Can I increase the rent of my rented property myself?

We answer these and many other questions in our video blog episodes.

Here is the transcript of episode 21 to read:

In principle, you can increase the rent at any time. But as you should have a professional property management company looking after your property, they will approach you and say: ‘There’s a new rent index out again.’ We haven’t adjusted the rent for 2, 3 or 4 years now; we’re facing inflation, so we propose sending the tenant a rent increase notice and suggesting they pay 10% more after three or four years.”

And then you simply confirm to the property management: Agreed, you may increase the rent. Then the property management will write a professional rent increase, justify it and after about three months you will have a higher rent payment on your bank statement. And three, four years later the property management will approach you again. That is precisely the great thing about real estate: It goes up. Because it is a tangible asset.

Keywords:
rent, rent index, property, professional management, rent increase, asset value, justification