Quote:
Originally Posted by Mr.HappySilp
I though there some policy/law in place to limit how much you can increase the rent. Also you can't say kick the person you renting out and then increase rent...... I think is 3% max each year?
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Yes but most landlords sign a year agreement so technically once the agreement is done you can rent at whatever. This law is basically in place so landlords don't increase rent on tenants say every 3 months or 6 months but it does happen because a lot people don't know the law and are afraid of been evicted.
Personally I've never increased the rent on any of my tenants, if after a year the person wants to stay another year I usually increase the rent by a small amount but nowhere near what market is asking. I'd rather have a good tenant instead of been greedy and increasing rent and getting a bad tenant.