Annual Rent Raise Notice Aftermath - Landlord Forum thread 325094

Annual Rent Raise Notice Aftermath by anon (CA) on September 30, 2014 @20:27

I mailed out a couple of rent raises of $40/month. This was a 2.6% annual increase for 2015. Routine. From $1535 to $1575. Still a very good deal Southern Calif. One tenant informed me they made an offer on a house and discussed when they will close. They are excellent tenants and I will miss them, but it made me wonder if my raise notice was the last straw in their decision to buy. Just food for thought.

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Re: Annual Rent Raise Notice Aftermath by Anonymous on September 30, 2014 @21:23	[ Reply ]

So, what then, never raise a rent? That's just always the chance you take. They made an offer, and it may or may not be accepted. OR they're blowing smoke hoping you'll back the increase off. If I had a nickel for every "you know, we really would rather rent a house" or "jeez the <tenement> down the street is cheaper" I could get out of this biz.

Re: Annual Rent Raise Notice Aftermath

Re: Annual Rent Raise Notice Aftermath by CA/OR on September 30, 2014 @23:51	[ Reply ]

Over the course of years, I have been extremely forfunate to have a greater number of good tenants than troublesom(even more so without a property mgt company)...we communicate frankly, openly & sometimes uncomfortably, but we all have a proven understanding that we want what is best / fair (equitable) for all parties. Even though I very much appreciate my renters, I do raise the rent minimally on a periodic basis (might be every year or every two years depending on the situation). That raise may be as small as 20$ year, but I believe it sends a message (1. expect a rent increase 2. I value you, so I'm only increasing it # amount). But back to you...I suspect your renters were looking for a house of their own to buy and your decision to raise the rent had nothing to do with their decision. Wish them luck and ask if they have anyone they'd like to refer. :)

Re: Annual Rent Raise Notice Aftermath