 Raising Rent (by BH [DC]) Mar 31, 2017 2:20 PM
 Raising Rent (by Robert,Ontario,Can [ON]) Mar 31, 2017 2:26 PM
Raising Rent (by BH [DC]) Mar 31, 2017 2:56 PM
Raising Rent (by S i d [MO]) Mar 31, 2017 3:42 PM
Raising Rent (by S i d [MO]) Mar 31, 2017 3:53 PM
Raising Rent (by Bet [VA]) Apr 1, 2017 5:42 AM
Raising Rent (by BH [DC]) Apr 1, 2017 6:06 AM
Raising Rent (by Robert,Ontario,Can [ON]) Apr 1, 2017 10:08 AM
Raising Rent (by BH [DC]) Posted on: Mar 31, 2017 2:20 PM
Message:
State Specific Question About: DISTRICT OF COLUMBIA (DC)
What is the maximum amount rent can be raised at the end of a lease period if the tenant decides to stay for another year? The property is in Washington DC. --24.126.xxx.x |
Raising Rent (by Robert,Ontario,Can [ON]) Posted on: Mar 31, 2017 2:26 PM
Message:
In the Us some cities have a rigid rent control system where there are limits on how much the can be raised where other areas it is open market. Most raise the rent around 3 per cent every year as this covers annual inflation increases in operating costs. A lot depends if one wants a vacancy. A high rent increase may cause a vacancy. --74.220.xxx.xxx |
Raising Rent (by BH [DC]) Posted on: Mar 31, 2017 2:56 PM
Message:
The property is not under rent control.
--24.126.xxx.x |
Raising Rent (by S i d [MO]) Posted on: Mar 31, 2017 3:42 PM
Message:
If no rent control you can raise it as much as you want...keeping in mind to go with what the market will bear. --173.19.xx.xxx |
Raising Rent (by S i d [MO]) Posted on: Mar 31, 2017 3:53 PM
Message:
As a practical guide, between 3-5% seems normal although in a very hot market in could be significantly higher. --173.19.xx.xxx |
Raising Rent (by Bet [VA]) Posted on: Apr 1, 2017 5:42 AM
Message:
Have you done local market research to see what similar properties are renting for? --67.233.xx.xx |
Raising Rent (by BH [DC]) Posted on: Apr 1, 2017 6:06 AM
Message:
Yes, I have done local market research for similar rental properties. I could easily raise the rent $500 - $600 per month and still be highly competitive. Also, my concern is not if the current tenants leave or stay but only to maximize cash flow.
My question is based on the legality of the dollar amount increase. What is the maximum % rental increase allowable by law in Washington DC?...that is if there is a law that addresses non rent control properties. --24.126.xxx.x |
Raising Rent (by Robert,Ontario,Can [ON]) Posted on: Apr 1, 2017 10:08 AM
Message:
If there is rent control then it is legal to raise the rent by any amount but count on a vacancy with a high rent increase. Once the they move out then more then likely the rental unit will require painting along with any renovations to bring up to the standards of competing rental units. There will be a period of sitting empty while the renovations are done along with finding a new tenant. Renovations may involve upgrading a kitchen and bathroom. If the utilities are not separated out then when vacant it maybe a good to make the changes. --74.220.xxx.xxx |
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