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 Increasing shoplot rent, Uncooperative tenants

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nookie188
post Apr 29 2017, 05:19 PM

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QUOTE(drbone @ Apr 29 2017, 03:23 PM)
I have one of my shoplots for which the rent for ground floor and first floor is a lot less than the current market value. These tenants have been with us for the last 20 years. And the rent was not increased in a really long time so much so that all the other tenants in neighboring shoplots pay more . When I approach the tenants , they make a big fuss but they do not want to leave at the same time . I don't want to pressure them but I feel I need to increase the price as per market value . Anyone has any tips or ideas how I can increase my rental ?
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no tenant is going to be happy to be paying more so the big fuss..

Well you can tell them - ok, since you have been renting for a very long time but the market rate has increased to xxxx
but I will increase to slightly below market rate just for you ..

so the options are

I) increase
or
2) terminate



 

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