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Re: Best Way Increase the Monthly Rental payment?
by Kat (CA)
on September 17, 2017 @01:25
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Raise the rent the legally allowed amount.
In some locations, increases can be more if there are extenuating circumstances such as specific listed improvements or listed additional expenses. If any of these apply to your rental, you may be able to increase more than 5% but the increase is likely to be balanced by the increased cost of the improvement or other expense.
If you have a good tenant, don't fret about the increase you see in the general market.
When/if your current tenant moves, do a better job of checking comps and go on from there.
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