Quote:
Originally Posted by jeffk
I would argue that a landlord that does not plan for maintenance issues and adjust the rent to deal with it is a poor financial planner.
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I am not sure if you have any actual experience owning rental properties but I would tell you that is just not correct.
The tenant couldn't care less what your expenses are, or have any interest in helping you to make a profit. Tenants will stay as long as they think they have a good deal and like where they live. As soon as you raise the rent to cover YOUR expenses, if it does not reflect fair market value, they will move along. From a tenant perspective your costs of ownership and maintenance mean nothing.
For the last 42 years I have followed the rental market closely to establish fair rents. I have reviewed numerous ads both in print media and on many websites to determine the market value of a property and determine what amount I could charge. That determination is what works in the real world, not what my expenses are.