Rent and rent increases
How much rent can I receive for my property?
The factor which will determine how much rent you receive for your property is known as "market rent" - that is, how much money similar properties are renting for in your area. If you are thinking of renting out your property, we suggest you research similar properties on the Internet and note, not only the prices, but how long they are on the market at the requested rental. An agent active in your area can also quickly and easily provide you with this information on comparative rentals.
My property still has eight months on the lease but rental prices are skyrocketing. Can I increase the amount of rent currently being paid?
The current rental must remain for the remainder of the lease term. You should then give your tenant the required amount of notice that you intend to increase the rental at the end of the current lease (notice periods vary depending on your state).
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