Hi, we own a two family in northern nj. We live in one unit and rent the other.
We rented in 2020 our upstairs apartment to a family with one child (3 bedroom, 1 bath, updated kitchen, decent bathroom) fair sized rooms, a bit odd layout (you enter thru the kitchen) as it was a one family originally that was converted. We include the heat in the rent, water, allow access to our laundry machines in the garage and agreed to let them store a few things in our garage (wasn’t in the lease agreement). The rent is $2,150. We originally asked for $2200 but they asked for a discount for a two year agreement which started in early 2020. We agreed and gave that $50 discount.
This couple later moved in their mother, at first they said she was visiting and then she stayed. I was a tad annoyed by this bit in reality, she is just using a bit more water so it’s minimal expenses. She does smoke and go up and down 20 times a day as does her son.
They have always paid on time. And generally calm and no drama. They just do a few naive things at times - close doors hard. Leave door unlocked. Not properly closing garbage bins. They also don’t help with snow cleaning which I had said I’d do but I hurt my back and last season we got pummeled with snow and they never really helped me. I had to pay outside help. I also do all lawn maintenance. They are also a bit messy and the kitchen cabinets appear to be a bit dirty with grease from cooking.
Our taxes went up about 30%. Utilities have gone up 20-40%. The home needs repairs worth about $10K
We are thinking of raising $100 or $50. They have not had any rent increase since 2020 including the discount we provided for the initial lease agreement of two years.
I know there are two schools of thoughts. One - don’t raise rent on good tenants. Or raise rent to keep up with costs. They are decent tenants overall. And no one is perfect so wanting to get the thoughts of others.
TLDR: should i raise rent on my tenants who haven’t had a rent increase ever since 2020 despite rising costs and them paying on time always