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?

$199 was the original offer. Negotiated down to $150

Here lately $318

30% on a takeover with renovation plan

Holy moly! We max out at $50 (Alabama suburb)

$247 in 2006 due to proper rental increases not going on over many years. In 2010 I saw many clients in DC applying back 2 months prorated rent on units at $2k plus. So that is like $333.00 minimum. This was on a lease up/ new construction/ high rise not an existing 20 year old community.

I just gave someone a $200 increase on a 2 bedroom.

We are doing $250+ on some renewals right now

5 - 8% however the community where I live is giving up to 18% increases.

$634 is the highest, but the average for August and September expiration is $378

$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.

$25 to $1905

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.

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.

We are at 10% right now and it’s not fun. Averaging around $160-$250 increases.

I’m going to have my $35 increase complaining renewals call y’all

$100 increase. But honestly we wanted them to move. Most increases are $25-$50

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.

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.

$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

Over $500... they gave notice. They were so far below the market rate though so at turnover we closed that gap with the new resident. Have to watch yourselves these days though with rent cap laws

$250/ month, due to switching from manual increases to a LRO. Most of the residents paid the increase, because it was still lower than the surrounding competition.

How do you reply when the resident send you this long emails about how they pay the rent on time and they don't deserve an increase etc etc.