Uh oh. You know who don’t like condos???
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4-plex in Hayward. 5.3% cap rate.
Rents rebounding (some)…
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Rents still going up in Tahoe and Sacramento. Flat in the BA… not dropping like predictions
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Definitely not dropping, I still see room for minor increase for all my rentals possible this year, but skipping it as they are long term tenants , more than 5 years.
Don’t skip! You need to increase rent precisely because they are long term.
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Better mark your rent to market to protect against Costa Hawkins risk.
Also it would become very hard emotionally to raise rent if you keep rent flat for many years. Both landlord and tenant would be scared of one big raise instead of many small raise
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I always keep at least $100-$150 less than market rate. Basically, I have few expenses went up, i.e. property tax, insurance and gardener bill. I am actually thinking whether to increase to match these expenses. Any way, I have few months to decide.
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You should use the boiling frog method of rent increases. Slow and steady. Costs a lot to move… time and money.
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