--76.29.xxx.xx

In this market, I can’t justify rent increases when balanced out with tremendously long term vacancies. Not worth rocking the boat. --24.152.xxx.xx

Are your current tenants paying below market rent? --76.29.xxx.xx

Some are, some aren’t. --24.152.xxx.xx

I don’t trust the market data anymore. I trust my #’s. I don’t care what some other landlord is ASKING for places on Zillow & I have no way of really knowing what other landlords are actually GETTING for their places. All I know is a vacancy is a 4-6 months. Not worth asking for $50 and losing $4,00-$6,000 because they move. --24.152.xxx.xx

Hard to define market rents today. --73.19.xxx.xx

If any rental house of mine did not rent out in 30 days or less, I would be selling it for whatever I could get for it. I have never had an extended vacancy over 30 days. 10-14 days is normal for me even with a lousy tenant pool. --76.29.xxx.xx

If any rental house of mine did not rent out in 30 days or less, I would be selling it for whatever I could get for it. I have never had an extended vacancy over 30 days. 10-14 days is normal for me even with a lousy tenant pool. --76.29.xxx.xx

That was my experience too until the scamdemic was put into action. 1-3 weeks vacant was normal all the time. Now the same units are extremely long vacancies. --24.152.xxx.xx

Got on Zillow, CL or wherever and look at the advertised rents that other landlords in your town are quoting for similar type properties as yours. That will give you an idea of what current market rents are. It irritates me when I learn that apartments in C hoods are getting higher rents than my SFH. --76.29.xxx.xx

I have several long term tenants. One has been with me since 2011 and for a 2-bedroom pays $780. She has had one increase since she has been living there. Doesn't ask for a lot. Two other long term tenants who have been living in the duplex for about 8years. One has had no rent increase and the other has had 2 (approximately every 3 years). This is their 3-year mark. But what's more is that my property taxes on all 3 of my units went up approximately $300-400. So those rents for sure will go up. --170.173.xx.xx

Roy, you only know what people are asking. You never know what they’re actually getting for a broad average. I know when I track what the competition is asking, my rent price usually ends up 15 to 20% below the average market for comparable units. It has been that way for years. The only difference now compared to years ago is the extended vacancies. --24.152.xxx.xx

Roy, you’ve also stated here, a few times that you have some unorthodox methods on how you rent places out to people as part of your screening. To me that means shady practices. Whether it is or or isn’t, I don’t know, but you won’t share them, so I have to assume they are. I’m thinking that might play into your very short vacancies. Because extended vacancies are becoming quite a common discussion on here with many landlords. --24.152.xxx.xx

I can't use the old fashioned property tax/insurance excuse anymore for raising rents. I would sound like a broken record player. It is the constant inflation at the grocery store and at Lowes/HD and Sherwin Williams that now motivates me to increase rents. --76.29.xxx.xx

Can you add the Jeffery Line after the increase... something like if this increase ??? isn't ??? for you, what amount is ??? I don't know how he words it. BUt if $50 doesn't work for for them what amound does ??? Maybe list $35, $45 or $50 ??? give them options. ??? I raised a HUD rent just this month $200 and they approved it !!!! --172.59.xxx.xx

that just gives them the ability to say no there is no inflaton, simply tell them to look around,if they can find a better deal they should give notice and move,that tells them you dont really care if they move and they will not be in charge of the conversation --104.131.xxx.xxx

You can add the Jeffrey line if you want too. However, I have been hesitant to use it since it gives the tenant an open invitation that you maybe open for negotiations on rent amount. --76.29.xxx.xx

I tend to give $25 increases as well on relatively market rate properties. But if they were SFH I would give $50. --99.33.xx.xxx

My C class homes are renting for $1800, I don’t intend to go up a single penny this year. Just finished several vacancies. Took 8-10 weeks on each of them. The past four years were hard on family budgets. Dozens of applicants and only a very few qualify. Not rocking the boat until the economy improves. --47.161.xxx.xx

