Quote:
Originally Posted by pitt_transplant
Normal rent control rent increases are around 5%.
I think it would be nice to give her a 90 day notice of increase so she has time to figure things out if she ahs to save to move or whatever.
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I think since her lease expires in July, we will be sending her a notice next month telling her that the rent will be increasing. 5% of $400 is only $20, but realisticly to be able to maintain the property effectively, I think the increase needs to be closer to 7-10%. I'm not sure, but I wonder if raising the rent to $425-$450 would be breaking the law?
Unlike Leighland keeps saying, we can afford the mortgage, but isn't the rent supposed to cover the mortgage, a fund towards the rented home maintenance and maybe a profit if possible?
I'm trying to be as fair as possible, but I am not trying to go broke renting to this lady while she is not paying competetive market rent amounts.
Am I being unreasanoble?