Have any of you ever offered a rent reduction preemptively to keep a tenant? Rent prices are coming down in the area. Not desperate but I think it would be “fair” to decrease rent by 5-10%. Already didn’t apply the 3% increase written in the lease last year.

Two townhomes, mortgage payments are ~$2,100 and ~$2,300 current rent ~$2,900 each. Both low maintenance units and tenants. Didn’t buy them as investment properties but decided to keep after moving out.

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I wouldn’t offer a reduction pro-actively, but not raising rent is pretty normal for a renewal.

If the tenant pushed back, I might be open to a slightly lower rate. But there are costs associated with moving, so even if your rent is $100 higher than a comparable option, many tenants will stay just to not jump through the hoops of moving

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