Let’s face it—tenant screening used to be one of those dreaded processes involving endless paperwork and, occasionally, some creative storytelling from prospective tenants. But thanks to technology, screening tenants is faster, simpler, and feels less like detective work. Here’s how tech is giving tenant screening a 21st-century glow-up.
1. Online Applications: No More “Can You Read This?” Moments
Gone are the days of trying to decipher handwriting that could belong to either a doctor or a toddler. Online applications keep everything organized and legible, so you know you’re actually getting the right name, phone number, and not a mystery scribble!
2. Credit and Background Checks at Lightning Speed
You used to have to wait days for a report—now it’s all instant! Background and credit checks are as easy as ordering a coffee (but with fewer customization options). It’s never been simpler to see the financial and personal history of an applicant without awkward face-to-face questions.
3. “Are You Really Who You Say You Are?” Tech Tools
Thanks to digital ID verification, landlords can confirm applicants’ identities in real-time, avoiding any surprises down the line. No Sherlock Holmes detective work needed—just a quick check that confirms the name on the app matches the person who applied. Peace of mind? Delivered.
4. Payment History That Speaks Volumes
Wondering if an applicant is as reliable as they say? Predictive analytics can show their payment history and even estimate their likelihood of paying rent on time. It’s like having a crystal ball (minus the dramatic fortune-teller music). You’re not just guessing anymore—you’re using data to back it up.
5. Automatic Reference Checks So You Can Stop Playing Phone Tag
Automated reference systems take the hassle out of tracking down former landlords. Now you get responses in record time, and you don’t even have to play phone tag. A few clicks, and you’ve got a well-rounded picture of your potential tenant’s history, no gumshoe work required.
6. Built-In Security for Peace of Mind
All that data needs to be secure, right? With modern screening platforms, encrypted servers keep applicants' info safe and sound. It’s tech that’s as serious about privacy as it is about ease of use. You can sleep easy knowing you’re compliant with privacy laws, and your applicants will feel good about it too.
Wrapping Up: Smarter Screening, Happier Landlords
Technology has taken the tenant screening process from a marathon to a sprint. With digital tools, property managers can find the right fit for their properties faster and with more confidence. And hey, anything that means fewer phone calls and faxes? That’s a win in our book!
Ready to put together a tenant handbook that’ll save you and your tenants from countless emails and “forgotten” rules? Here’s how to make one that’s clear, comprehensive, and even fun enough to not be “lost” in a drawer somewhere!
1. Welcome to the Adventure!
Start off with a friendly welcome, making sure tenants know they’re in good hands with you. Sprinkle in a little humor—like a “house survival guide”—to let them know this isn’t your typical “rule book.” It’s a guide to happy living.
2. House Rules Without the Fine Print
Give them the lowdown on house rules, like quiet hours and guest policies, without sounding like a drill sergeant. Instead of saying “NO loud noise,” maybe try, “Feel free to belt out show tunes before 10 PM—just remember, walls have ears!”
3. The Secret to Staying in Good Graces: Maintenance Requests
Nobody loves a surprise plumbing issue, but knowing how to handle it helps. Include your process for repair requests and note any “DIY Don’ts.” Encourage tenants to reach out early (before the issue turns into a DIY disaster).
4. Rent Payment 101 (a.k.a. How to Avoid Awkward Reminders)
Outline how and when rent is due, but keep it light. We’re here to help, but a “friendly nudge” at the beginning is way more fun than a serious email about late fees.
5. Emergency “Break Glass in Case of” Protocols
Tenants might never need them (fingers crossed!), but it’s comforting to have emergency contacts and steps handy. Make it straightforward and clear where they can find these numbers quickly.
6. Shared Space Etiquette for the Socially Savvy
Got a pool? Gym? Communal laundry? A few kind reminders here on sharing is caring helps keep the peace. No one loves seeing an empty detergent bottle left behind, so a little humor goes a long way.
7. Wrap Up with a Wave and a Smile
End the handbook with a friendly reminder that you’re around if they need you. A quick “Reach out if you have questions—we’re just a message away!” is the perfect send-off.
Creating a tenant handbook doesn’t have to feel like writing a rule book. It’s your chance to make a great first impression and build a positive tenant experience from day one. Happy handbook making!
In today’s rental market, keeping reliable tenants can be more valuable than ever. Offering lease renewal incentives is an effective strategy to encourage tenants to stay longer, reducing vacancy periods and turnover costs. Here’s a look at why these incentives make sense and how they can benefit both landlords and tenants.
