As a landlord of over 40 years, I will say that rent goes up because taxes and insurance go up. Our properties have risen in value which we cannot access because of capital gains tax which would wipe out most of our profit but we’re taxed on it and if we’re smart we raise the amount of insurance we pay so that if the property burns down we can replace it. We have no mortgage on two of our three rental properties so no automatic payments. But it’s our retirement. Sigh.
15% profit would be fair, don't you think?
Try to get that law passed and you would be able to hear their shrieks on the dark side of the moon.
See my #11 and good luck to you.
“As a landlord of over 40 years, I will say that rent goes up because taxes and insurance go up.”
That’s one take-
Some other factors: Land Use Restrictions, Building Codes and “New” Landlords that don’t know shiite.
In one property, I’ve had the tenants in place for over 15 yrs. They’re happy. I’m happy. They treat the place as their home, not a simple “rental”. Kids did well in the local better school. Yard has nice flowers every year. Small veg garden in back.
Not having headaches or finding new reliable renters is worth every penny of any “lost” income from not raising the rent at every chance, or above what they/I can afford.
Had to pass some increases onto the rent over the years, but never jacked the rent just because the market rate.
It’s paid of for me quite well.