Sorry I digress. Property taxes went up over $1000/place. My husband ran into one of our tenants and told her. She knows how much the new door she got when the Fire Dept. broke the door to save the life of a prank caller who gave the building address to 911. He even told her it wasn't sustainable. So I think she is forewarned that the rent will go higher. $50 sounds like a good figure or raise it to $35. That's not enough to move for. --75.11.xx.xx

The tariffs will never force Canada to become the 51 st. state as 80 per cent Canadians absolutely do not want to become part of the Us where this is viable country which is supplying the Us with oil below the world price along with hydro electric power. The hostile disrespectful talk has made of think about free trade with the EU. Cutting out essential government programs to benefit those want a tax break is to going to help the economy. After the provincial and federal election there is going to more trade within Canada along trading with other nations. Tariffs like what happened before caused inflation along with tariffs on steel, aluminium and lumber had to be dropped so history is repeating itself. Tomorrow if I need to go the hospital or doctors office I do not have to worry about the costs along with costs of prescriptions. Under universal medical care I am covered for high tech procedures along with everything else where only have to pay for the parking at the doctors office or hospital. For now tariffs are on hold for thirty days where many vacations were cancelled along with what was on shelf in the liquor stores was taken off the shelves. People who now go grocery shopping are looking to buy products made in Canada. Many tourist destinations in the Us are already seeing the decline in tourism where people will have to laid off along other industries will have lay off people. People will not crossing the borders for a day visit now. Free trade is free trade not tariffs. So what promised before the election is not what happening right now. History is where you learn what happened before. Any tariffs on a country there also be tariffs where that is paid by higher prices. --216.110.xxx.xxx

They moved next door. Got an apartment for 50% more than my building. Ans since that property was not under any rent control, after six months their rent went from $1,500 to $2,000 per month. --47.155.xx.xx

You don't have to give a reason. You know the drill. Respond by XX date with a sig agreeing to it or lease ends on X date. --73.230.xxx.xx

Because I am one of the few landlords left that still answers his phone calls (or texts) from tenants, I need to be prepared with a reason for the rent increase. Tenants can handle a rent increase if they can justify it in their minds. If they can't justify it, then they are free to move out. --76.29.xxx.xx

--50.96.xx.xxx

If I had Section 8 or other entitled tenants, I would do the same and use HUD data to support my rent increases. I try my best not to compete with HUD though. My tenants do shop at grocery stores, Lowes, Walmart and drive newer cars than I do. Need I say anymore? --76.29.xxx.xx

I think if you’re trying so hard to find a reason to justify an increase, maybe it’s not time for an increase. --24.152.xxx.xx

I made this post for one reason. To open a frank discussion among landlords who are all experiencing inflation in their business and personal lives. And since tariffs could make a bad situation even worse, I am amazed at the number of landlords here who choose not to raise rents because they fear they may have a vacancy. I actually welcome vacancies because it give me an easy opportunity to raise rents to market levels. --76.29.xxx.xx

Of course a vacancy is an opportunity to raise rent to market levels. However, many landlords here, as you can see in this discussion are experiencing extended vacancies. That’s why they’re not raising the rents right now. I’m curious when you’re going to share what unorthodoxy methods you have in your screening process that allows you to quickly fill vacancies. --24.152.xxx.xx

Also, a vacancy does not always equal getting a higher market rent. Sometimes you end up getting the same thing that you were getting. Sometimes you end up getting LESS than what you were getting. Like I said earlier in the thread, if you sit vacant for 4 to 6 months, how long is it going to take you to recoup that loss at your new price? You lose $4000 being vacant but increase 100 bucks, you’re at 40 months before you get that vacancy covered. --24.152.xxx.xx

--184.4.xx.x

I will not negotiate with a person regarding my business plan. If they think they can do better they are more than welcome to buy and rent properties on their own. --107.147.xx.xx

See a trend? --173.28.xx.xxx

Have you looked at rentOmeter? Run your property address, screen shoot the results. --172.59.xxx.xxx

Oh, BTW - I do not have 10 minute arguments with my tenants on the phone. I do have 10 minute civilized discussions with them on the phone on whatever subject they want to talk about. If they threaten to move out, I will tell them "No problem, I can re rent your house within one week to someone else at $100-$200 more than what you are paying now". --76.29.xxx.xx

