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Don't hate the game, hate the players. (lemmy.ca)

submitted 2 months ago by [email protected] to c/[email protected]

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[–] [email protected] 3 points 2 months ago

In fact the 5% increase will roughly keep you even especially if you are charging under market rent. That's not keeping up with rental market increases, just inflation + the consequences of market increases even if you aren't tracking with rental rates yourself.

If you charge $1000 this year that's around $950-$970 next year. Or to flip it around, say you have $1k in expenses for repairs etc that's around $1030-1050 next year. And that's with average-ish inflation (it was 7% in 2021!). The 5% covers that plus increases in property taxes (jeebus fuck) and insurance costs (holy shit).