I have a tenant since 2018. Initially a one year lease.
Since inception, pays $3450 for a 4 BR, was at market at the time (with solar) but now significantly lags by $500 to $700 per month.
When I asked for a $25 increase, he pushed back saying in his experience house payments are fixed. He had not rented in decades.
He is an older gentleman (there is minimal wear on the house) and I am being patient, but that being said, I will start raising the rent by at least $50 per year to ensure the higher costs (property taxes/insurance/HOA) are covered.
I have another one close by which is somewhat nicer at $4500 a month for comparison.
Another one close by goes for $3900 without solar.
I do want to keep him because he has a lifetime guaranteed income from a major medical group in the area but rent can’t be fixed forever.
