Tenants Now Have to Bow to Landlords’ Rent Increases

Rents will be going up. And It’s about time…

That’s the latest good news for landlords.

What’s more, our more contrite tenants will be accepting this.

High RiseRents will be going up. 

 

That’s the latest good news for [tag-tec]landlords[/tag-tec]. 

 

For the first time in 20 years, an estimated one in four tenants will be paying over half their income in rent.

 

This is shaky ground at the very least. 

 

Our policy  with our tenants has been the rents should be around 25% to 30% of their income.  However, we will probably have to re-think that.

 

Another major change is tenants are now expecting to pay higher rents.  This is significant because we aren’t having to pass out the deals anymore.    We can also increase rents to meet our rising property taxes.

 

Landlords will no longer  be losing  large numbers of tenants to home ownership.  Now that the days of easy subprime credit are over [tag-self]tenants[/tag-self] will stay put as they save for that first home. 

 

Read More

Leave a Reply