[quote=FlyerInHi]Apartment complexes always increase rent annually.
You should do the same also, even if only 1%. Bad business practice not to increase rents. Tenants take is for granted and don’t appreciate anyway. Train them early.[/quote]
completely disagree. there is an entire pain in the ass factor you are not considering. Maybe your rent pool is of lower quality, but I like to deal with tenants of higher quality that do not cause a lot of drama, who do not have a problem paying on time, and who do not like to move around. I have very low months of vacancy that I have to factor in as cost. And most of my tenants, when they do move out, it’s because they have saved/invested enough to buy their own home or have relocated to a different part of the country.
The main reason I am more than happy to keep rents below market is I value my time rather than spending my time dealing with vacancy. it’s extra days enjoying hobbies, spending time with family, going racing, or going to see a movie , going hiking, or traveling. Life is short…i am not trying to maximize my incoming funds if it means significantly increasing the pita factor. I don’t “need” to squeeze every penny out of people at this stage in my life. Who wants turnover all the time? perhaps if İ have no one or nothing else to do….or because i needed more time to blog on on piggington frequently. As far as I am concerned, it pays the bills and as long as it doesn’t inconvenience me, I dont mind cutting people a slight break.
