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Anonymous

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Posts: 36
Reply with quote  #1 
This is just a general question that I'm curious about. When it has been time for renewal what is the most that you have increased an individual tenants rent at one time?

Please give a dollar amount and not a percentage please.
LLinVA

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Posts: 411
Reply with quote  #2 
Not in California, but ours are set to automatically renew at 5%. I have had people ask about this because they were used to rent control. So if the rent was $1,000, it would go up $50. If it was $5,000, it would go up $250. 

My first instinct would be that in California, you need to see what the state law says is the max. California being California, I would be surprised if they didn't have a law limiting how much you can go up.

Generally, you don't want to bump it up too much so you keep them. If the space is significantly under market value though, I would try to get almost to market value, but still offer the current tenant a little break for staying (maybe 5-10% off market value) since it's a lot less hassle to let a good tenant stay than to try to find a new one.
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