Rent increase - how much is too much?

[donna]

Hi All,

Landlords have one crack at it every year. If the tenant accepts your rent increase but leaves after a month you're stuck with the rate for the next 11 months (is my understanding of the new rules). Therefore getting the increase amount just right is challenging - if you want to keep your tenant.

Do you think increasing the rent by $55 a week - that's $2860 for the year when previous increases have been around $10 - $15 is excessive?. Many of you may be wondering what all the fuss is about and just say 'go for it'.

Is anyone else experiencing indecision with rent increases?


cheers,

Donna

[artemis]

The idea was floated to tie rent increases to the property, but so far it is tied to a tenancy agreement. So the clock resets with a new TA. (So far!)

[Jeffa]

I charge market rent always have always will.

My rents can increase by as much as 80 pw or as low as 10 across my portfolio.

The market dictates my increases not my emotions.

[Jeffa]

I charge market rent always have always will.

My rents can increase by as much as 80 pw or as low as 10 across my portfolio.

The market dictates my increases not my emotions.

That includes lowering rent in an over supply market.

[Perry]

That includes lowering rent in an over supply market.

When did that last happen to you?

[Jeffa]

When did that last happen to you?

2015 Wellington

2016 CHCH

[artemis]

2015 Wellington

2016 CHCH

Auckland apartments at the moment.

[hawkeye]

2015 Wellington

2016 CHCH

Is that only for new tenants or for existing too?

[Jeffa]

Is that only for new tenants or for existing too?

Wellington was a new tenancy I think I dropped rent 20 or 30$ to get someone in.

Chch I think I dropped it $40 to keep the tenant they left anyway.

[Jeffa]

Wellington was a new tenancy I think I dropped rent 20 or 30$ to get someone in.

Chch I think I dropped it $40 to keep the tenant they left anyway.

Excuse my Auckland ignorance Wellington Porirua Hutt is all the same to me.

[donna]

The idea was floated to tie rent increases to the property, but so far it is tied to a tenancy agreement. So the clock resets with a new TA. (So far!)

Ok thanks fingers crossed it stays this way.


cheers

Donna