While raising rent probably isn’t on any landlord’s list of fun ways to spend their day — given that tenants won’t exactly respond to the news with happy excitement — it’s a necessary part of property management.
Here are the top 5 reasons to consider raising rent.
1. Keeping Up With the Market
One of the best reasons to raise the rent is keeping up with the local real estate market. A 2013 report on the rental housing market from the U.S. Census Bureau indicates that the rental market continues to tighten across the country, with prices increasing as demand rises.
Read more...5 Reasons Why You Should Raise the Rent