Factors to consider before increasing house rent

[btaliat]

Increasing house rent or tenement rate is a habit that is common among the landlord and landlady. The following are the factors to consider before considering the tenement rate:

The status of the tenants: in as much as others may see it as not that important, it is better for this to be considered. The higher the status of the tenant, the easier they will pay for any increment that the landlords introduce.

The economic situation: house rent should not be astronautically increased during bad economy lest there may be delay in payment or not paying at all because survival always comes first then.

 

[Ramolak19]

Every landlords should think about things like local rental prices, market trends, property quality, and tenant satisfaction before raising the rent on their homes. It's critical to evaluate how the rent increase would affect tenants' capacity to pay the increased rate and chances of signing new leases. To preserve a good landlord-tenant relationship, landlords should also be transparent with their tenants regarding the reasons behind any rent increases and give enough notice in accordance with local laws.

 

[btaliat]

To be frank, there should be established laws in place to ensure that the landlords don't just increase their house rent anyhow. This will prevent the incessant way some landlords always increase their house rent whenener there is inflation or increment in salary. This may be at the detriment of the tenants.

Any landlord that is found wanting of just increasing money anyhow to the tenants should be dealt with. This may serve as lesson to those that may want to involve in such a behaviour any longer.

And as well, there should be agreement between landlords and tenants before any increment is taken place.

 

[Holicent]

If you live in Nigeria, Lagos amongst others is a place you live only when you have what it takes, the cost of getting a house or apartment is high
even know if it's due to the selfishness of the landlords or increase in tasks or both. A very small apartment that is not even conducive costs a fortune. I don't even think there are laws binding this, nobody to regulate it so the landlords can just come up with suffocating house rent.

 

[btaliat]

Most people living in Nigeria will attest to the fact that it is not really the problem of the landlords and landladies but the house agents and caretakers. Most of the time, the agents will add unnecessary money that the landlords may not even be aware of. In rare case is when the landlords connive with the agents for this sinister move.

Unfortunately, all these are trending and want to become a norm because there is no law against this. I wish the new law that supports monthly payment will reduce the relevance of agents.

 

[Suba]

In general, house rental rates will be adjusted/increased according to a country's inflation rate. If the inflation rate is 5% then we can also increase the house rent or tenement rate by 5% per year. Apart from that, we can also consider factors, location, if the location is located in roadside, it will be more expensive because the house can be used as an office or shop house. We as homeowners also have to consider facilities such as swimming pools, complete furniture, of course they will be rented at a higher price.

 

[King bell]

When a landlord increases the rent, it requires serious thought because of its effect on both tenants and landlords. Some of these factors include local market conditions, comparative rental rates, property maintenance as well as improvements, operational costs, tenant retention as well as lease terms, tenant income levels and communication and property management before making any decision to increase the rent. Before deciding to raise rent, Landlords should study the local rental market conditions, compare their rentals with others in town evaluate what needs to be done to improve the condition of the property and how much this will cost them for example they can replace old equipment that is not energy efficient with new ones that are or carry out renovations on any section that appears to be worn-out. Such information creates an understanding between landlords and tenants/tenants regarding why such a move might be necessary. High quality ‘property management’ services can help maintain positive relationships with tenants and minimize oppositions against raising rents.

 

[btaliat]

Sometimes I always want to be objectives about some house owners increasing their house rent especially during the inflation period. There are some instances that landlords or generally house owners with the aim of meeting up with the economic situation. It is not a gainsaying concluding that most of the house owners, especially, the older ones among them, only depend on their house rent to get themselves sustained.

This may make them to be increasing housing rent incessantly without minding the effect that it will have on the tenants that rent the house.