I gave the tenant in my 5-bedroom house 65 days notice that I was moving in early next year.
I currently live in a smaller house and have a baby coming in a couple months, and also would like more space for everyone and guests and art projects.
Their response was to offer to pay more rent if they can stay another year. We worked out a 1,133/month rent increase. While I want more space, $13,600 a year provides a lot of compensation and I am happy not to disrupt my tenant’s life.
It’s 4200/mo now going to 5333. They pointed out they paid for a lot of minor things themselves like new interior paint and doors, and also did the leg work of arranging other things that I paid for. They also claimed to have scraped 6 layers of wallpaper from one of the bedrooms.
5333 is still a great deal on a 5/3 with big yard garage and 3 car non tandem parking near the beach, so maybe we will have a similar conversation next year. It is not a crazy deal however because only the kitchen and 2 of the baths have been renovated, parts of it haven’t been updated in 60+ years. The bedrooms are also all small in line with normal prewar housing. If I ever move in as planned, we’ll likely use the jack and jill bedrooms as a single master suite.
