oh great. thanks for all the info...I think I talked to bathtub doctor...I'll call Malga, they sound good
best of luck!

Posted by: sdweihe at July 3, 2008 12:07 PM in response to recommend someone to reglaze my clawfoot tub

Great. Thanks for all the input.

Posted by: sdweihe at January 9, 2008 2:57 PM in response to fair rent increase

Can I just ask why you want to raise the rents? For people who have been in the same place for that many years, a rent increase, even somewhat slight, is just what you need to edge you out into another place. So if they are good tenants and you don't want them to move, and you don't have legitimate reasons for raising the rent (like increased heat costs), I wouldn't do it. But that's just my two cents.

Posted by: rjlovie at January 9, 2008 2:57 PM in response to fair rent increase

How dare you evil landlord. Contemplateing trying to make an extra buck or two on the backs of your tenants. Why should you profit from your investment while some poor schlub has to actually pay to live someplace?

You should be subsidiziing their lifestyle as much as possible - pay no attention to market rents or what you are actually entitled to.

Posted by: guest at January 9, 2008 3:14 PM in response to fair rent increase

3:14pm - I wasn't suggesting that the landlord subsidize their tenants lifestyles. I was just pointing out that for a lot of smaller-time landlords, keeping good tenants is more valuable than the increase in rent they would recieve. I was just pointing out a risk involved... if her tenants decide to move, she'd have to find new tenants, and create a hassle for herself. Some people wouldn't want to have to deal with that, just to get $1200 more a year on rent rolls. By all means, ask for whatever rents you wish.

Posted by: rjlovie at January 9, 2008 4:22 PM in response to fair rent increase

There are no regulations regarding two family houses. You can raise the rent as much as you want. As a guideline, we go by how much the rent stabilization board increased rents to determine our rental increases. In 2007 it was 3.5% for a one year lease and 5.75% for a 2 year lease.

I'm in agreement with some of the other posters. If they are good tenants, and they pay on time, try to keep their increases lower. We had a good tenant who passed away, but we never raised his rent because when we went away on vacation, he would take in the mail, and keep an eye on the house. Unless you really need a rent increase to make ends meet, I would go with smaller percentages.

Posted by: guest at January 9, 2008 5:51 PM in response to fair rent increase

Is the rent right now close to market rate for your area? If it is and you like your tenants, I wouldn't take the risk. They may consider moving and you could be out a month of rent interviewing replacements. You may not like your new tenants for some reason too.

Posted by: Rick at January 9, 2008 7:57 PM in response to fair rent increase

I recently was in a similar situation. After not asking for a rent increase in 8 years because I appreciated my absolutely fantastic tenants, the decision to raise the rents was made out of necessity not a desire to make money. All costs (i.e., heating, taxes, insurance, water, electric, exterminator, etc.) have increased greatly. For many years I was, and to some extent still am, subsidizing my tenants even after a recent rent increase. Not everyone is greedy. If the OP was greedy he/she would not have waited four years to increase the rents and would be looking to raise them much more than $75 and $100. If the tenants decided to move because of the increase it would also cost them a lot of money, such as: a possible increase in rent anyway in addition to likely yearly increases thereafter, moving expenses, possible redecorating expenses, inconvenience (priceless).

OP - If you explain to your tenants that you do appreciate them and that you need to increase the rent due to increasing expenses directly related to the house, I am sure they will understand as long as you raising not more than market value. Most landlords ask for an increase on a yearly basis, so I would imagine that most tenants would appreciate not getting an increase in 4 years. Good luck.

Posted by: guest at January 9, 2008 9:18 PM in response to fair rent increase

That's reasonable. It is a good idea to give tenants little increases as your costs go up; the worst situation is not being able to provide good service to them because you can't afford it from the rents they pay. Also, it is good for them to know that rents do go up. Energy is up - electricity, heating oil, gas, etc. and water charges have gone up too.

Posted by: donatella at January 10, 2008 2:56 PM in response to fair rent increase

Stick it to them for as much as the market will bear.

Capitalism first!

Posted by: guest at January 10, 2008 3:20 PM in response to fair rent increase

That sounds completely reasonable. 4 years with no increase is a long time- and it seems like a very reasonable increase.

I agree though that you should discuss this increase with them- and give them a couple of months notice- and be clear that your costs are going up and you need to pass that along somewhat.

Posted by: guest at January 10, 2008 3:23 PM in response to fair rent increase

From a practical point of view, here's how we do it, it's worked well for us for 10 years. Do a survey of the broker sites and craigslist for apartments similar to yours, ie 1 br, 1 bath, etc..... Then, throw out the low price and the high price and take an average. That's the way to start. We've always been close with that approach. You are due an increase after four years, I know costs have really gone up.

Posted by: guest at January 10, 2008 3:54 PM in response to fair rent increase