increase in rent?

Doubled ??? How did you manage to do that @Ed Barton ?

 

As we all know market has gone up in Syd and Melb and other places. I wanted to get opinion from all of the experienced people on this matter:-

4/2/2 nice house built in 2012 in Wyndham Vale, vic. Bought the property with tenants more than a year ago. (Rent 360 pw but no air con) Property is managed by a PM. We had initial teething issues with our tenants.

The tenant is paying rent weekly which means he is not foolowing the rule where tenant pays monthly rent in advance.

Current lease is expiring end of Sep and we are not sure if we should increase the rent or not.

Tenant has some back issues hense he doesnt work and when we decided to increase the rent 6 months ago-it didn't go very well and he played his health card. Our PM suggested to sign 6 months lease so that next time if he threats to involve some rental union etc we will have this lease as an evidance.

The rental market has been improved in the area and property is in the better part of the suburb.

We are tossing if tenant won't vacat the property and involve other parties, that be an extra expense and summer is comming as well. We don't want to leave the property empty either.

I apologies for the long Q/story.

#rentincrease