Should I raise my rent ? ?

Question

I rented my home when my job transferred. The tenant wanted to paint a room prior to moving in so we said yes. She painted the room and moved in four days early. She had a fit when i mentioned to prorate the rent for the days when she moved in early. I let it go to keep from losing my temper. She stated after she moved in that she wanted to add an alarm to the house. i said that was fine if she wanted to pay for it and I would not be responsible for the alarm contract. Now she is changing her mind and is expecting me to pay for the alarm. She is already renting this home for at least 250.00 less than the market would ask . The reason is she is my wife's friend. i feel that she is being pushy and manipulative. The home is a three bedroom ,1960sg ft , 2 bath, fireplace,stainless appliances,washer dryer included ,stainless steel fridge with filtered water , in ground swimming pool, and sits on 8/10 of an acre. Two storage buildings as well.We remodeled the kitchen, both baths , recarpeted the master, laid hardwood flooring thoughout the whole house except the bedrooms.i rented the home out because the market is not a good place to sell right now in that area.

Answer 1

i think you should

Answer 2

give it to me.....

Answer 3

I would deffinatley increase the rent! And if she doesnt like it, then you can find another tenant. As you said, lesson learned!  

Answer 4

I agree that she is being manipulative and pushy.  If she is your wife's friend she should be happy with the deal that you're giving her, if not, then you should tell her that you're more than happy to have her move out and find a house for the rent that she's paying with half of what you've included for her.  I've learned in letting several friends stay with me for the last 4 or so years that it's always your closest friends who s***w you the worst.  They know that they can push you, because they won't be put out, because they are "friends".  And it sucks.  I would raise the rent...and tell her to put up or get out.  You're only helping her out, and she's being extremely selfish and frankly a brat about the situation.

Answer 5

Remember that you are bound by any lease terms which you currently have.  If she has signed a lease for a year then you are bound to that year lease.  If she did not sign a lease then she is on a month to month and you usually need to give 30 days notice to change the terms of the lease.  check your local laws to verify what is needed.

the lesson you have learned is a good one.  Never mix business with friends or family.  They are different relationships and should be kept separate.

Since this is your first foray into the rental business and it seems that you are a long distance landlord a property management firm is a good idea.  Make sure you check the references of the property management company.  there is an equal chance they are good as there is they are bad.  Make sure they are good.

Look around for some blogs on landlording.  

http://weblogfor.us

Answer 6

I'm glad you learned that lesson. I learned it the same (hard) way due to renting to a family member.

Get rid of her. It will only get worse and the personal relationship is going to be lost either way.

I would not let her install an alarm because once it is in, it will need to be maintained. It is an alteration and I do not allow tenants to make alterations to my rentals.

You have no obligation to pay for an alarm to be installed. I would not agree to pay for the alarm because by providing it you are also providing the "sense of security" that goes with it. If anything were to happen, she could hold you liable because you provided the alarm.

Also, many locations added ordinances regarding alarm systems. The owner is charged for any false alarms that the police/fire/emergency respond to after a specific number.

I'd introduce her to my "happy clause". If she is not "happy", I'd be "happy" to accept her notice to vacate and "happily" find a new tenant.