How to Raise Rent Without Losing Residents
Can you keep up your occupancy while raising rents? Yes, it's possible! Here's how.
There’s an old saying that goes something like, “The only two certainties in life are death and taxes.” We’d like to add one more certainty to that list: No resident is going to be happy when you have to raise the rent.
It’s hard to prove that one wrong! Raising rent can lead to negative feelings, and if the renter’s sentiments are not addressed, they might move out and leave you with a unit to fill. That can be a costly situation, but it’s often avoidable.
So in the name of disproving a “certainty,” here’s how to raise rent without losing your residents.