| When you purchase a new property to add to | | | | you should either by letter, or preferably in |
| your rentals portfolio, you need to be sure you | | | | person, since you want to get to know your new |
| don't end up losing good tenants unnecessarily. In | | | | tenants anyway, show them why you need to |
| my 30 years of managing my own properties I | | | | make the increases. You don't have to go into a |
| have found that any kind of change is difficult for | | | | lot of detail but if gas prices in your area have |
| some people to accept, and especially tenants | | | | increased in the last year or so, you might give |
| who have been living in units that they consider | | | | this as the reason. |
| their home. | | | | If the rents are way under market rents for the |
| The first thing most of them will probably be | | | | area, explain this to them. To bolster this, you |
| afraid of is that you are going to do a blanket | | | | might show examples of rents for similar |
| raising of rents. Inc some cases where the | | | | apartments or houses being advertised currently. |
| previous owner for one reason or another has | | | | If you want to keep your tenants happy and not |
| not raised rents to keep up with ever increasing | | | | upset about the new ownership, frequent contact |
| costs, you may indeed need to raise rents. If | | | | with them during the transition may help preserve |
| rents have been traditionally low and haven't been | | | | your occupancy rate |
| raised in several years, the tenants may expect | | | | The information in this article is for education or |
| some kind of an increase, even though they may | | | | entertainment only, and the author will not be |
| not like it. If you don't make a drastic changes, | | | | responsible for the use or misuse of any of the |
| they may go along without any trouble. | | | | content. |
| If you are going to raise rents even a little bit, | | | | |