how much to increase rent in Calgary?

[PhilUkrainetz]

Hi everyone,

I am just taking possession of a duplex near the UofC in Calgary, and on Sept 1st we are eligible to increase rents. I am wondering how much to increase the rent? 6%? 8%? Any ideas?

Thank you in advance for your reply..

-Phil

 

[MONEY]

QUOTE (PhilUkrainetz @ May 27 2008, 12:53 AM) Hi everyone,

I am just taking possession of a duplex near the UofC in Calgary, and on Sept 1st we are eligible to increase rents. I am wondering how much to increase the rent? 6%? 8%? Any ideas?

Thank you in advance for your reply..

-Phil

Increase it to whatever the market will bear. Look around to see what your competition is offering and what you are offering and base the price from that.

 

[SamEfford]

Hi Phil,

The only way to answer this question is to do your due diligence and compare your property to the others in the area. There are several websites (kijiji, rentboard, gottarent, etc) and newspapers that you can find comparable properties.