working class neighborhood market). It takes about 1 month of no rent and 1K to repaint/clean/repair. It's a long time to recoup that money with $25 a month increase. So we stay put until they leave. Then I repaint and put the higher amount. Worked well so far, we've been in business for 12 years. --98.115.xxx.xxx |
583 dollars per hour (by Pat [WA]) Posted on: Jun 23, 2018 4:12 PM
Message:
Just sent out $100 per month increase and she is staying happily. Rent under market and she knows it. --73.109.xx.x |
583 dollars per hour (by BRAD 20,000 [IN]) Posted on: Jun 23, 2018 11:17 PM
Message:
Go Sid GO!
And add the future years of increased income because you made the move now.
COURAGE!
BRAD --68.50.xxx.xxx |
583 dollars per hour (by Bob [GA]) Posted on: Jun 26, 2018 6:32 PM
Message:
I start new tenants with a 2 year lease and the second has an increase. I want them to get accustomed to increases. --104.176.xx.xx |
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