As a landlord, raising rent is often a necessary step to keep up with maintenance costs, property improvements, and market trends. However, it’s essential to approach rent increases with fairness and transparency to maintain a positive relationship with your tenants. At Tenant Screening Center Inc., we understand the delicate balance between managing property expenses and… Read more »
Although raising the rent is part of the responsibility of being a landlord, the process can often feel daunting. To meet your own financial obligations and keep your tenants happy, there needs to be a bit of a balancing act. If you raise the rent too high, you risk losing good tenants; if the increase…
Since 2017, the cost of rent has significantly increased throughout most of the United States, with the largest increases occurring from 2021 to 2022. According to a recent study conducted by Credit Karma, the average nationwide year-over-year rent increase from 2017 to 2022 was 5.77%. However, some states and cities experienced much higher increases, while…
As a landlord, you probably rely on getting your monthly rent payments on time in order to make ends meet. But what should you do if your rent collection day has come and gone, and you still haven’t been paid? This is a scenario that worries new landlords and industry veterans alike, and it can… Read more »What Was the Average Rent Increase in the United States in 2022?
What to Do When the Rent is Late
The rental housing market is seeing a slowdown, as rent growth has dropped over the past several months. According to Jay Lybik, National Director of Multifamily Analytics, CoStar Group, “After four quarters of supply additions outpacing demand, the market is shifting with national asking rents declining over the last 90 days by 0.4%.” During the… Read more »
Landlords Property Managers Contact TSCI According to numerous surveys, most landlords rank payment problems as one of their top concerns. Chasing down rent payments is a nuisance that wastes valuable time—it can also undermine the landlord-tenant relationship. Even worse, payment issues can put your rental income at risk and lead to tenant turnover and costly… Read more »
Landlords Property Managers Contact TSCI On occasions, you may have a tenant who wants to pay their rent in advance. They might want to pay for a month or two, or even as much as the entire term of their lease. It may be tempting to say yes because of the guaranteed cash flow—but is… Read more »
Rental income is one of the primary reasons many people invest in rental properties. Unfortunately, rent collection doesn’t always go smoothly—especially if your tenants have been impacted by COVID-19. The federal eviction moratorium and state moratoriums make nonpayment of rent even more complicated, as qualifying tenants cannot be evicted due to nonpayment. Whether you’re dealing… Read more »
The pandemic has caused unprecedented migrations from metro areas and rent declines nationwide, but San Francisco property owners have been hit especially hard, with rents decreasing by nearly 27% between early 2020 and early 2021. Lower Rents, More Incentives, and Less Money for Landlords While many renters have struggled to get by, so too have… Read more »