Tips to Consider if You Can Increase the Rent for Your Northern Virginia Rental Property

At the end of a lease term, when your tenant is deciding to leave or stay, you’ll need to figure out whether you can increase the rent for the next year. We always want to increase the rent if we can. However, consider whether you have a good tenant. Raising Rent While Keeping Good Tenants If your tenant wants to stay, look at the fair market value of your rent and if what you’re charging is in line with that. If it is, you should keep the rent where it is or do a very nominal increase. It’s good to increase the rent year after year if you can, but you always want to make sure you keep your tenant. A ... To read more, go to: http://www.richeypm.com/blog/tips-to-consider-if-you-can-increase-the-rent-for-your-northern-virginia-rental-property