Fewer Vacancies, More Savings
Let’s be honest—no one loves turnover. There’s cleaning, listing, showing, and let’s not forget the random things you find in the fridge. Offering tenants a juicy renewal incentive can save on all that. Maybe it’s a discounted month’s rent, a modest upgrade, or even a “Thank You” gift card—trust us, a small incentive is cheaper than sitting on an empty unit.
Happy Tenants, Happy Landlord
Who doesn’t love feeling appreciated? A simple renewal incentive tells your tenants you’ve noticed they take care of the place (yes, even if they collect mugs). When tenants feel valued, they’re more likely to stay and communicate openly, so you’ll know right away if that faucet’s dripping or the AC’s on the fritz.
A Stable Income Stream
With long-term tenants, you’re not only gaining consistent rent but also cutting down on the wear-and-tear that constant moves can bring. Lease renewal incentives keep everyone happy, and your property remains in tip-top shape without the constant in-and-out shuffle.
Quick Ideas for Incentives
- Discounted Month’s Rent: Offering a partial discount on one month’s rent can be enough to make renewing feel like a win.
- Upgrades or Repairs: Small property enhancements like updated appliances or a fresh coat of paint can be highly motivating.
- Gift Cards or Service Discounts: Tenants often appreciate practical gestures, like a local grocery gift card or a discount on Wi-Fi services.
When you’re proactive about rewarding loyal tenants, the benefits can stack up in the form of cost savings, reduced turnover, and a happier tenant community. Sometimes, a small investment in appreciation can go a long way toward a successful rental business.
The rental market, much like the weather, is known for its seasonal changes. For landlords and property managers, understanding these fluctuations is essential to maximizing rental income and maintaining occupancy. Let’s delve into the factors that influence seasonal demand and how they impact rental pricing.
Spring and Summer: The Rental Olympics
Spring to fall? Welcome to the rental market’s busy season! Families, recent grads, and new hires are on the move, all wanting their next home sweet home, and they don’t mind paying a bit extra to lock it down. With the rental competition heating up faster than a July afternoon, landlords can often raise prices confidently. This period is like the rental world’s Olympics, so brace yourself—it’s time to go for gold.
Winter: The “Stay Cozy” Season
When winter rolls in, so do holiday plans and the desire to hibernate. Who wants to haul moving boxes in a blizzard? Fewer people are looking to move, and that means landlords need to cozy up to potential tenants with deals that stand out. Lower prices or a “first-month free” incentive can help landlords avoid the dreaded “vacant winter blues.”
Timing Your Rental Price Strategy
It’s all about knowing when to warm things up and when to cool down. Sure, you can make a splash with high summer rates, but be ready to pivot in winter with pricing that keeps the lights on (and those heating bills covered). By keeping your eye on the seasonal shifts, you can outmaneuver the market—no crystal ball required, just a little Nesbitt Realty strategy.
So, remember, much like holiday sales and beach vacations, rental pricing has its seasons, too. With the right timing and awareness, you can stay a step ahead of the rental market.
Being a property manager is about more than paperwork—it's like being the conductor of a well-oiled orchestra, where everyone plays their part and (hopefully) follows the sheet music. But what happens when tenants start riffing on their own tunes? That’s where our trusty property manager swoops in, cape and all, to bring things back in harmony.
1. Setting the Tone from Move-In
Starting with a friendly rundown of the lease terms (and maybe a wink about not trying to keep any surprise cats), property managers lay out exactly what tenants should expect. It’s clear, it’s direct, and it leaves little room for interpretation.
2. The Art of the Routine Inspection
Picture this: a quick but courteous check-in, a little wave to the tenant, and a keen eye spotting the makeshift BBQ station in the living room. These scheduled inspections help keep everyone in sync with the lease terms and nip any DIY projects in the bud.
3. “Oops” Moments and Friendly Fixes
Sometimes, even the best tenants need a gentle nudge. When lease violations happen, property managers know it’s all about keeping it friendly but firm. With a “let’s fix this together” approach, tenants are more likely to comply than to push back.
4. Documentation, Documentation, Documentation!
Every interaction, inspection, and (hopefully) rare violation notice is documented. This paperwork trail is like a safety net, ensuring no one “forgets” what happened. Because if it’s not written down, did it even happen?
