How to increase your tenant's rent - so they don't hate you!
Jacquie Edwards
Helping women business owners to confidently invest their money by understanding fun, ethical and sustainable investments that make an impact.
Because of the “quiet” time in the Rent to Rent business during summertime, rent is either stabilizing or actually decreasing in certain areas. On the other side of the spectrum, your HMO’s are becoming saturated, so competition is fierce out there at the moment; prices are coming down, yet you have to increase the quality of your offerings. So, during this time, rent is usually increased to make up for this slow period. But this can be a tricky slope to navigate – especially if its long term tenants that you’ve had for quite a while.
The secret lies in how you convey the message, and it all boils down to how you are adding value. This will actually improve the relationship between you and your tenant and not cause those dreaded ructions. To find out how I do it, watch our video on the topic here.