Apr 30 2017, 05:50 PM
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 ?
You have to also consider their payment records, not for them, but for you.. if they have been paying on time, it may not be worth it to terminate since you dont know the next tenant would be paying enough... also would you even have a tenant to replace them? Theres a corner mamak that was closed down in Oasis Ara Damansara and i was told that they moved/closed because the owner wanted to increase rent and they could not afford the new rent so they had to move.It has been almost a year now and there still hasnt been any tenant there. Would the increased rent cover the loss of opportunities?
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