Yearly Rent Increase
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Yearly Rent Increase (by Mr T [VT]) Jun 23, 2022 6:47 PM
       Yearly Rent Increase (by Jim in O C [CA]) Jun 23, 2022 7:26 PM
       Yearly Rent Increase (by Libi [NY]) Jun 23, 2022 7:58 PM
       Yearly Rent Increase (by Robert,OntarioCanada [ON]) Jun 23, 2022 8:58 PM
       Yearly Rent Increase (by Mr T [VT]) Jun 24, 2022 6:59 AM
       Yearly Rent Increase (by Oregon Woodsmoke [ID]) Jun 24, 2022 10:14 AM
       Yearly Rent Increase (by Robert,OntarioCanada [ON]) Jun 24, 2022 1:03 PM
       Yearly Rent Increase (by Sandy [CO]) Jun 24, 2022 8:34 PM
       Yearly Rent Increase (by Robert,OntarioCanada [ON]) Jun 25, 2022 1:54 PM
       Yearly Rent Increase (by Mr T [VT]) Jun 25, 2022 7:40 PM
       Yearly Rent Increase (by Mr T [VT]) Jun 26, 2022 7:02 AM


Yearly Rent Increase (by Mr T [VT]) Posted on: Jun 23, 2022 6:47 PM
Message:

I have been a Landlord for many years. I started with 1 rental house that I built 30 years ago. I got more serious about rentals 23 years ago. In the past 23 years my apartment rents have iincreased by 97%. Basically doubled. If I look at the average yearly increase it is 2.7%. Most of my Units include heat and hot water and a few include all utils. I have not been real good about rent increases each year, but I need to. I am only hurting myself. Rents have really started to increase and so have my costs. I am going to have to send out yearly increases from now on. --199.188.xxx.xx




Yearly Rent Increase (by Jim in O C [CA]) Posted on: Jun 23, 2022 7:26 PM
Message:

My second rental, a 3 BR, 2 BA and 3 car garage house , 1250 SF started at $410 in 1976 and just rented for $3000. --99.23.xxx.x




Yearly Rent Increase (by Libi [NY]) Posted on: Jun 23, 2022 7:58 PM
Message:

I learned here that rent need to be increased every year.

Well… during Covid decided not to increase, but my tenants was complaining that the rent was higher EVRY year.

Dam it! They were waiting for the increase, but I didn’t meet their expectations.

Will never disappoint them again. --74.90.xx.xx




Yearly Rent Increase (by Robert,OntarioCanada [ON]) Posted on: Jun 23, 2022 8:58 PM
Message:

In the future utilities may go up significantly where it may time to consider making a investment by converting out to individual utilities. In personal experience where tenants pay and control heat windows are closed up in winter along if electricity is separate lights are turned off when they are not at home. So the consumption of utilities drop significantly if the utility belongs to the tenants. If separate utilities 3 to 4 per cent per year but every year so will be able to maintain properties where if a roof or heating system is replaced then will have the capital to do that. One building where the heat was included a tenant wanted the heat turned up in February where scanned the radiator with a thermal camera where the radiator was at 40 degrees Celsius which is a two to one where the room temperature would be 21 degrees Celsius where then scanned the window where the window was wide open then asked if they walked around the block not a single building a window would be opened in February. Showed one of the high efficiency gas boilers was running non stop as boilers fire at a variable firing rate. If that was separate doubt the tenant would leave window open in February as the gas bill would go up. --216.110.xxx.xxx




Yearly Rent Increase (by Mr T [VT]) Posted on: Jun 24, 2022 6:59 AM
Message:

Yes I agree that we are going to have to put the utilities into the tenant's name. I used to have the tenant work with the local fuel company but the price was high and some skated off without paying and it came back to me to cover it. So I started to include the heat (Propane). This has been fine for the past 15 years, but with the attack on fossil fuels I know it is only going to go up. We may be forced to go electric which makes no sense at all, but at least I can get the utilities into their name. --199.188.xxx.xx




Yearly Rent Increase (by Oregon Woodsmoke [ID]) Posted on: Jun 24, 2022 10:14 AM
Message:

I expect utilities to go up quite sharply, so anyone providing utilities had best stay on top of rent increases.

Not just utilities. When I first started with rentals, property tax was roughly one month's rent. Now it is 3 or 4 times the monthly rent and it's not going to get any better. My tax appraisals just doubled. --76.178.xxx.xxx




Yearly Rent Increase (by Robert,OntarioCanada [ON]) Posted on: Jun 24, 2022 1:03 PM
Message:

If the electricity is separated then it easy to convert where install a high efficiency split heat pump which is used for cooling and heating all year round. Where as soon as rental is vacant then install. Most high efficiency split heat pumps will work at low temperatures. For tenants there is AC in summer and low heating costs in the winter where a high efficiency heat pump operates as refrigerator in reverse. Propane comes from refinery where want to avoid that all together. View some videos on You Tube about high efficiency split heat pumps. Having a rental unit with air conditioning and a efficient heating is better for renting. The price of oil or other products in the future is unknown. Look at competition then see how many have air conditioning which stands from the competition. It is easy to think in a box but outside of the box then innovations occur. Here when the last time oil spiked a lot houses in rural locations installed ground sourced heat pumps which are efficient all year round. --216.110.xxx.xxx




Yearly Rent Increase (by Sandy [CO]) Posted on: Jun 24, 2022 8:34 PM
Message:

I'm not sure if you have rent controls there, but if not, they may be coming. So for that reason alone I would keep your rents right up at the market rates. --37.19.xxx.xxx




Yearly Rent Increase (by Robert,OntarioCanada [ON]) Posted on: Jun 25, 2022 1:54 PM
Message:

Once there is provincial or state election where the new government legislates rent control then from that point on those with all inclusive rentals take the greatest hit as utility costs go up more then allow annual rent increases where all of sudden the government will start to expropriate rental buildings and houses. The basis of rent control is not control rent but bankrupt private sector rental housing providers then once the government takes over rent control ends where tenants end getting large rent increases. So the plan should always be where gradually convert out rental unit by one at time to individual utilities so if that happens will be always be in better position. Once the conversion has taken place the value of the rental properties goes up immediately. Take a careful look as a percentage of rent how much the utilities are costing. Another plus is those tenants with unpaid utilities are going to be screened out. Unpaid utilities and unpaid rent go hand in hand together. Suppose the price oil goes up more then where are the costs going to go. A decisive move where first one rental unit then another when vacant. Upgrading insulation will reduce the size of HVAC unit. It is next to impossible to even break even when the rent controlled guideline is less then annual increases in utility costs. --216.110.xxx.xxx




Yearly Rent Increase (by Mr T [VT]) Posted on: Jun 25, 2022 7:40 PM
Message:

Robert is so right. Luckily for us, we are a little behind in Canada's government control. I am watchiung Canada closly. --199.188.xxx.xx




Yearly Rent Increase (by Mr T [VT]) Posted on: Jun 26, 2022 7:02 AM
Message:

Libi (NY) is corect about rent control. So if you start now you will be all set. --199.188.xxx.xx





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