5. A Little Extra Help for the Road
From reminder emails to a quick winter checklist, property managers go the extra mile to help tenants stay on top of things. It’s those little touches that make tenants feel cared for and keep compliance simple.
In the end, lease compliance is less about stern rules and more about a great partnership. A property manager isn’t there to police—they’re there to keep the tune steady, making sure everyone is in harmony, and avoiding those awkward drum solos that leave everyone scratching their heads.
When it comes to tenant requests for property modifications, every landlord’s been there. You lease your beautiful rental home, and next thing you know, your tenant wants to paint the walls lime green or install a ceiling fan that matches the one at their favorite beach bar. Modifications are a natural part of making a house feel like home, but managing these requests requires a fine balance between keeping tenants happy and maintaining your investment property’s value (and vibe!). Let’s dive into handling these with a sense of humor, a dash of practicality, and a lot of Nesbitt Realty know-how.
1. The Polite Pause: Don’t Rush to Approve
You don’t have to say “yes” or “no” on the spot. Take a moment to consider the request—and what it might mean for your property. After all, not every modification is paint or light fixtures. We’ve heard requests ranging from adding chicken coops to installing disco balls (yes, really). Think about whether it adds or detracts from your property's appeal and whether it could complicate things when the lease ends.
2. Weighing the Pros and Cons of Paint and Décor Requests
When it’s something minor like a fresh coat of paint or a few new fixtures, consider the request carefully. A neutral accent wall might be a win-win for both tenant happiness and future showings. But remember, any requests for “high-energy” colors (we’re looking at you, neon orange) might need a polite decline or compromise. No one wants to walk into a room that feels like it’s had one too many espressos.
3. Structural Changes: Proceed with Caution (and an Addendum)
If tenants want to make bigger changes—like adding shelving, removing walls, or upgrading the kitchen sink—this could affect the property's value or even its safety. Consider if the modification could actually be a value-add or if it may cause future issues. For anything substantial, you’ll want an addendum, outlining exactly what’s allowed, who’s responsible for the cost, and whether they’re expected to return the property to its original condition when they leave.
4. Be Crystal Clear: Put It in Writing
For approved changes, a written agreement saves everyone a headache. Clearly specify:
- What modifications are allowed
- Who will pay for materials and labor (usually it’s the tenant for non-essential upgrades)
- Whether they need to restore the property to its original condition before move-out
- Any deadlines or conditions around the modification
Written agreements are your friend! They keep everyone on the same page and ensure no one’s confused about who’s repainting those neon green walls in six months.
5. Alternative Solutions: Offer Small Improvements
Sometimes, it helps to find a middle ground that doesn’t require major work. If tenants want an upgrade because a fixture is dated or they’re looking for something you could reasonably do, maybe this is an opportunity to increase the rental value down the road. Offering minor improvements like new hardware, fixtures, or appliance upgrades may satisfy them without a full renovation.
6. Politely Decline Requests (When Needed)
If a request simply isn’t feasible or would interfere with future tenants, don’t be afraid to decline. Politely explain your reasons, and if possible, suggest a tenant-friendly alternative. Most tenants will understand if you make it clear why a modification isn’t in the cards.
7. The Final Inspection Game Plan
When your tenant eventually moves out, it’s crucial to double-check any modifications. Ensure they meet the move-out requirements outlined in the lease. If any repairs or re-painting are needed, assess costs and check your documentation. A clear inspection plan helps ensure both parties meet expectations and you’re not stuck with extra expenses.
With Nesbitt Realty’s light-hearted but serious approach, you can handle tenant modification requests confidently. It’s about keeping things functional, fair, and fun for everyone involved!
For anyone venturing into rental property ownership, it’s not just about passive income and tenant bingo—there are some real tax benefits that make those early mornings with your CPA worth every penny. At Nesbitt Realty, we know taxes aren’t the most glamorous topic, but when Uncle Sam is offering deductions, who’s complaining? Let’s dig into some of these tax breaks that help offset the late-night “it’s an emergency” plumbing calls!
1. Mortgage Interest Deduction: The Big Payback
Mortgage payments can feel like a bear, but here’s a twist: mortgage interest is tax-deductible! In other words, all that interest you’re paying the bank can work in your favor come tax time. Think of it as the tax season equivalent of finding $20 in an old coat pocket—pretty satisfying.
2. Property Depreciation: Money You Didn’t Know You Had
Here’s where it gets interesting: you can deduct a portion of your property’s value every year through depreciation (except for the land—IRS rules!). This won’t help the cash flow directly, but it’s like getting rewarded for simply owning something. And who doesn’t love rewards?
