Start rent increases?
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Start rent increases? (by BRAD 20,000 [IN]) Aug 4, 2020 8:41 PM
       Start rent increases? (by Lana [IN]) Aug 4, 2020 8:50 PM
       Start rent increases? (by Ken [NY]) Aug 4, 2020 8:51 PM
       Start rent increases? (by Homer [TX]) Aug 4, 2020 9:57 PM
       Start rent increases? (by Jason [VA]) Aug 4, 2020 9:57 PM
       Start rent increases? (by Sisco [MO]) Aug 4, 2020 11:03 PM
       Start rent increases? (by Dave [MO]) Aug 4, 2020 11:17 PM
       Start rent increases? (by W [CA]) Aug 4, 2020 11:35 PM
       Start rent increases? (by small potatoes [NY]) Aug 4, 2020 11:50 PM
       Start rent increases? (by BRAD 20,000 [IN]) Aug 5, 2020 12:29 AM
       Start rent increases? (by Steve [MA]) Aug 5, 2020 6:07 AM
       Start rent increases? (by Lynn [MA]) Aug 5, 2020 6:34 AM
       Start rent increases? (by myob [GA]) Aug 5, 2020 7:08 AM
       Start rent increases? (by S i d [MO]) Aug 5, 2020 9:55 AM
       Start rent increases? (by Barb [MO]) Aug 5, 2020 5:01 PM
       Start rent increases? (by 6x6 [TN]) Aug 5, 2020 5:10 PM
       Start rent increases? (by Pmh [TX]) Aug 5, 2020 6:43 PM
       Start rent increases? (by 6x6 [TN]) Aug 5, 2020 7:05 PM
       Start rent increases? (by Nellie [ME]) Aug 5, 2020 10:49 PM


Start rent increases? (by BRAD 20,000 [IN]) Posted on: Aug 4, 2020 8:41 PM
Message:

We held off the rent increases during the crisis.

We have met our normal rent goal each month with only minor challenges.

Is it time to re-start increases?

What about the increases we stalled back in April and May? Think we can do a "catch up" increase?

BRAD

--70.158.xxx.xx




Start rent increases? (by Lana [IN]) Posted on: Aug 4, 2020 8:50 PM
Message:

Holcomb just extended the moratorium to mid-August. I am waiting until end of August to give notice of increases and I am giving 30 day notice to 2 more. I think our dear governor will keep pushing the moratorium out. He is being sued by 3 landlords, however. --216.23.xxx.xx




Start rent increases? (by Ken [NY]) Posted on: Aug 4, 2020 8:51 PM
Message:

Are the eviction moratoreums over in your state? i wouldnt increase rents until the moratorium is over so tenants dont just get mad for taking advantage of them during the pandemic and stop paying rent --104.229.xxx.xxx




Start rent increases? (by Homer [TX]) Posted on: Aug 4, 2020 9:57 PM
Message:

We typically send them out every April 1st, didn’t this year but are seriously considering getting them in the mail this month. Especially if that gubment money starts re flowing. --66.169.xxx.xxx




Start rent increases? (by Jason [VA]) Posted on: Aug 4, 2020 9:57 PM
Message:

Around here, inventory for rental housing is LOW. So if the rent is raised, tenants wouldn’t have many other options besides paying the increase. --73.177.xxx.xx




Start rent increases? (by Sisco [MO]) Posted on: Aug 4, 2020 11:03 PM
Message:

Similar delay here. I sent out rent increase letters and will begin receiving higher rate in September.

I would advise everyone to get theIr Rent increase now. --67.43.xxx.xxx




Start rent increases? (by Dave [MO]) Posted on: Aug 4, 2020 11:17 PM
Message:

Just mailed out several the end of July and will start seeing the increase for September. --173.216.xxx.xx




Start rent increases? (by W [CA]) Posted on: Aug 4, 2020 11:35 PM
Message:

Sent out 3 this month to take effect in 30 days. Rule is never give out a mass rent increase in the same comples - I only do 1 increase for one tenant per complex at a time. Unless you like rent strikes. Heard that is how rent control started in California - LL in SF gave large rent increases to everyone in his luxury apartment tower, which included the Mayor and most of the City Council as tenants . . . can you say Emergency rent control ordinance ASAP? --201.140.xxx.xx




Start rent increases? (by small potatoes [NY]) Posted on: Aug 4, 2020 11:50 PM
Message:

I am holding off on increasing rent for a couple of reasons. I have some vacancies coming up where I will increase rent so that's a good thing. and I don't want to create a situation that makes a tenant consider moving. I'm comfortable with the ones who are renewing and it's more trouble to screen for new tenants with the changes in the laws. Plus times are tough and some of my tenants were furloughed and went back to work. The extra benefit running out is wild card. One who is not renewing, says it's the loss of the extra 600/ wk. Moving back to be w/ family and save money. --24.194.xxx.xxx




Start rent increases? (by BRAD 20,000 [IN]) Posted on: Aug 5, 2020 12:29 AM
Message:

Small,

I will encourage you to raise each rent, at least a little, EVERY year. People do not move over a small increase but that small increase adds up x 12 months for the LL.

