Renter's rat damage

[Sunset]

I'm not sure the Property Manager felt enough pain. In my shoes I might nose around for another manager.

And I'd make the renter feel some pain as well. Mandatory renters insurance. Most every apartment manager requires it. And then I would have a rent hike on renewal..."due to market conditions"

I learned pretty early, to always have a rent increase every year. Not gouging, but at least some kind of increase even if my costs (ins,taxes,repairs,etc) didn't increase.

The reasons:
As landlord I'm holding pretty much all the risk, and for sure something will go wrong and suddenly I get a BIG jump in price.

It creates the expectation in the tenant that there will be an increase every year, and I think folks prefer consistent increases of: $25, $25, $25 rather than $0, $0, $95 (These come out to the same value but the second is a shock).

 

[Teacher Terry]

When we had good tenants we didn’t raise the rent until they moved. The tenant not wrecking things was more important than extra money.

 

[Sunset]

When we had good tenants we didn’t raise the rent until they moved. The tenant not wrecking things was more important than extra money.

What do you do if they stay there 20 years ?