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Perks of renting from National vs Enterprise?
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Perks of renting from National vs Enterprise?
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Subject Expert
3 thoughts:
- have you confirmed that you’re not in a rent controlled jurisdiction?
- have you checked to see what comparable rent would be in your neighborhood?
- if the tenant is a good tenant, I’d explore a minimal or no increase. If you’re happy with them as a tenant, there’s no harm in not raising the rent. It’s worth leaving a good tenant in place rather than having turnover, which costs money and might bring in a less desirable tenant.
Subject Expert
Just saw you’re in a negative cashflow situation. Raise it as much as the market will support. What’s competitive in your area?
Not trying to be mean, but how is this a remotely sustainable situation? You're bleeding cash every month, not making up the disparity soon, not building your maintenance fund ....how do you plan to get out of this?
Increase your rent as much as you can, that will still potentially get you tenants.
D2, it’s a single family home (3b2b). There is no way for me to know what is the going market rate. Zillow, redfn, data is pretty broken and show no trends for rentals.
I don’t want to include realtor or property manager in the picture because of there add on fees. They start with higher rent and then waster your time and also keep lowering the expected rent based on whether they find or not find tenant.
Appreciate if you have any tips on how to navigate!
Negative cash flow situation? Same here in Florida. Each long term rental cost me about $500 every month. Curios how about u have to put in in San Jose?
OP, you need to google the rent regulations for your city and county. Most large CA counties have increase caps. In my CA county, it’s 5% plus the CPI or 10%, whichever is lower. The limits vary for individual owners of SFR to four plex properties vs apartment buildings. Raise the rent to the max allowed. Guaranteed that you are likely under market since the CA rental market has been a study upward trend.