Proposing Raising the Rent to Tenants

One of the biggest questions we see from landlords is when are the best times to inform tenants of your property a rent raise.

How have you previously dealt with raising rent and what are your best practices?

Our best practice is to raise rents annually for every tenant. Those who may be close to market we may only raise by $10 or $1, but we make it part of the routine business to expect a rent adjustment every year.

We adapted to raising rents at the beginning of the third month of each quarter, sending notice at the beginning of the second month (or first month if they need a 60 day notice). That helped a lot vs. getting the exact date for each tenant.

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