Love my tenants

A few months ago one of my tenants lease was expiring and they not only contacted their PM for a new one year lease, but they also advised that they would be happy to pay an increase in rental of which was a great new rental.

What are the chances of another one doing the same?

Yesterday, another tenant whose lease expires in two months time has written to their PM and asked for new lease with a new rental above the market. Apparently he loves the area and the property and would like to secure himself.

Now to spread the word to the remaining few...
 
Thankfully Nick you are wrong in my two cases. The second tenant is soon to pay $5 above the market just so he doesn't need to move.

I know this as I own the block and just had one leased at open market.
 
Well that's a good thing then. Naturally I would think they would try to re-new the lease at the same price and if that fails then offer to pay more, not offer more straight off the bat.

But it is true that if someone really wants to live in a certain location/building then they will pay more.
 
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