Your taxes, insurance, and repair costs have increased.

Studies show that folks seldom move due to a rent increase. If they complain they were likely planning on moving anyway.

Plus next year's increase in calculated from this year's price.

It's like careers - if your starting salary is just a few percent higher than others you will be making A LOT more in a few years.

BRAD --73.102.xxx.xxx




Start rent increases? (by Steve [MA]) Posted on: Aug 5, 2020 6:07 AM
Message:

I give all of my tenants 60 day notices of all rent increases. I find this gives them some time to look around & realize how "lucky" they are to be in one of my units. Since the bulk of my leases end in the summer, I normally would have sent them out the beginning of April or May. However with all that's going on this year especially with how easily our governor keeps extending the eviction moratorium, I've held off on sending the notices until September 1 at the earliest for a November 1 start date. --71.174.xxx.xx




Start rent increases? (by Lynn [MA]) Posted on: Aug 5, 2020 6:34 AM
Message:

I have held off on the rent increases on the market tenants because we can’t evict right now. Effectively you would need to terminate their existing contract and offer a new lease to raise the rent. Currently I’ve can’t tell anyone that they have to move, so if they don’t agree to the increase you don’t get it. --66.30.xx.xx




Start rent increases? (by myob [GA]) Posted on: Aug 5, 2020 7:08 AM
Message:

at the beginning of this C-19 on our renewals we kept rent current for 3 months with an increase in September-- when the dust settled.

Right now we just have normal increase. Everyone knows what they are facing now so back to some type of normal.

Now we only have one "working the system" that home has the tenant paying half the first-- 25% the 10th and balance the 20th. --99.103.xxx.xxx




Start rent increases? (by S i d [MO]) Posted on: Aug 5, 2020 9:55 AM
Message:

Yes, I think it's time to start increases. With all the Govt handout money sloshing in the system, prices are going up, up, up! Materials cost more. Handyman wants more. I'm sure Govt will want more in taxes this year too. Many cities are suffering massive budget shortfalls due to decreased business activity. How will they make up for that?

Real estate tax increases!

Raise rent a little, if nothing else. If someone moves over $10-$20/month, they were moving anyway and not because of your "cost of living" adjustment.

$20/month * 12 months * 10 units = $2,400. Big difference for the land lord. Tiny difference for each tenant. --107.216.xxx.xxx




Start rent increases? (by Barb [MO]) Posted on: Aug 5, 2020 5:01 PM
Message:

At Sisco's encouragement, I upped the most recent unit I filled. Since then, I've still gotten call after call. Makes me wish I had a few more ready to go!

I think my 1 bedrooms will definitely be more popular after this, particularly with the parents!

We also agreed via ballot to raise property taxes for the schools. I believe the increase goes into effect in January 2021, which will be collected in November/December 2021. So, I'll be good to do a new round next spring of everything. Most will go up by $5 or $10, but a couple of them will go up by $25 a month. --67.43.xxx.xxx




Start rent increases? (by 6x6 [TN]) Posted on: Aug 5, 2020 5:10 PM
Message:

I have an automatic renewal with rent increase built into my lease. It just renewed March 1st with a $30/m increase.

I have that in there as I learned from you AWESOME LL's.

I still have a lot to learn though. --73.120.xx.xxx




Start rent increases? (by Pmh [TX]) Posted on: Aug 5, 2020 6:43 PM
Message:

you are doing good 6x6 with auto increase. what is your % on current rent (?) I do 3% on rentals & rents to new renters 5% --107.77.xxx.xxx




Start rent increases? (by 6x6 [TN]) Posted on: Aug 5, 2020 7:05 PM
Message:

Pmh, I actually just have a $ amount listed in the lease. It ends up to 3.35% for now. Rent was $900 at lease signing and automatically renewed to $930.

I now realize that I should have done a % increase instead of a $ amount increase in the lease because as time goes by with the same tenants the actual % will decrease with the $ amount increase remaining the same. --73.120.xx.xxx




Start rent increases? (by Nellie [ME]) Posted on: Aug 5, 2020 10:49 PM
Message:

We only have 4 units now. 3 turned over and we got good rent increases. The 4th we issued a modest increase with no problem. --71.161.xxx.xxx





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