TOPIC: Quick Question: What’s the highest rent increase you’ve had to give an existing resident?

Quick Question: What’s the highest rent increase you’ve had to give an existing resident? 3 months 3 weeks ago #48295

$525- for some reason, this resident had not had a rent increase in 9 years, when we took over we gave them a 50% raise, but it wasn’t close to market.
  • Trisha West Virkkala
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Quick Question: What’s the highest rent increase you’ve had to give an existing resident? 3 months 3 weeks ago #48296

$25 to $1905
  • Stacey Wilson
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Quick Question: What’s the highest rent increase you’ve had to give an existing resident? 3 months 3 weeks ago #48297

Wow these numbers are crazy. We can't give more than a 9.2% increase in Oregon or we have to pay their relocating fees and those could be equal to 3 months rent.
  • Lori Segura
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Quick Question: What’s the highest rent increase you’ve had to give an existing resident? 3 months 3 weeks ago #48298

We’ve had to do +100% before on some take overs. This next month many notices going out at +25% due to not being able to keep up with the market for the last 18 months.
  • Miles Scruggs
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Quick Question: What’s the highest rent increase you’ve had to give an existing resident? 3 months 3 weeks ago #48299

We are at 10% right now and it’s not fun. Averaging around $160-$250 increases.
  • Brenda Andrews Sherrill
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Quick Question: What’s the highest rent increase you’ve had to give an existing resident? 3 months 3 weeks ago #48300

I’m going to have my $35 increase complaining renewals call y’all
  • Sarah Wilkins
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Quick Question: What’s the highest rent increase you’ve had to give an existing resident? 3 months 3 weeks ago #48301

$100 increase. But honestly we wanted them to move. Most increases are $25-$50
  • Stacey Pichette
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Quick Question: What’s the highest rent increase you’ve had to give an existing resident? 3 months 3 weeks ago #48302

I know that in certain areas new “cap” laws have been put in place due to corona virus. Besides that if you aren’t “rent controlled” or your company doesn’t have a cap increase percentage/amount stipulated in the lease they can really do whatever they want as long as they give proper notice before lease renewal. For companies that use LRO/yeildstar (supply and demand type pricing vs market rent) increases can get REALLY CRAZY exsp if they came in on a special or a really low rent due to availability at that time. I feel like subjecting renters to a 3% increase is pretty common, & fair BUT it’s up to the owner/mgt company.
  • Vanessa Coates
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Quick Question: What’s the highest rent increase you’ve had to give an existing resident? 3 months 3 weeks ago #48303

Austin's market has grown exponentially this year and we're looking at 12-15% renewals for all residents. It's coming out to $130-300 increases and I hear about it daily. But even with such a large increase they're all still well below market value so I let people go knowing I can rent it for a couple hundred dollars more than their highest renewal offer in a heartbeat.
  • Josh Lemire
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Quick Question: What’s the highest rent increase you’ve had to give an existing resident? 3 months 3 weeks ago #48304

$178/mo. I was so sad to give out this renewal cause they had lived here for 12 years. Older couple. Sweetest people. They renewed & I was so happy they stayed
  • Grace Howard
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