3. Repairs vs. Improvements: Knowing is Saving
Fixing a broken window? Deductible. Replacing all the windows to “modernize” the property? That’s an improvement and gets handled differently. The IRS wants to make sure you’re saving for real repairs, not a HGTV-style makeover. So remember, if you’re sprucing things up beyond the basics, it might not be a one-year deduction—but hey, it still pays off in the long run.
4. Travel Expenses: The Mileage Adds Up
Whether it’s a quick trip to tighten a doorknob or inspect a “broken” faucet (again), mileage is a deductible expense. And if you’re managing from afar, those airline tickets and hotel stays are fair game too. So keep your mileage log handy—it’s a little tax-time treat!
5. Professional Fees: The Tax Deduction No One Minds
Hiring a lawyer to clarify a lease or getting a pro for property management? Those fees are deductible, and they make your life a whole lot easier. Consider it paying for peace of mind, plus a little tax break on the side. Now, where can you get that deal?
6. Insurance Premiums: For When Life Throws a Curveball
Insurance premiums (landlord, flood, fire, you name it) aren’t just there for peace of mind. They’re deductible, too! In the world of real estate, the phrase “it’s covered” is the best of both worlds—both for peace of mind and your tax return.
7. Rental Losses: A Silver Lining to Lean Years
Some years just don’t go according to plan, and income might not match expectations. When expenses exceed income, the IRS often allows you to claim that loss against other income. This is one of those lifelines that helps keep landlords steady, especially in those “growth phases.”
Final Word: It Pays to Know!
Keeping tabs on these deductions can help make your investment more rewarding, even when tenants (and taxes) get a little unpredictable. And remember: consult a tax pro to help you navigate these benefits like the seasoned property owner you are (or are about to be!). After all, the IRS might not share our sense of humor.
Disclaimer: Nesbitt Realty recommends speaking with a tax professional before filing. Taxes aren’t one-size-fits-all, and we wouldn’t want any surprises (except the good kind)!
When it comes to rental properties, everyone loves a win-win, and energy-efficient appliances are just that! Imagine happier tenants, lower utility bills, and a greener planet—all from just swapping out a few machines. Here’s why making the move to energy-efficient appliances can be a smart choice for landlords and property managers.
1. Attract (and Keep) High-Quality Tenants
Today’s renters are savvy. Many are on the lookout for properties that align with their lifestyle and values, and “energy-efficient” is right up there with “close to transit” and “lots of storage.” Installing these appliances not only shows your tenants that you’re forward-thinking, but it’s a great way to attract people who are committed to long-term, eco-conscious living (the kind who recycle without reminders).
And bonus—since energy-efficient appliances often save tenants on monthly utility costs, that added perk can encourage them to stick around lease after lease.
2. Lower Operating Costs (More Money in Your Pocket)
Sure, an energy-efficient fridge or washer might cost a little more upfront, but the payoff? Those reduced energy bills add up. For units where landlords cover the utilities, the savings can be significant. Even for tenant-paid utilities, efficient appliances mean fewer repair issues and lower maintenance costs, which means fewer surprise repair visits (and surprise bills). In the long run, energy-efficient appliances can actually boost your property’s bottom line.
3. Incentives and Rebates (A Little Extra Cash Never Hurts)
Federal, state, and even local governments often reward those who go green. Look into what’s available in your area because there are often rebates or tax incentives for upgrading to energy-efficient appliances. Even a small rebate can sweeten the deal and help offset those upfront costs. After all, who doesn’t love a little extra cash?
4. Environmental Impact (Good for the Planet, Great for PR)
Let’s face it—going green is not only beneficial for our planet, but it’s also great for your brand. Tenants appreciate a landlord who’s committed to sustainability, and promoting your energy-efficient choices can create a strong, positive reputation for your property. And hey, it feels good knowing that your building is contributing less to carbon emissions and landfill waste. That’s one small step for a greener planet and one big step for the planet-loving property owner!
5. Reduce Wear and Tear (Yes, Really)
Energy-efficient appliances tend to be newer and are built to last. They’re designed with durability in mind, which means fewer calls about malfunctioning fridges or dishwashers. Plus, when appliances use less energy and operate more efficiently, they’re less prone to breakdowns. This can add a few extra years to their lifespan and save you from having to shop for new ones as often.
