Being in the rental business for many years I have yet to raise rates on occupants. With that being said my cost never stops escalating. Codes are always changing requiring costly additions, insurance is always going up, The country assessor never misses a chance to raise the property taxes even if the property value dips. Many tenants thinks it is perfectly acceptable to knock holes in the walls and doors. They will pitch smoke detectors in the trash because they do want to replace a battery.
Now does any one wonder why rents are always increasing?
We always complain of the lack of “affordable housing” when what should be understood as the presence of unaffordable tenants.