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I have very good tenants in one of my apartments, paying about $500-700 below market-value. The apartment has garden access, basement storage and a washer/dryer in the cellar.

I wish I didn’t have to raise the rent, as these people have become friends, but I’m being hit by water and gas increases that are making my head spin!

Is anyone aware of a percentage increase that can be applied to the utility increases we’ve experienced (it’s a 4 family house)?

And, regardless of the percentage question, I’d love to get input on what people are doing for rent increases.

From what I can see, this is a very desirable neighborhood, with little inventory available.

Thanks!