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Being a Landlord Is About to Start Paying off Big Time

Friday, February 25, 2022   /   by Joe Johnson

Being a Landlord Is About to Start Paying off Big Time


Being a landlord hasn’t been easy over the past couple of years. Not that it’s ever entirely easy, but local and federal pandemic mandates and eviction moratorium made it harder to even collect rents, let alone raise them.

But according to recent survey data highlighted in this Realtor Magazine article, landlords plan to substantially raise rents this year, and all signs point to tenants being willing and able to pay higher rents.

Here’s a look at how much surveyed landlords are planning on increasing rents by in the coming year:

  • 38% plan on increasing by 5% or less
  • 45% plan on a 5-10% increase
  • 9% are planning on a 10-15% bump
  • 5% are seeking a 15-20% hike in rent
  • 3% are asking for an increase of 20% or more

The amount your market and tenants will be able to bear has to be taken into consideration, but overall the article cites that 82% of renters have not missed a payment in the past 12 months, showing that the majority of tenants are able to pay regularly and stay current. Seventy-seven percent state that they do not anticipate missing a payment in the next three months to a year.

Coupled with low supply of houses for sale (especially in the entry-level markets) and rising interest rates, demand for rentals should be high.

The Takeaway:

If you’ve struggled to collect rents and pay your mortgage over the past few years, and are thinking about selling your rental property, you may want to reconsider. If you can, hold on to your rental property and raise your rents as much as the local market will bear.

If you haven’t been struggling, but you’ve been hesitant (or unable) to raise rents in the past couple of years, consider raising the rent as leases come up for renewal, or when accepting a new tenant.

And if you haven’t already invested in rental property, now may be the time to buy one, before rents are raised which will increase the market value and cost to buy one.

Looking for an investment property? The Reiner Realty Team can help! Give us a call today at 540-494-9284 or click HERE.
Reiner Realty Group, Realtors with Lichtenstein Rowan
Rene Reiner
3621 Manassas Drive
Roanoke, VA 24018
540-793-4095
Joel Balsley
NMLS#210455
Licensed in VA
Office #: 540-278-1430
Mobile #: 540-597-8877
joelbalsley@atlanticbay.com


Featured real estate company is not a mortgage lender and so you should contact Atlantic Bay Mortgage Group, L.L.C. directly to learn about its products and your eligibility for such products. The featured lender has an affiliated business relationship with the featured real estate agent. You are under no obligation to use the featured lender for financing. All loans subject to income verification, credit approval and property appraisal. Not a commitment to lend. Atlantic Bay Mortgage Group, L.L.C. NMLS #72043 (nmlsconsumeraccess.org) is an Equal Opportunity Lender. Located at 600 Lynnhaven Parkway Suite 203 Virginia Beach, VA 23452.
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