RE: fee for long term guests
I would increase rent based on the rise in property value. If you were to sell your property it would be worth more than it was ten years ago, unless it is not being maintained.
Posted by
Bea S, SD
on
Tuesday, March 28, 2017
RE: fee for long term guests
If they are staying long term have them sign the lease and increase the rent 5 to 10 percent to cover increased wear and tear.. Maybe more if you pay any of the utilities.
Posted by
Scott H, VA
on
Friday, April 7, 2017
RE: fee for long term guests
I would just ask them I know that you have more occupants and I want to see If they are staying if so I would like to let you know that I will have to discuses rent just a little to cover the added wear thanks
Posted by
Tim and Vicky R, OH
on
Wednesday, July 12, 2017
RE: fee for long term guests
Rental property should be treated as a business. # of people living in the unit should be based on # of bedrooms and age. If your property can support the additional individuals and they want to stay there, have them fill out applications and do a credit check on them. They should be treated as new applicants. If they qualify adjust the rent as needed. If they refuse to apply, send actual tenants a 3 day Notice that they are in violation of the lease agreement and additional individuals must leave or you will start an eviction process. If current tenants move you should be able to get a much higher rent since they have been with you for 10 yrs. Must landlords don't keep up with current rents for fear of losing a tenant. As a result, rents tend to be a lot lower vs going rate. This is my opinion based on yrs of experience. Keep us posted. Interesting topic.
Posted by
Stan M, CA
on
Thursday, July 13, 2017
RE: fee for long term guests
You have a good tenant who has been renting from you for 10 years. Everyone has hardships in their lives. These are his parents, not friends. I would not do anything. I would allow him to help his parents who in end will most likely help maintain the property and home. Do not lose a good tenant over a little bit of greediness.
Posted by
Douglas S, WI
on
Thursday, July 13, 2017
RE: fee for long term guests
Douglas....this has nothing to do with greediness. If tenant and parents have an outing and tenant moves while parents refuse to move he would have a hard time removing them from property. Loss of income since parents are not on lease and eviction cost. As mentioned above, rentals is a business and must be treated as such. The question he has to ask himself is "How many months can I go without collecting rent before I go under?"
Posted by
Stan M, CA
on
Thursday, July 13, 2017
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