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Linny

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Posts: 41
Reply with quote  #1 
I am the landlord of a Commercial Property in Illinois. My tenants rent two 1440 sq ft spaces to run their businesses, a dental office and a tax preparation office.  I have not raised their rent since 2014, because they are good tenants, pay their rent on time, and rarely complain.  The time has come to renew each one of their leases (they are both on  year to year leases).  I feel they both should get an increase for 2016, but am not sure how much of an increase. I want to be fair, however, do not want to make it so high that they will start to complain. I am thinking of somewhere  between a $50 to $100/ month increase in their current rent.  I would appreciate your thoughts on this matter.
RentGera

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Posts: 13
Reply with quote  #2 
In order to stay profitable and operate a good business, you do have to raise rent sometime. Over here in Canada you're allowed to raise rent 1-2% each year.
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