Friday, February 06, 2009
I feel the need to reiterate what I said last post. All the landlords I know are fearful that 2009 is going to be a rocky year. Keep the good tenants you have. Don't give any rent increase if you don't have to. Remember it is always cheaper to keep the tenant that you have as long as they are paying and are not disruptive to other tenants. If tenants what repairs and upgrades that are reasonable that agree. You will get your money back over the long run. If a tenant does decide to move out that you will have to take the pulse of your local rental market and see if you can increase the rent slightly. This will be a tough year but try and remain calm and work with the good tenants you have.