All Topics / General Property / Rent increases, how much is fair?

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  • Profile photo of neo25x5neo25x5
    Member
    @neo25x5
    Join Date: 2005
    Post Count: 166
    July 10, 2005 - 10:57 pm

    This topic has probably been sufficiently replied to by now, so i will just say that in reply the answer to this question is simple: THE MARKET WILL DETERMINE WHAT IS FAIR! This really is a no brainer sorry to say. Have a look at what the rents are for similar property’s where yours is situated. The question you need to ask yourself is if the 15% increase will make your rent more expensive or bring it up to par with the market. If its the latter then I would be increasing it and then finding new tenants.

    Eric

    Profile photo of oshenoshen
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    @oshen
    Join Date: 2005
    Post Count: 112
    July 11, 2005 - 1:50 am

    Thanks Jim

    Profile photo of Bris4171Bris4171
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    @bris4171
    Join Date: 2002
    Post Count: 29
    August 9, 2005 - 8:20 pm

    Oshen,
    You said
    “Being soft and too generous is not fair on yourself. It’s also not fair on the other person because you are creating the opportunity for them to do the wrong thing. That’s why I say I don’t care about how much people complain, as long as I know that what I’m doing is right. Which of course it isn’t always, but it is what I aim for.”

    You have earned my great respect (for what it’s worth :-) ) just from those words above.

    All the best.

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