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Factors to consider before increasing house rent
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[QUOTE="King bell, post: 342533, member: 75687"] When a landlord increases the rent, it requires serious thought because of its effect on both tenants and landlords. Some of these factors include local market conditions, comparative rental rates, property maintenance as well as improvements, operational costs, tenant retention as well as lease terms, tenant income levels and communication and property management before making any decision to increase the rent. Before deciding to raise rent, Landlords should study the local rental market conditions, compare their rentals with others in town evaluate what needs to be done to improve the condition of the property and how much this will cost them for example they can replace old equipment that is not energy efficient with new ones that are or carry out renovations on any section that appears to be worn-out. Such information creates an understanding between landlords and tenants/tenants regarding why such a move might be necessary. High quality ‘property management’ services can help maintain positive relationships with tenants and minimize oppositions against raising rents. [/QUOTE]
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Factors to consider before increasing house rent
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