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I own a nice rental house. Ot is now on mo/mo since one yr…

Hi, I own a...

Hi, I own a nice rental house. Ot is now on mo/mo since one yr lease @$1615ended Sept 2017.

Lawyer's Assistant: Because laws vary from place to place, can you tell me what state the property is in?

Time for a rent increase. Rents and home prices have risen

Lawyer's Assistant: What are the terms of the lease? Any issues related to maintenance or upkeep?

Risen so that now house should rent at $1900. How much should I charge?Tenantaren

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

Tenants are good.

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Answered in 12 minutes by:
3/25/2018
Gerald-Esquire
Gerald-Esquire, Attorney
Category: Landlord-Tenant
Satisfied Customers: 5,366
Experience: Over 30 years of experience
Verified

Hello,
Thank you for using Just Answer. Please bear with me while I review your question. I will respond fully shortly. Thank you for your patience.

Ask Your Own Landlord-Tenant Question

Hello,

Thank you for your patience and thank you for using Just Answer. I want to provide you the best service I can. Please feel free to ask any follow-up questions you have.

I am an attorney with 30 years of experience. I am also a former landlord. I hope to provide you information that will help you in resolving your question.

Most states allow you to increase your rent as you like. You need to provide a written notice (30 days) that you are increasing the rent.

You need to examine the market and see wha rents are for properties such as your in the general neighborhood that you are in.

You of course want to take into consideration that your tenants are good tenants. That is worht a bit of a discount on the rent, because a bad tenant can ruin you quickly.

Generally a 3 to 10% increase is normative. Higher if there has not been an increase in several years.

There are some states that limit the amount you can increase the rent by. See this link to review whether your state has such a limit:

http://www.landlord.com/rent_control_laws_by_state.htm

I hope the information I provide is useful to you. I want you to be comfortable and satisfied with my attempt to assist you. Please, if you have ANY follow-up questions, feel free to ask.

If you ask a follow-up question and I do not respond immediately, it is because I am temporarily unavailable. I promise to respond as soon as I return. Please note that I am often unavailable Friday evening through Sunday.

Please do not forget to give me a positive rating. It adds nothing to your costs but helps me greatly. Thank you.

If you are dissatisfied with my response, PLEASE let me know before giving me a negative review so that I may try to be of better assistance. Or, if you prefer, let me know and I can “Opt Out” and your question can be re-posted without additional cost to you. I will be fair to you, and only ask the same from you.

Good luck.

Please note: Information is educational and not given as legal advice. Only your local attorney can give legal advice. I can't establish or accept an attorney-client relationship with you. All posts are available for public viewing.

Kind regards,

Gerald

Gerald-Esquire
Gerald-Esquire, Attorney
Category: Landlord-Tenant
Satisfied Customers: 5,366
Experience: Over 30 years of experience
Verified
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The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

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