Moon light
Registered User
- Messages
- 36
Hi, I am looking for help again,
Tenants moved into property in May 16,
They are decent tenants and are keeping the place well so I don't want to increase the rent but am thinking I should in order to keep up with market rents, and even right now I am still a good bit below market rent but I live and learn....
Can you pls tell me if I am using the correct formula, pls note €1100 is the current rent,
R X (1 + 0.04 x t/m)
1100 X (1 + 0.04 x 15 /12)
15/12 = 1.25
x 0.04 = 0.05
+ 1 = 1.05
x 1100 = €1155
so is €1155 the correct new rent, if so and if they accept, this new rent will come into effect in Aug 17, is that right?
tks so much for any advice,
Tenants moved into property in May 16,
They are decent tenants and are keeping the place well so I don't want to increase the rent but am thinking I should in order to keep up with market rents, and even right now I am still a good bit below market rent but I live and learn....
Can you pls tell me if I am using the correct formula, pls note €1100 is the current rent,
R X (1 + 0.04 x t/m)
1100 X (1 + 0.04 x 15 /12)
15/12 = 1.25
x 0.04 = 0.05
+ 1 = 1.05
x 1100 = €1155
so is €1155 the correct new rent, if so and if they accept, this new rent will come into effect in Aug 17, is that right?
tks so much for any advice,