Landlord Question and Answer Forum

I have a 4 unit property, that I bought with tenant's and the rent is way under market , i have increase 10% to one tenant an efficiency still under market and did not renew lease on another tenant and had rented a 2 bedroom going on 6 months with a month to month lease and realized that it to is below market considering that a pay all utilities. like i mention its going on 6 month i rented but since then have received calls with some complaints which one is very reason about heat (it was little cold) i have took action and got the attic insulated two day have they called its was too hot not a bad complaint . then one month ago they tell me they had bedbugs i got exterminator found no trace of bedbugs good news.told them they would be reasponsible for extermintor bill wife works for city hall she tells me no i am. I go to city hall they said tenant is responsible... last week he calls he needs get another fire extinghur cause candle w/window open wind blow paper had to use.

to put fire out/ i was like what you really need to be very careful you could of burn down my house... I'm thinking of giving them a 9% increase which still is under market to cover little more of utilities that i pay for all excpet electric. what will you do any advice please. I new only 9 month being a Landlord.

Posted by Steven R, NY on Saturday, April 10, 2010

Steven: When I am deciding on rent increases, I take many things into consideration. How well does the tenant pay rent; Are they a nuisance? - how do they take care of the property unit? If it is a tenant who is a BIG problem, I adjust or increase accordingly. I also take the market into consideration..supply vs demand and such.

Posted by Denise S, PA on Monday, April 12, 2010