Rent Increase on Lease Renewals?
(From San Antonio, Texas) Does anyone know what factors apartment managers consider when increasing a tenant’s rent when they renew the lease? I know that market prices is a factor, but are there others that allow them to use their subjective discretion in raising prices?
Thanks for the quick responses!
INDIANA – What I meant was, can apartment managers consider factors outside of the market factors (i.e. whether tenants paid their rent on time, whether more than 1 person lives in the apt., whether they do not personally like the tenant, etc).
Thank you all for the great input!