This month I raised the rent 4% on a good tenant with zero pushback. People will move when they move but I’m going to keep my rents raised, regardless. --172.56.xxx.xxx

Well, if it was only that easy every time. One thing I’ve learned on here is that most people don’t usually post their true hardships. I’ve had good luck with the self rent raise letters. I only send them out on units that are substantially below market. Against my better judgment back in October or November, I sent out three raises certified mail. For some strange reason all three of them came back to me. On deliverable. It wasn’t a week later that I got two move out notices on different units.. And I said, thank goodness those letters came back. Real life experience is why I don’t rock the boat. I don’t pretend everything always goes smooth. I don’t automatically increase just because of year has gone by. I do what works best for me. I trust my own data, my own vacancy rate, and my own experience. --174.249.xx.xx

So, go make a separate post. And I will share some of my unorthodox tenant screening tactics with you. I just don't to be criticized for it. --76.29.xxx.xx

grab'em by the ankles, lift and shake. --69.130.xxx.xxx

Extended long vacancies here too. And I answer the phone. Turned away a lot. Had I put any one if them in this home they would have failed or my house would be a wreak from their pets. Judy saying. I want ya to succeed in my rental. I share NE experience and thoughts on not have any more. As political things iron out things may changed, but it seems more of an entitlement society instead of earning your way and being honest --172.59.xxx.xxx

I know longer give any explanation for increases. So much depends on how your rents compare to the market as well as your costs and profit. --47.205.xxx.xx

We don't raise rents for several years. Times are very tough right now and I know any rent increase will hit my working class tenants very hard, even $50. We'll wait this out. --131.249.xxx.xx

I guess it just comes down to the market being in transition. There are multiple ways to tackle any marketplace. No one answer fits all --50.96.xx.xxx

Elana-It is always hard,they like to be the victim,depending on how low your rents are and how many you have i would challenge you to raise one or more,if you are low and they leave who cares raise the new tenant to full rent --104.131.xxx.xxx

What county are you in Elena? If you are in far western Pa in the counties I am in, I am looking to expand my footprint in them --50.96.xx.xxx

Vacancies have been taking about a week to fill. I usually can't get the place clean and dialed in before people are ready to sign a lease. I'm sure this "problem" will change soon. --34.100.xx.xxx

--23.28.xx.xx

NE PA, To see what ‘SOME’ landlords are charging, look at For Sale properties. If it is currently tenant -occupied, the rents will often be listed. --172.59.xx.xxx

My units are generally below market rents. Most are my tenants are longstanding. I do raise rents every year from the start on all tenants as my expenses are always going up and I want them to understand that. However, the rent increases are minimal (maybe $20) and often don't cover the increase in costs. I hate turnovers! --73.234.xxx.xx

If they really don't think your costs have gone up, they are delusional. --73.230.xxx.xx

Roy, your challenge... accepted. 5313 Winthrop 63049. What am I doing wrong? Where is the improvement needed to attract the applicant for this house? Let's learn,,, go! Your on! --172.59.xxx.xxx

Maybe that is a contributing factor? Maybe it was just my silly old computer tho. --107.147.xx.xx

zillow show it for rent and an ZillowEstimate sell price but I dont' see it for sale. --172.59.xxx.xxx

zillow show it for rent and an ZillowEstimate sell price but I dont' see it for sale. --172.59.xxx.xxx

I had to contact Zillow directly the other day. My listing was active for a week or more, but wasn’t showing up anywhere. They got it fixed thankfully. --24.152.xxx.xx

Plenty, when I look it up on Zillow it shows off market. --73.19.xxx.xx

I get inquiries. I get applications. I offered it to two different families. One choose another house. One back paddled at home pet visit. But knew all along that was required. Roy, tell me what's wrong with this house? --172.59.xxx.xx

Plenty, it also shows off market when I look it up. Oh, the lovely double edge sword aspect of good old Zillow --24.152.xxx.xx

