Why Raising Your Rent to Fair Market Value is a Smart Move

If you are a landlord, raising your rent to fair market value can be a good financial decision, as it ensures that you are charging a rate that is in line with the current rental market in your area. This means you are maximizing your rental income and ensuring that you are not missing out on potential profits.
Additionally, raising your rent to fair market value can help you cover your expenses as a landlord, including mortgage payments, property taxes, maintenance costs, and other expenses associated with owning and renting out a property. If you are not charging enough rent, you may struggle to cover these costs and may end up losing money in the long run.
In summary, raising your rent to fair market value can help you maximize your rental income, cover your expenses, stay competitive, and maintain your property. However, it is important to carefully consider the potential impact on your tenants and the local rental market before making any changes to your rental rates.
MIKE DOYLE | DRE 01758185
☎️949-322-9934 📧 [e-mail]