Can I increase the rent of my rented property myself?
In today's edition of our video blog you will learn whether you can increase the rent of your rented property yourself
Start the video here:
Frequently, capital investors ask themselves
We answer these and many other questions in our video blog editions.
Here is the transcript of episode 21 to read:
In principle, you have the possibility to increase the rent at any time. But since you should have a professional management in a property, the management will come to you and say: There is again a new rent index. We have not adjusted the rent now for 2, 3, 4 years, we have inflation and we propose that we send a rent increase to the tenant and propose to pay 10% more after three, four years.
And then you simply confirm to the administration: Agreed, you may increase the rent. Then the administration writes a professional rent increase, gives reasons for it and after about three months you will have a higher rent receipt on your bank statement. And three or four years later, the management will come back to you. That's the beauty of real estate: It goes up. Because it's a tangible asset.
Rent, rent index, real estate, professional management, rent increase, material value, justification