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General Property Management
Best month to raise rents?
j
Jeffery P
started a topic
over 15 years ago
What's the best month to raise rents? I tend to only raise once every two or three years 5%. I want to start annual increases of 2% to 3%. Can you recommend the best month for annual increases?
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D
Donna
said
over 15 years ago
When I have a tenant on a month to month lease and I am ready to increase, I usually do it on the anniversary of when they moved in.
K
Kj B
said
over 15 years ago
The 12 month anniversary of the lease date. It makes it easier to keep records using the same date. Except in your case, if you haven't raised the rent in so long, NOW is the time to raise the rent, with the proper notice, of course. Did you realize that when you do not raise the rent each year, that you devalue your property?
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