Re: Rent increase dilemma - Great tenants - Landlord Forum thread 317774

Re: Rent increase dilemma - Great tenants by Ron (Texas) on April 21, 2014 @19:33

I recently raised my rents $75.00 because of increased property taxes. My tenant cheerfully accepted the increase, 2 even said they were expecting as much if not more.
If you know you are below market, you can almost bet the tenant also has this information.

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Re: Rent increase dilemma - Great tenants by jannie (IL) on April 21, 2014 @19:50	[ Reply ]

OP did you determine that you were far below rent by looking at local paper, ads, craigslist? Or, did you go to Zillow which I have found shows rents at much higher than our local market would bear. I would raise rent small amount $25.00. I usually do not raise the rent for current tenants unless something (insurance/taxes have gone up).

Re: Rent increase dilemma - Great tenants by Anonymous on April 21, 2014 @20:58	[ Reply ]

I based it off of current listings on zillow in my zip code.

Re: Rent increase dilemma - Great tenants by Anon2 on April 21, 2014 @22:54	[ Reply ]

Unlike Jannie, I have found that Zillow rent estimates are "right on" for my market in the greater Cincinnatti area, so I think it depends on where you are.

Re: Rent increase dilemma - Great tenants

Re: Rent increase dilemma - Great tenants by Michael (AL) on April 22, 2014 @08:59	[ Reply ]

Current listings in your area may or may not be a good indicator. In my market, all realtor listed rentals on zillow are $200-$300 more than what I charge for rent. These properties I see sitting on the market for 6+ months. There is no way I would take an $8000 vacancy hit for the extra rent per month.

Re: Rent increase dilemma - Great tenants by MaineLL (Maine) on April 23, 2014 @09:29	[ Reply ]

I use craigslist for my comparison. They have interior photos so that I can get a sense of where my properties fall within the spectrum of prices. The address is nearly always included so I can also know whether I am comparing a similar area. I don't think zillow is very accurate for my area.