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Video instructions and help with filling out and completing Friendly rent increase letter uk
Hey I'm Clint with rent like a pro in this video I'm going to go over four easy ways to raise the rent and keep your tenants happy one building in the lease automate it so it increases by a percentage every time their lease comes up if they know upfront they usually don't get unhappy about it or upset about it it's when you change things out you're already in the lease or try to do these difficult negotiations later but if they sign a lease and you have a three or five or 2% regular increase that happens every year it should be fine especially if you've gone over the lease or shown them that up front to give them a discount now that sounds funny because you think I'm going to raise the rent but I'm am going to give him a discount because at the end of their lease there's a month-to-month fee that kicks in this was all explained to them when they sign their lease and let's say for example it's fifty bucks a month increase if they decide to go month-to-month right this fee is totally covered in our book we'll put a link to it below but I'll give you the basics of it right here basically if they decide to go on a month a month their rent goes up automatically by 50 bucks so what we do at renewal is we go hey if you want to go month-to-month there is an additional fee to that but if you'll renew right now we can renew and only increase your rent by twenty bucks we save you 30 bucks a month if you'll renew this month you have no idea how many tenants I said oh that's great thank you so much I raised their rent by 20 bucks saved them 30 gave them a discount off what their lease was going to do so they gave them a discount but now the rent went up 20 bucks 20 bucks is 20 bucks right three upgrades and improvements a lot of landlords let the property just sit there and they have this good long-term tenants for let's say 12 years right you know it probably needs new carpet and it might need paint and some things like that right and they'll wait till that tenant moves out then you'll go in and you'll put all this money in the unit and rent it the next person exit interviews will show they moved out because they found a nicer place and those long-term tenants are the ones landlords are afraid to bump the rent on right so in your usual communications always in writing you say hey you know on our last inspection you do regular inspections because you landlord like a pro rat we notice the carpet need replaced or you guys be interested in getting new carpet or you know paint or something like that care if they want.