Is it a good idea to raise the rent on your tenant?
Maybe you leased your property in a soft rental market, and 2 years later you find out that comps are showing you could be getting $50 or $100 more a month on your rental property. That’s great for you! However, what if you have a tenant that has been in the property for a significant amount of time (1-2 years), pays rent on time, and never has issues. Do you really want to raise the rent on a good tenant? That might drive them away.
If you have a good tenant, wait to raise the rent. Once you have a new tenant coming in, that would be the best time to change the rent amount.
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