I took it off all the others, I took off all my nice copy, I just am tired of trying. Listed it with Avail that pushes it to Realtor.com as I believe that is more my target market and ttheir search engine will push to some other. It's unactive on my zillow, zumper and apartments.com for now, lots of leads and applications but tirekickers. --172.59.xxx.xx

Something that I noticed, and I’m only asking you this out of curiosity, is it too big? 1,400 sq ft to others that are much smaller with similar pricing. Are tenants concerned about heating it? If you look at your competition, most of them seem to be smaller square footage. --24.152.xxx.xx

Thanks NE will consider. That was just a ramdon number, it's more like 850 square on each level, Ranch with finished walk out basement. --172.59.xxx.xx

If you’re pushing 1700 ft.² on a two bedroom, that is pretty big. At least in my opinion. Heating might be a concern for someone looking for a two bedroom. --24.152.xxx.xx

Waiting for Roy's input. He put the challenge out there. --172.59.xxx.xxx

Could it be a 3 bedroom or more? --174.212.xxx.xxx

--107.147.xx.xx

Waiting to learn from Roy. Noted on the keep hole! --172.59.xxx.xxx

Plenty, you’re going to keep waiting. There is no secret. --174.240.xxx.xx

Here, you want the real secret? Drop your price $50 a month until it rents. That’s the best advice you’ll ever hear on Mr. Landlord! --174.240.xxx.xx

Drop price twice. Reduced SQ footage this morning. Will drop price again on Monday. Thanks for the tips. Still considering the peep hole. --172.59.xxx.xxx

Plenty [MO] I love it. I think you need better pictures. I watched some youtube videos on taking better pics with my iPhone and the difference was amazing on capturing the rooms better. Also I got a insta360 camera and did the Zillow free 3d tour it was a hit. Also I added a for rent sign by the road with a QR code that took them right to the 3d tour. I think also you should check your mrlandlord notes on how to fill units fast. Every time I am struggling filling a unit I realize we went over many ideas in class and I just forgot. Good luck it looks like a very nice place to live! --207.113.xxx.xxx

Sorry I forgot to answer the original question. I think you’re on the right track. Inflation is just another way to say everything keeps going up. I say you do the $50 and keep us posted on how it goes. I usually do my increases after the mrlandlord convention to give me Courage! --207.113.xxx.xxx

Thanks J. Will follow up with your suggestions. I'm here now waiting for a showing, fingers crossed! --172.59.xxx.xxx

By the way--I'm in a "blue state" and don't have much issue filling vacancy. --76.138.xxx.xxx

long thread so maybe I missed it. but what percentage is the $50 (?) I increase rents 5% each year for renewals. new rents go up 15% to start. I’m in a college town though so not comparable to many here. all my houses are rented through current renters leaving bc they are graduating. All have been with me 2-3 years. --104.28.xx.xxx

No point asking for a price point most people won't qualify for. --173.28.xx.xxx

WMH. that makes little sense. if others are getting higher rents then that means you can also…change your target mkt… --146.75.xxx.xxx

Like Ray-N-Pa I also look at the HUD FAir Market Rents which are adjusted every year to reflect the MEDIAN rents for the area. The Median rent is the middle rent with 50% above and 50% below. And it does include utilitites in their calculations. The local housing office does a survey every year of LL and uses that as a basis of the rent calculations. These rent figures are also used for Section 8, which will not pay rent that is above the MEDIAN rent. We have for years participated in the housing rent survey and we have given them all of our rents by bedrooms. I most cases our rents are higher that the MEDIAN rent, so in effect we have contributed to the rent figures rising. Also participating in the rent survey are apartment complexes. Since Covid there has been a big increase in rents, driven by demand, low inventory and tenants not moving as often. On 1 br units we raised rents by $125 and $150 a month, but we hadn't raised rents is several years and had tenants stay for 5 or 6 years. So we were neglectful in not raising rents since Covid. On a 4 br house we raised rents by $450 a month, but haven't raised rent in 3 years. We have had tenants stay for 30 years, and have a current tenant on their 25th year and several tenants in the 10-12 year time frames. Our average tenant stays 12.5 years, not counting newly acquired buidling. Just bought 3 brand new building on Feb 7 and have them rented up. --173.67.xxx.xxx