I Don't Raise My Tenant's Rent & THIS IS WHY | MLS Search & Analysis 1,071 - 3820 Muriel
Channel: HoltonWiseTV
Date: 2021-12-07

What is the best way to raise your tenant's rent? Should you raise your tenant's rent? If you should raise your tenant's rent, when should you raise your tenant's rent? How to raise rent on tenants? If I raise my tenant's rent, how much should I raise my tenant's rent by? These are all great questions that many new landlords have when they start investing in rental properties that have tenants in them who are paying a below market rate rent amount. If you are one of the many landlords out there who is looking to find out how to raise rents the right way, who wants to know how to increase your tenant's rent without creating a vacancy loss, who wants to know the most profitable way to increase a tenant's rent amount, who wants to know the best way to deal with tenants paying low rent, then episode 1,071 of The MLS Search & Analysis Show is for you. During the show James Wise is working with an out of state real estate investor to help him buy a rental property in the Cleveland real estate market. The reason this New Yorker has chosen to invest in the Cleveland housing market is because it's much cheaper than where he lives in NYC. In addition, where he lives in New York he isn't even allowed to raise rents when he wants to. He has to deal with rent control. But raising rents might not always be the right answer. Just because you can raise rents in the Cleveland market whenever you want to raise rents, it's not always the smartest decision for your rental property business. Best of all, the insight James Wise provides this New York rental property owner turned out of state investor, not only applies to this Cleveland duplex, but any rental property that has tenants paying below market rent in an area without rent control. Stop raising rent without a plan. It's time to learn how rent increases can be implemented in the most profitable way possible without creating tenant turnovers. Tenant turnover is the most expensive cost associated with owning rental properties and tenant turnover should be avoided whenever possible, even if that means changing how you raise the rent on your tenants.


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