[quote=Del Sur 14]When going month to month how do you deal with raising prices?
Do you just send a 60 day notice?
Do you ever work out a month to month lease tied to an agreement to not raise the rent until a set time?
Something like: Month to Month lease for $2500 a month, price is locked for first year and could be re-raised annually starting in June 2015?[/quote]
Personally, if I agree to lock the rate for 6 months or a year, then they will sign a 6 months or year’s worth of lease…
Month-Month + an agreement to lock the rent for a fixed period is every benefit for the tenant and no benefit for you….They can bolt whenever they feel like it, leaving you to backfill the month(s) that it goes un-rented.
I guess as an alternative, you could always charge $X/month and upon completion of 12 months, rebate back $Y, but personally I haven’t done that yet….
I typically have slightly below market rents, and try to get the best qualified tenant with great credit score…
