When it comes to making the decision whether or not raise rent with an existing tenant, Property Managers are in a good position to help the owner in making that decision.
As a Property Manager we are in the unique position to know which tenants would take the increase with ease or not. It is shown that the happier the tenant is in their current situation the less likely they are to suddenly become unhappy if you raise their rent by $10-$20/month.
We also keep a close eye on comparable rents in that property’s area. There is a risk if you raise rent beyond what the neighborhood supports. We can communicate this to the tenant and reassure them that they are not getting “ripped off” and they are getting a reasonable price for their neighborhood.
In a worst case scenario if you raise the rent and your tenant decides to move, we can help determine what the cost would be to repair and rehabilitate the property for a new tenant.
As long as we’re doing our jobs well, we’ll have a history of prompt, open communication, reliable repairs, and we can leverage that to convince a tenant that their extra payout is worth what they’re getting.
Bonnie is the visionary that has driven the company and culture of Avalon since 1993. Her passion is improving procedures and practices; incorporating technology and value added services for both our clients and tenants.