Blog

Sep
30
Raising Rent Without Losing A Tenant

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As an investor of a rental property, it’s important to make a profit, and raising the rent is one way to keep your profits up. Here are some tips on how to raise rent without losing your tenant(s).



  1. Consistency

Every year, you should raise the rent even if it’s only a small amount. This sets the expectation that rent will go up at least a little bit every year. And most renters aren’t bothered by a small increase and won’t go through the hassle of moving over $15 a month.

  1. Give enough notice

Legally, a notice of rent changes must be given 30 days in advance, however, more notice is always better. Give renters enough time to know there will be an increase so they can plan accordingly.

  1. Offer an incentive

Incentives are not only a bonus for renters; it helps protect an owner’s investment. Simply incentives like a one-time house clean, one-time landscape clean up, one-time carpet clean, etc. don’t necessarily cost a lot but are beneficial to both renters and investors.

  1. Check the market

Make sure you are sending the increase at market rate. Raising rents too high will most likely either cause your tenants to complain and/or move out.

Tenants aren’t usually happy about rent increases. However, if it’s done in a structured and in a fair way, it will go a lot smoother.


TCT Property Management Services, LLCLess

TCT Property Management Services, LLC

2500 S Power Road #121

Mesa, AZ 85209

T: (480) 632-4222

F: (480) 632-4226

E: info@tctproperties.com


Office Hours: Monday - Thursday 8:30AM-5:00PM, Friday 8:30AM-4:00PM


TCT WILL BE CLOSED FOR THE HOLIDAYS  

(DECEMBER 24 - JANUARY 1)

2500 S Power Road #121

Mesa, AZ 85209

T: (480) 632-4222

F: (480) 632-4226

E: info@tctproperties.com


Office Hours: Monday - Thursday 8:30AM-5:00PM, Friday 8:30AM-4:00PM


TCT WILL BE CLOSED FOR THE HOLIDAYS  

(DECEMBER 24 - JANUARY 1)

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Jennice Doty, Designated Broker


For AFTER BUSINESS HOURS maintenance EMERGENCY, please call 480-632-4225 and the on-call property manager will assist you

Jennice Doty, Designated Broker


For AFTER BUSINESS HOURS maintenance EMERGENCY, please call 480-632-4225 and the on-call property manager will assist you

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Associations & Affiliations

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