6. Increase Property Value (and Market Appeal)
Investing in energy-efficient appliances is also a great way to add value to your rental property. Potential buyers see those eco-friendly upgrades as future savings and modern touches, which means better marketability and potentially higher resale value down the line. Not to mention, your property will stand out as a sustainable choice in an increasingly competitive market.
Final Thoughts: Small Upgrades, Big Benefits
While switching to energy-efficient appliances may seem like a small step, the payoff is big. From cost savings to tenant retention to environmental perks, these upgrades are worth every penny. At Nesbitt Realty, we know that small touches can have a big impact on tenant satisfaction, property value, and even the planet. So, if you’re on the fence about upgrading, give those energy-efficient appliances a second look—you’ll be glad you did!
Ah, tenant disputes—a property manager’s bread and butter, right? Okay, maybe not the most glamorous part of the job, but it's essential! Managing tenant disputes effectively can make or break the relationship between tenants, landlords, and the property management team. So, how does a savvy property manager, like Nesbitt Realty, step in and handle these situations with grace, tact, and (of course) a dash of humor? Let’s dive in.
1. The Art of Listening: Hear Them Out
When a tenant dispute arises, whether it’s about noisy neighbors, maintenance issues, or that mysterious pet no one ever mentioned on the lease (looking at you, Mr. Fluffy), the first step is simple: listen. A property manager's job is to give each party a chance to air their grievances without jumping to conclusions.
At Nesbitt Realty, we believe in playing referee while wearing our best "listening ears." It's amazing how much calmer a tenant becomes once they feel genuinely heard. So, let the tenant explain what’s bothering them, and take detailed notes. You never know when those notes will come in handy!
2. Stay Neutral: The Switzerland of Property Management
Now, as much as you might be tempted to take sides (especially if Mr. Fluffy is incredibly cute), it’s crucial to remain neutral. The goal is to resolve the conflict, not fuel it. At Nesbitt Realty, we’ve perfected the art of being Switzerland—fair, calm, and neutral. Your role as the property manager is to gather all the facts from both parties and refrain from passing judgment too soon. Trust us, playing favorites only leads to more headaches down the line.
3. Set Clear Expectations: Lay Down the Rules
Disputes often stem from misunderstandings or unclear expectations. This is where a property manager shines! Remind the tenants of the terms in their lease agreement—after all, it’s the ultimate rulebook. Whether it's a dispute over parking spots, noise levels, or maintenance responsibilities, calmly and clearly explain what’s in the lease and what’s not.
For instance, “Actually, according to your lease, you’re responsible for maintaining Mr. Fluffy’s… activities. So, let’s make sure everyone’s on the same page regarding pet care.” Humor can diffuse tension, but it’s also crucial to stick to the facts and enforce the lease.
4. Problem-Solving Mode: Bring the Solutions
After understanding both sides, it's time to find a solution. This is where your problem-solving skills come into play. Can a compromise be reached? Is a mediation session necessary? At Nesbitt Realty, we believe every conflict has a solution—sometimes it's as simple as suggesting noise-canceling headphones or coordinating a maintenance schedule that fits everyone’s needs.
When presenting solutions, it’s essential to be reasonable and considerate of both parties. Think long-term: you want happy tenants, not just a quick-fix that’ll unravel in a week.
5. Document Everything: Paper Trails Save the Day
At Nesbitt Realty, we’ve learned the hard way that documentation is everything. Always, always, always document tenant disputes! You never know when you’ll need a record of the conversation or the steps taken to resolve the issue.
After reaching a resolution, follow up with an email summarizing what was agreed upon. This creates a paper trail, and in case the issue resurfaces, you’ll be ready to handle it without skipping a beat.
6. Prevent Future Disputes: The Proactive Approach
Why wait for another dispute to pop up when you can prevent it altogether? Regular check-ins with tenants, transparent communication, and ensuring the property is well-maintained can go a long way in keeping disputes to a minimum. Property managers who stay one step ahead of potential issues are the real MVPs.
At Nesbitt Realty, we believe that tenant education is key. By reminding tenants about their responsibilities and keeping lines of communication open, you’ll reduce the chances of a Mr. Fluffy situation (or worse) cropping up in the future.
Conclusion
Handling tenant disputes is an inevitable part of property management, but with the right approach, it doesn’t have to be a nightmare. By listening, staying neutral, enforcing the lease, and finding creative solutions, property managers can turn disputes into opportunities for better tenant relationships.
