Why are you giving yourself a PAY CUT?? (Property Investors and Landlords, Listen UP!)
Channel: The Good Property Company / Susannah Cole
Date: 2017-12-04

If you are not putting in a formal rent increase every year, you are giving yourself a PAY CUT!!!
Cost of living goes up every year, and so you need to at least keep level to cost of living, which only amounts to a few pounds per month is not likely to have someone move out.
Say 2.5% or 3%, depending on the year and the economics. Not a lot, but over 10 years of not doing that, compounding that is a huge pay cut you give yourself. Especially if you have a large portfolio!
So WHY GIVE YOURSELF A PAY CUT?? 

You must have a professional focus on economics, to run a professional portfolio, and set a date and make that the date you do the formal paperwork (easily downloadable from National Landlords Association, an ace organisation) to ensure you put in fair rent increases every year.
Hope that helps!

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