APRIL 2018 POLL: How often do you review/raise your tenant rates?

Sue_C

How often do you review/raise your tenant rates?

Orkocean

Chose 9 months but honestly it varies based on demand/fullness. It could be anywhere from 6 months to 1 year for us.

skinman

Usually once per year for existing customers..now street rates.... as often as necessary

i43storage

I just received a nasty letter from a tenant who has been renting from me for 12 years and paying the same rent all that time.  She was upset that I raised her rent by $5.  Really?

Orkocean

12 years and you raised her $5?!?!? You animal!!! lol.. $5 increases were typically only for 5x5's or people who were currently already paying more than the standard rent someone new would pay just to keep them in the habit of receiving regular increases. If I had someone who I saw without an increase in 12 years if they were under the normal price i'd raise them to the current price or a $50 max if they were drastically under it then hit them again in another 6 months. 

i43storage

I was pretty tempted to say to her, "If you believe I have treated you unfairly, by all means, do what is best for you and feel free to move out." 

Sue_C

Thanks to everyone who voted in our April Poll regarding raising rates. Looks like Once a Year is the overwhelming favorite!

Stay tuned for our May Poll to be posted soon!