I currently lease a home where the current rent does not cover the total costs of mortgage , insurance, & taxes. The current lease will expire in the next month and a half. I informed the tenant that the monthly rent will be increased by 8% under the new lease. The tenant indicated that "she can't afford that" and has verbally expressed an interest in leasing month-to-month. I informed her that a month-to-month lease will have a rental amount that it least 10% greater than the current rent. Given the current real estate market, what is a reasonable percentage to apply for new rental agreement? Month to month lease?
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Month to month rent amounts
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Posted 1 year ago #
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