Tips on raising rent for current tenants?
I listed my home on FF in March or April, and as a first-timer, I lowered my goal rent by about $300 to attract more interest since I didn't have any reviews yet. I was hoping to start with a shorter lease of 2-3 months to get my feet wet, but I received a 6-month inquiry, and I got good vibes from them, so I went with it. They moved in in June and are staying until December. So far, they have been ideal tenants. They've actually fixed stuff up in the house, pay rent early, and have zero complaints. They requested to extend their stay on a month-to-month basis, for up to another 3-6 months. I told them I'm open to the extension but would get back to them with terms. My taxes will increase in 2027, and I'd like to increase their rent, but I don't want to scare them away. Does anyone have experience with this? How has it worked out for you? What's a reasonable jump in a situation like this?