And, hey, if all else fails, there’s always Nesbitt Realty—your trusty team for navigating the trickiest of tenant challenges with a smile (and a pen ready for documentation).
Ah, rent increases—the words every tenant dreads and every landlord contemplates with cautious optimism. It’s not just about slapping a few extra bucks onto the rent each year (though we all wish it were that simple). As with most things in property management, there are legalities involved that you can’t afford to overlook. But don’t worry—Nesbitt Realty is here to break it down with just the right blend of practicality and humor (because who said legal stuff had to be boring?).
1. Know the Law (or Get Ready to Know Your Lawyer)
First things first—different states, cities, and even counties have various laws governing rent increases. In some places, rent control ordinances limit how much and how often you can raise the rent. Other places? It’s a bit more like the Wild West, where landlords have a lot more freedom.
But don’t go rushing off to raise rents by 50% just yet! Even in areas without rent control, many places still have rules about notice periods for rent increases. In Virginia, for instance, if you're on a month-to-month lease, the law requires at least 30 days' notice. If you try to sneak in a last-minute increase, not only will you lose goodwill with your tenants, but you might also end up in court. And trust us, no one wants to spend their Saturday afternoon in small claims.
2. Timing Is Everything
Picture this: it’s a chilly winter day, and your tenant just paid for holiday gifts, splurged on a vacation, and is up to their eyeballs in credit card debt. Then, bam! You hit them with a rent increase. It’s like getting coal in their stocking—and not the good kind that powers your house.
While it’s within your right as a landlord to increase rent, doing so at the wrong time can send tenants fleeing. Most tenants expect modest increases at the end of their lease term or when renewing, but blindsiding them during an off-season, like in the middle of winter, could cause unnecessary friction.
Nesbitt Realty Tip: If you do plan to increase rent, aim for lease renewals in the spring or summer when renters are more active. And always give plenty of notice!
3. Be Reasonable
We get it—costs go up, and you want to keep pace. But you’re not running a bidding war. Before you determine how much to increase the rent, do some market research. What are similar units renting for in your area? Are there other nearby properties with more or fewer amenities? You want to hit that sweet spot where you’re covering your rising expenses but not scaring off your tenants faster than a surprise landlord visit.
Remember, tenants talk. If they feel they’re being unfairly gouged, they won’t hesitate to tell everyone from their neighbor to the cashier at the local grocery store. Suddenly, you’ll have a reputation in the area—and not the good kind. Instead, gradual and reasonable rent increases help keep tenants happy while keeping your property profitable.
4. Put It in Writing
Verbal agreements are great for casual promises (“I’ll mow the lawn this weekend, I swear!”), but when it comes to legal matters like rent increases, you need to put it in writing. You can’t just casually mention it over a cup of coffee or during a casual chat about the weather.
Your rent increase notice needs to be in clear, written form, sent to the tenant within the legal notice period, and should explain the new rent amount, the effective date, and any other details. Stick to the facts, and save the jokes for another time—this is one area where clarity and professionalism are key.
5. Consider Negotiating
When you’re raising rent, it’s not just a one-way street. Some tenants may push back or ask for repairs and improvements in return for agreeing to the new terms. If they’re reliable and pay rent on time, consider compromising—maybe agreeing to a smaller increase or making that long-promised upgrade to the kitchen.
And hey, if you’ve got a stellar tenant who’s been renting from you for years, it might be worth holding off on any major increases. After all, vacancy costs you more than a modest rent bump would bring in.
6. Transparency = Trust
Honesty goes a long way in landlord-tenant relationships. If you’re raising the rent due to property improvements, rising taxes, or increased maintenance costs, explain that. It’s not just about taking more money out of their pocket—it’s about ensuring the property remains safe, well-maintained, and comfortable.
At Nesbitt Realty, we’ve found that when tenants understand the "why" behind the increase, they’re more likely to be accepting of it. So be upfront, be honest, and avoid vague justifications like “market forces.” You’ll come across as a landlord who’s reasonable and fair—and that’s worth its weight in gold.
Final Thoughts
Rent increases are a normal part of property management, but navigating them legally and fairly is crucial. By staying informed about local laws, being reasonable with your increases, and maintaining open communication with your tenants, you can keep both your rental business profitable and your tenant relationships strong.
And remember, at Nesbitt Realty, we’re always here to help with advice, support, and—when needed—a bit of humor to lighten the load!
