Finding the sweet spot: How to increase rent without losing tenants

16 Apr 2024

As a landlord, you need a healthy return on your property investment. But long-term, reliable tenants are equally as valuable. Frequent vacancies and tenant turnover can eat into your profits. Striking a balance between maximising rent and keeping good tenants in place is key.
We specialise in guiding landlords through fair rent increases when appropriate. We understand the importance of transparency and clear communication throughout the process. Here's what sets us apart:
Market-informed decisions: We don't rely on gut feelings. Our team conducts thorough research to determine the current market rental value of similar properties in your area. This ensures your proposed increase is both competitive and fair to your tenants.
Considering your tenants: We believe in a personalised approach. We discuss your tenant's situation, including their rental history and financial circumstances. A considerate increase, factoring in these aspects, minimises disruption and encourages long-term tenancy.
Gradual adjustments, not shocks: Sudden rent spikes can be stressful. We recommend a step-by-step approach, allowing your tenants to adjust their budgets comfortably while steadily approaching market value.
Open communication & respectful dialogue: Clear communication is crucial. We discuss proposed increases with you thoroughly, answer your questions, and address any concerns. We also guide you in communicating the proposed increase to your tenants professionally and respectfully, fostering open discussion.
Legal expertise & streamlined transition: Once a fair increase is agreed upon, we handle all the legalities. We'll serve the required Section 13 notice and ensure compliance. We understand that adjustments require time. Tenants receive a one-month notice period for a smooth transition.
All properties under our management benefit from annual rent reviews, which means that we are continuously helping our clients achieve the most optimal rent for their property as the market shifts.
Benefits of this approach:
  • Maximise your investment: Regular, fair rent reviews help maintain healthy rental income.
  • Retain good tenants: Reasonable increases combined with a well-maintained property encourage long-term tenancy, minimising costly voids.
  • Peace of mind: Knowing you're following fair practices and legal requirements ensures peace of mind.
Ready for a complete management service that benefits both you and your tenants? Contact Jake today to find out how our team of experts can guide you through the process to achieve the best outcome for all parties involved.

Posted By

Jake Astill

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