Quote:
Originally Posted by fotze
You can raise rent for that? What if someone starts a relationship and it turns into sleepovers, at what point can you start charging more rent? 3 nights a week, having sex?
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For my tenants there is a clause built into the rental agreement that states if someone moves in that wasn't on the original rental agreement, rent goes up by a certain amount. I think it's $25 or so. It's built into the agreement, nor for monetary gain, but if they become problem tenants, start harbouring extra people and it can be used as an eviction technique for non-payment of rent.
That being said, both my places are 1 + Dens and are rented by couples. I didn't raise rent after the first year, as they are both perfect tenants and my life would not change at all by receiving an extra $25 or $50 per month. The comfort I have in knowing they are taking good care of my condos is worth the $25 a month I could be earning if I rented to someone else. I'm not sure they would move out with rent going from $1,200 to $1,225, but I didn't see a need for it this year. If I owned many more properties, than $25 and $50 increases become much more substantial in total dollars.